{"data":{"id":"us-nj/n.j.-stat.-17-9a-124","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:9A-124","heading":"Issuance","body":"A bank may issue preferred stock\n(1) Upon its organization as a successor bank pursuant to section 16; or\n(2) Upon its reorganization pursuant to Article 24;  or\n(3) Upon amending its certificate of incorporation as provided by Article 19, upon the vote of the holders of at least two-thirds of the shares of each class of stock issued by the bank;  or\n(4) As an incident of a merger when it is a receiving bank as defined in section 132 (C. 17:9A-132).\nL.1948, c. 67, p. 277, s. 124.  Amended by L.1977, c. 417, s. 2, eff. Feb. 24,  1978.","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":"af59820c0dbfc533756da5a81ced48d7beeffd0f6e7008a86709dc8ea928f758","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-9a-123","next":"us-nj/n.j.-stat.-17-9a-125"},"notice":"GroundRules: Original legal text. Not legal advice."}