{"data":{"id":"us-nj/n.j.-stat.-17-12b-318","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:12B-318","heading":"Contents of amended certificate of incorporation","body":"In the event that the board of directors elects to follow the procedures provided in paragraph (2) of subsection c. of section 7 of this act, the directors shall, with the approval of the commissioner:\na.   Adopt an amended certificate of incorporation which changes the name of the organizing mutual state association and conforms its organization, governance and powers to those prescribed for a mutual state association holding company by section 8 and sections 10 through 15 of this act.\nb.   The amended certificate of incorporation adopted pursuant to subsection a. of this section shall state:\n(1)  The amount of capital deposits and surplus which are to be retained by the organizing mutual state association holding company;\n(2)  The amount of assets and liabilities of the organizing mutual state association that are to be transferred to the subsidiary capital stock state association; and\n(3)  A means of retaining any interests of the respective members of the organizing mutual state association in the assets of the organizing mutual state association, according to a fair valuation, including assets which are proposed to be retained by the organizing mutual state association holding company.\nL.1989,c.165,s.27.","path":["TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE \t\t\tAND INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"89101a31467b3bfcc00975e4ec13392f67ff905d8babf374a9b2226e26cb4a7d","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-12b-317","next":"us-nj/n.j.-stat.-17-12b-319"},"notice":"GroundRules: Original legal text. Not legal advice."}