{"data":{"id":"us-nj/n.j.-stat.-17-16j-3","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:16J-3","heading":"Directing of acquisition or merger;  authority of commissioner","body":"The commissioner shall have the authority to direct a depository to merge into or be acquired by another depository or a company only if the depository to be merged or acquired meets one of the following tests:\na.  The depository has, in the opinion of the commissioner, a ratio of capital stock, surplus, undivided profits, and reserves to total assets which is declining to the extent that the ratio would reach a level of 1% or less within the ensuing 12 months;  or\nb.  The depository does not have sufficient funds, as determined by the commissioner, to meet the liabilities and obligations of the depository during the ensuing 6 months.\nL.1982, c. 8, s. 3, eff. March 4, 1982.","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":"fcac166d9882f7a47097d0cf5f119695471d73e9335c594fa5c3911dbc1634ce","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-16j-2","next":"us-nj/n.j.-stat.-17-16j-4"},"notice":"GroundRules: Original legal text. Not legal advice."}