N.J. Stat. § 17:16E-5: Interlocking relationships existing prior to this act; termination

Any interlocking relationship prohibited by section 3 of this act which existed prior to the effective date of this act may continue for such a reasonable period of time as may be necessary to terminate one or more of the relationships involved in an orderly manner, but all such interlocking relationships shall be terminated within 1 year after the effective date of this act.

L.1975, c. 265, s. 5, eff. Jan. 1, 1976.