N.J.S.A. 17:9A-211

Liability secured by own stock

17:9A-211. Liability secured by own stock No bank shall permit the incurring of any liability to it on the security of shares of its own capital stock; but a bank may take shares of its own capital stock as security or additional security for a debt previously contracted in good faith. L.1948, c. 67, p. 349, s. 211.

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This is the verbatim text of N.J.S.A. 17:9A-211, 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.