New Jersey Statutes
§ 3B:20-22 — Authority to exchange or convert
New Jersey·Title 3B ADMINISTRATION OF ESTATES--DECEDENTS AND OTHERS
When a bank holding company which is a corporation acquires 80% or more of the outstanding capital stock of a banking institution, any shares of the capital stock of the banking institution held in a trust estate by a fiduciary may be exchanged for or converted into the capital stock of the bank holding company as an incident of the company's acquisition of the shares. L.1981, c. 405, s. 3B:20-22, eff. May 1, 1982.
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Nearby Sections
15
§ 3B:20-1
Definitions§ 3B:20-11.1
Short title§ 3B:20-11.11
Construction of terms§ 3B:20-11.12
Applicability of act§ 3B:20-11.4
Diversification of investments§ 3B:20-11.6
Impartiality of fiduciary§ 3B:20-11.7
Review of trust assets§ 3B:20-11.8
Incurrence of costs by fiduciary§ 3B:20-11.9
Rule expresses standard of conduct