New Jersey Statutes
§ 17:9A-211 — Liability secured by own stock
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
No bank shall permit the incurring of any liability to it on the security of shares of its own capital stock; but a bank may take shares of its own capital stock as security or additional security for a debt previously contracted in good faith. L.1948, c. 67, p. 349, s. 211.
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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