{"data":{"id":"us-nj/n.j.-stat.-17-52-18","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:52-18","heading":"Banks and trust companies;  powers","body":"Every bank and trust company organized under the laws of this State shall have power to become a member and a stockholder of a business development corporation, but a bank or trust company which is not a member of such a corporation shall not hold any stock of the corporation.  No such bank or trust  company shall become a member of more than 1 business development corporation,  or hold stock in more than 1 such corporation, and no such bank or trust  company shall invest more than 10% of its capital stock and surplus in the  stock of any such corporation.  Banks and trust companies which are not members  of a business development corporation may invest in the obligations of any such  corporation or corporations, but the aggregate amount so invested shall not  exceed 10% of the capital and surplus of any such bank or trust company.\nL.1957, c. 218, p. 761, s. 18.","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":"5334003e429b933325441da6e3b2db1101a624135f37625ea2c81fde89f12506","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-52-17","next":"us-nj/n.j.-stat.-17-52-19"},"notice":"GroundRules: Original legal text. Not legal advice."}