N.J.S.A. 17:9A-171 — Effect of reorganization upon claims and property

17:9A-171. Effect of reorganization upon claims and property Upon the issuance of the certificate of authority pursuant to subsection C of section 168, (1) the plan shall be binding upon the bank and upon all of its depositors, other creditors and stockholders; and (2) the property dealt with by the plan shall be free and clear of all claims and interests, except as provided in the plan or in such order as the court may make authorizing or directing the transfer of such property. L.1948, c. 67, p. 303, s. 171.

This is the verbatim text of N.J.S.A. 17:9A-171, 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.