17:9A-180.7. Investment in stocks limited to certain percentage of surplus
68 words·~1 min read·
/nj/title-17/chapter-9a/17-9a-180-7·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
No savings bank shall make an investment pursuant to this act at any time when the total of all such investments exceeds, or if the making of such investment would cause such total to exceed 75% of its surplus (as hereinafter defined).
L.1953, c. 78, p. 1001, s. 3. Amended by L.1955, c. 205, p. 814, s. 1; L.1963, c. 105, s. 1; L.1966, c. 271, s. 1.