New Jersey § 17:12b-222
Full text of New Jersey New Jersey Statutes § 17:12b-222, with citation guidance and answers to common questions.
§ 17:12b-222.
Any association which is a member of a Federal Home Loan Bank may convert itself into
a Federal association with the same force and effect as though originally incorporated
as a Federal association. (a) When, in the judgment of the board of such association, it shall be deemed advisable
and for the interests of its members that the same shall be converted into a Federal
association, as provided in this section, the board shall adopt a resolution to that
effect. (b) After the adoption of such resolution, a meeting of the members of the association
shall be held upon not less than 10 days' written notice to the members by mail, postage
prepaid, directed to their addresses appearing on the books of the association, which
notice shall contain a statement of the time, place and purpose for which such meeting
is called. Proof by affidavit of mailing of such notice shall be filed in the office of the
commissioner before the time of such meeting. (c) At a meeting of the members of any such association held as provided in paragraph
(b) of this section, such members may by the affirmative vote of 2 / 3 of the members of the association present, either in person or by proxy, declare
by resolution the determination to convert the association into a Federal association. A copy of the minutes of the proceedings, of such meeting of the members, verified
by the affidavit of the president or vice-president, and the secretary of the meeting,
shall be filed in the office of the commissioner within 20 days after the date of
such meeting. (d) Within 3 months after the date of such meeting, the association shall take such
action, in the manner prescribed or authorized by the laws of the United States as
shall make it a Federal association, and there shall be filed in the office of the
commissioner a copy of the charter issued to such Federal association by the Federal
Home Loan Bank Board or a certificate showing the organization of such association
as a Federal association, certified by the secretary or an assistant secretary of
the Federal Home Loan Bank Board. Upon the granting to any association of a charter by the Federal Home Loan Bank
Board the association receiving such charter shall cease to be an association operating
pursuant to this act and shall no longer be subject to the supervision and control
of the commissioner.
Frequently Asked Questions About New Jersey § 17:12b-222
What does New Jersey Statutes § 17:12b-222 cover?
Section 17:12b-222 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:12b-222?
A common citation format is "New Jersey Statutes § 17:12b-222" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:12b-222 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.