New Jersey § 17:9a-103
Full text of New Jersey New Jersey Statutes § 17:9a-103, with citation guidance and answers to common questions.
§ 17:9a-103.
A. Each director shall own in good faith and hold in the director's own name unpledged shares of the capital stock of the bank, or of a company as such term is
defined in section 2 of the federal “Bank Holding Company Act of 1956,” 12U.S.C. s.1841 owning more than 80% of the capital stock of such bank, which shares shall comply with at least one of the following conditions: (1) the aggregate par value of the shares is at least $500, or (2) the shares have an aggregate book value of at least $500, or (3) the shares have an aggregate fair market value of at least $500 as determined
by the Commissioner of Banking and Insurance . B. Each director shall, following his election or appointment and before assumption
of any duties as a director, take an oath that he will, so far as the duty devolves
upon him, diligently and honestly administer the affairs of the bank, and that he
will not knowingly violate, or knowingly permit to be violated, any provision of this
act, and that he owns in good faith and holds in his own name, capital stock as required by this section . Such oath, subscribed by the director and certified by the officer before whom it
is taken, shall be transmitted to the commissioner and filed in the department.
Frequently Asked Questions About New Jersey § 17:9a-103
What does New Jersey Statutes § 17:9a-103 cover?
Section 17:9a-103 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 § 17:9a-103?
A common citation format is "New Jersey Statutes § 17:9a-103" (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 § 17:9a-103 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.