N.J.S.A. 3B:20-22

Authority to exchange or convert

3B:20-22. Authority to exchange or convert When a bank holding company which is a corporation acquires 80% or more of the outstanding capital stock of a banking institution, any shares of the capital stock of the banking institution held in a trust estate by a fiduciary may be exchanged for or converted into the capital stock of the bank holding company as an incident of the company's acquisition of the shares. L.1981, c. 405, s. 3B:20-22, eff. May 1, 1982.

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This is the verbatim text of N.J.S.A. 3B:20-22, 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.

N.J.S.A. 3B:20-22 — Authority to exchange or convert | Kyzer