New Jersey Statutes 48:5A-38. Combinations, mergers, consolidations, acquisition of control, certain circumstances; approval of board
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Terms Used In New Jersey Statutes 48:5A-38
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
38. a. Except as otherwise provided by subsection b. of this section, no CATV company shall combine, merge, or consolidate with, or acquire control of, another organization without first obtaining the approval of the board, which shall be granted only after an investigation and finding that such proposed combination, merger, consolidation, or acquisition is in the public interest.
b. Nothing herein shall require the review or approval by the board of any parent or affiliate corporation of a company that provides cable television service over a cable television system if such parent or affiliate corporation does not itself provide cable television service in this State and seeks to combine, merge, or consolidate with, or to acquire control of, another corporation or other organization that:
(1) does not directly provide cable television service in this State; and
(2) does not directly or through one or more affiliates, own a controlling interest in another corporation or other organization that provides cable television service in this State.
L.1972, c.186, s.38; amended 2008, c.87, s.5.