N.J. Stat. § 28:2-10: Assignment or transfer of stock; unclaimed stock forfeited to association

No certificate of stock issued by the Washington Association shall be assignable or transferable to any person unless the board of trustees shall give its express approval and consent to such transfer. When no request for transfer has been received within 10 years from the date of death of a stockholder, the share or shares of stock for which no request for transfer has been received shall be deemed forfeited, waived and surrendered to the association and become its property.

Amended by L.1946, c. 127, p. 606, s. 1; L.1964, c. 151, s. 2.