GroundRules
N.J. Stat. § 17:9A-211: Liability secured by own stock
Where this section sits in the code
- TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
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.
Collected 2026-08-27T17:54:13Z. Source file · JSON