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

17:9A-211. Liability secured by own stock

52 words·~1 min read·/nj/title-17/chapter-9a/17-9a-211

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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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