N.J.S.A. 17:9A-151 — Capital stock and surplus

17:9A-151. Capital stock and surplus The capital stock and surplus of a bank incorporated pursuant to this article shall be at least equal to the minimum capital stock and surplus required by section 4, and shall be in such greater amount as the commissioner may deem to be necessary in the public interest. The capital stock and surplus of such bank need not be paid in cash, but may consist of assets of the national banking association approved by the commissioner as to value. L.1948, c. 67, p. 290, s. 151. Amended by L.1951, c. 41, p. 151, s. 5.

This is the verbatim text of N.J.S.A. 17:9A-151, 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.