New Jersey § 17:9a-4

§ 17:9a-4.

A. The capital stock of every bank hereafter organized shall amount to not less than: (1) $100,000.00, if the population of the municipality wherein the principal office

of the bank is to be located does not exceed 10,000; (2) $150,000.00, if the population of such municipality exceeds 10,000, but does not

exceed 50,000; (3) $200,000.00, if the population of such municipality exceeds 50,000, but does not

exceed 100,000; (4) $300,000.00, if the population of such municipality exceeds 100,000, but does

not exceed 200,000; (5) $500,000.00, if the population of such municipality exceeds 200,000; provided

that, if the certificate of incorporation states that the bank shall be authorized

to exercise all or any of the powers specified in section 28, 1 its capital stock shall be not less than $500,000.00. B. If the commissioner shall find that the principal office of a bank will be located

in a municipality which serves as a business or as a banking center for outlying districts

not otherwise adequately provided with banking facilities, so that such bank will

transact business with a substantial number of persons who do not reside in the said

municipality; or if the commissioner shall find that, because of its location, a

bank will transact a substantial part of its business with persons from a neighboring

municipality or municipalities, the commissioner may, in his discretion, require that

the capital stock with which such bank shall commence business, shall equal the minimum

capital stock which would be required of the bank if its principal office were to

be located in a municipality having a population equal to that of the combined populations

of the municipality in which it is to be located and of the area, outside such municipality,

which it will serve. C. Every bank hereafter organized shall commence business with a surplus at least

equal to 20% of its capital stock. 1

N.J.S.A. § 17:9A-28.