17:9A-131.22. Capital notes issued for cash; limitation on conversion of convertible capital notes
Capital notes may be issued only for cash. Convertible capital notes issued by a bank may be converted only into common stock of the issuing bank or of a company as such term is defined in P.L.1957, c. 70, s. 1 (C. 17:9A-344), as amended, owning more than 25% of the capital stock of such bank.
L.1966, c. 272, s. 3. Amended by L.1971, c. 188, s. 1, eff. June 2, 1971.
Section: Previous 17-9a-130 17-9a-131 17-9a-131.1 17-9a-131.2 17-9a-131.3 17-9a-131.20 17-9a-131.21 17-9a-131.22 17-9a-131.23 17-9a-131.24 17-9a-131.25 17-9a-131.26 17-9a-131.27 17-9a-131.28 17-9a-131.29 Next
Last modified: October 11, 2016