New Jersey § 17:9a-131

§ 17:9a-131.

This act shall not apply to any borrowing by a bank, however evidenced, which is payable

in 1 year or less from the date of such borrowing nor shall the provisions of sections

4, 9 and 10 of this act 1 apply to any obligation issued by a bank to evidence a loan or loans made to such

bank by the New Jersey Mortgage Finance Agency pursuant to the New Jersey Mortgage

Finance Agency Law, P.L.1970, c. 38, 2 nor shall the following sections of this act apply to capital notes issued as an

incident of a merger effected pursuant to article 21 ( C. 17:9A-132 to 17:9A-148 ) of The Banking Act of 1948, P.L.1948, c. 67: a. Section 1 ( C. 17:9A-131.20 ), insofar as it provides that capital notes may be issued only to evidence obligations

to repay money borrowed by a bank; b. Section 3 ( C. 17:9A-131.32 ), insofar as it provides that capital notes may be issued only for cash, and insofar

as it provides that such notes may be converted only into common stock; c. Section 6 ( C. 17:9A-131.25 ); d. Section 7 ( C. 17:9A-131.26 ); and e. Section 11 ( C. 17:9A-131.30 ). 1

N.J.S.A. §§ 17:9A-131.23, 17:9A-131.28, 17:9A-131.29. 2

N.J.S.A. §§ 17:1B-4 to 17:1B-25 (repealed; see, now, N.J.S.A. § 55:14K-1 et seq.).