N.J.S.A. 17:9A-124 — Issuance

17:9A-124. Issuance 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.

This is the verbatim text of N.J.S.A. 17:9A-124, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.