New Jersey Statutes
§ 17:9A-124 — Issuance
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
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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Nearby Sections
15
§ 17:9A-1
Definitions§ 17:9A-100
Liability of stockholders§ 17:9A-101
Directors; number; method of determination§ 17:9A-103
Directors; stock ownership, oath§ 17:9A-104
Directors; disqualification§ 17:9A-105
Directors; quorum; actions§ 17:9A-106
Directors; compensation§ 17:9A-107
Chairman of board of directors§ 17:9A-108
Directors; executive committee§ 17:9A-109
Directors; qualified bank; trust committee§ 17:9A-110
Directors; other committees§ 17:9A-111
Officers; election; appointment; limitation