New Jersey · Through P.L.2025, c.405, and J.R.22 · Newer source version available

N.J. Stat. § 17:9A-157: Application of article

Where this section sits in the code

TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

A bank may reorganize in the manner provided by this article if

(1) it is insolvent, or has suspended its business for lack of funds to carry it on, and the commissioner is in possession of its property and business; or

(2) a receiver has been appointed pursuant to section 303.

L.1948, c. 67, p. 293, s. 157.

Collected 2026-08-27T17:54:13Z. Source file · JSON

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