New Jersey § 17:9A-124 Issuance

New Jersey Statutes

§ 17:9A-124 — Issuance

New Jersey § 17:9A-124

Title 17CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

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Bluebook

N.J. Stat. Ann. § 17:9A-124 (2026).

Text

A bank may issue preferred stock (1) Upon its organization as a successor bank pursuant to section 16; or (2) Upon its reorganization pursuant to Article 24; or (3) Upon amending its certificate of incorporation as provided by Article 19, upon the vote of the holders of at least two-thirds of the shares of each class of stock issued by the bank; or (4) As an incident of a merger when it is a receiving bank as defined in section 132 (C. 17:9A-132). L.1948, c. 67, p. 277, s.

124.Amended by L.1977, c. 417, s. 2, eff. Feb. 24, 1978.

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A bank may issue preferred stock (1) Upon its organization as a successor bank pursuant to section 16; or (2) Upon its reorganization pursuant to Article 24; or (3) Upon amending its certificate of incorporation as provided by Article 19, upon the vote of the holders of at least two-thirds of the shares of each class of stock issued by the bank; or (4) As an incident of a merger when it is a receiving bank as defined in section 132 (C. 17:9A-132). L.1948, c. 67, p. 277, s. 124. Amended by L.1977, c. 417, s. 2, eff. Feb. 24, 1978.