New Jersey Statutes
§ 17:12B-293 — Approval of commissioner needed to acquire more than 25% of voting shares
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
No person shall, without the prior approval of the commissioner, acting directly or indirectly or through or in concert with one or more persons: a. Obtain or exercise control of a capital stock state association; or b. Acquire beneficial ownership or control of any voting shares of a capital stock state association, if, after the acquisition, the person would beneficially own or control more than 25% of the then-outstanding voting share of the capital stock state association. L.1989,c.165,s.2.
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New Jersey § 17:12B-293 (Approval of commissioner needed to acquire more than 25% of voting shares) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Nearby Sections
15
§ 17:12B-1
Construction as revision of prior laws§ 17:12B-10
Per capita assets§ 17:12B-103
Pledge of account to association§ 17:12B-11
Mortgage deemed first lien.§ 17:12B-110
Transfer of membership§ 17:12B-111
Lost certificates and account books§ 17:12B-112
Termination of membership§ 17:12B-113
Notice to members§ 17:12B-114
Meeting place.§ 17:12B-115
Meetings§ 17:12B-116
Quorum