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Code · New Jersey · Title 17 — Notice and Publication · Chapter 9A

17:9A-210. Write-up of assets; changes in reserves

119 words·~1 min read·/nj/title-17/chapter-9a/17-9a-210

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No bank or savings bank shall, except with the written approval of the commissioner, write up any of its assets, or reduce or eliminate any reserve which shall have been established by it pursuant to paragraph
(4)of subsection A of section 50, or with respect to its furniture and fixtures, its banking houses, or its other real estate, or any other reserve which shall have been established at the direction of the commissioner; but this section shall not prevent a charge to a reserve established for a specific purpose or contingency or a transfer from such a reserve when such purpose or contingency shall have happened or shall have been removed.
L.1948, c. 67, p. 348, s. 210.
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