17:9A-209. Use of capital stock or surplus
70 words·~1 min read·
/nj/title-17/chapter-9a/17-9a-209A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. No bank shall use any part of its capital stock or surplus paid in pursuant to its certificate of incorporation until it receives a certificate of authority pursuant to section 14.
B. No savings bank shall use any part of its capital deposits paid in pursuant to its certificate of incorporation until it receives a certificate of authority pursuant to section 14.
L.1948, c. 67, p. 348, s. 209.