New Jersey § 17:9a-131
Full text of New Jersey New Jersey Statutes § 17:9a-131, with citation guidance and answers to common questions.
§ 17:9a-131.
A bank, as defined in section 1 of the act to which this act is a supplement, 1 may, with the approval of the Commissioner of Banking and Insurance, borrow money
for the purpose of retiring all or part of any class or classes of preferred stock
issued by it prior to September 16, 1948. The commissioner shall not approve any loan for the purposes of this act unless
he shall be satisfied that the funds required for the retirement of preferred stock
cannot be obtained by the issuance of preferred stock or common stock without undue
hardship, cost or disadvantage to the bank or its stockholders. Any loan or loans made pursuant to this act shall be evidenced by debentures or
capital notes which shall have such maturities, and, shall contain such terms, covenants
and conditions as the Commissioner of Banking and Insurance may approve, within the
provisions of this act. 1
N.J.S.A. § 17:9A-1.
Frequently Asked Questions About New Jersey § 17:9a-131
What does New Jersey Statutes § 17:9a-131 cover?
Section 17:9a-131 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-131?
A common citation format is "New Jersey Statutes § 17:9a-131" (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-131 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.