New Jersey § 17:9a-121
Full text of New Jersey New Jersey Statutes § 17:9a-121, with citation guidance and answers to common questions.
§ 17:9a-121.
The commissioner shall not approve an amendment effecting a decrease in the capital
stock if the decrease will cause the capital stock to be less than the minimum capital
stock required of banks on their organization under this act as specified in section
4; 1 except that, in the case of banks organized prior to the effective date of this
act, the commissioner may approve decreases in capital stock if he shall determine
that such decreases are necessary for the continuance of an established banking business,
and that the continuance of such business is in the public interest, and that, (1) if the bank is a qualified bank, the decrease will not reduce the capital stock
to an amount less than $500,000.00; or (2) if the bank is not a qualified bank, the decrease will not reduce the capital
stock to an amount less than $100,000.00; but nothing in this section shall prevent
a reduction in capital stock on retirement of preferred stock pursuant to any law
in effect when the preferred stock was issued. 1
N.J.S.A. § 17:9A-4.
Frequently Asked Questions About New Jersey § 17:9a-121
What does New Jersey Statutes § 17:9a-121 cover?
Section 17:9a-121 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-121?
A common citation format is "New Jersey Statutes § 17:9a-121" (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-121 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.