There is a newer version of the New Jersey Revised Statutes
2009 New Jersey Code
TITLE 42 - PARTNERSHIPS AND PARTNERSHIP ASSOCIATIONS
42:2B
42:2B-63 - Entitlement to security
42:2B-63. Entitlement to security 63. Unless the plaintiff's or plaintiffs' contributions to the limited liability company or the plaintiff's or plaintiffs' allocable share of property amount to 5% or more of the contributions of, or allocation to, property of all members of the limited liability company in their status as members, or unless the contributions or the share allocable to the plaintiff or plaintiffs have a fair value in excess of $100,000, the limited liability company in whose right the derivative action is brought shall be entitled at any stage of the proceedings before final judgment to require the plaintiff or plaintiffs to give security for the reasonable expenses, including attorney's fees, which may be incurred by the limited liability company in connection with the action. The amount of this security shall be determined by the Superior Court.
L.1993,c.210,s.63.
Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
