N.J.S.A. 17:9A-133 — What banks may merge; means of effectuation of merger

17:9A-133. What banks may merge; means of effectuation of merger A. Any two or more banks may, with the approval of the commissioner, merge one or more of them into another of them as provided in this article. B. A merger may be effected by any one or by any combination of any two or more or all of the following methods: (1) By the exchange of shares of capital stock of each merging bank for the shares of capital stock of the receiving bank; (2) By the exchange of shares of capital stock of each merging bank for the shares of capital stock of a company as such term is defined in paragraph (3) of section 132 (C. 17:9A-132); (3) By the exchange of shares of capital stock of each merging bank for capital notes of the receiving bank; (4) By the exchange of shares of capital stock of each merging bank for cash received from the receiving bank or from a company as such term is defined in paragraph (3) of section 132 (C. 17:9A-132); (5) By the exchange of shares of capital stock of each merging bank for capital notes of a company as such term is defined in paragraph (3) of section 132 (C. 17:9A-132). L.1948, c. 67, p. 281, s. 133. Amended by L.1968, c. 415, s. 3; L.1973, c. 211, s. 3, eff. Jan. 1, 1973; L.1977, c. 417, s. 8, eff. Feb. 24, 1978.

This is the verbatim text of N.J.S.A. 17:9A-133, 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.