New Jersey § 17:9a-179
Full text of New Jersey New Jersey Statutes § 17:9a-179, with citation guidance and answers to common questions.
§ 17:9a-179.
A. No savings bank shall make an investment pursuant to section 177 1 or section 179 2 at any time when the total of all its investments made pursuant to both such sections
exceeds, or if the making of any such investment would cause such total to exceed,
twenty-five per centum of its deposits. B. No savings bank shall make an investment pursuant to section 177 or section 179
in any obligation for the payment of which any one corporation is primarily liable,
at any time when the total of all its investments in such obligations of such corporation
exceeds, or if the making of such an investment would cause such total to exceed,
two per centum of its deposits; nor shall any savings bank make an investment pursuant
to section 177 or section 179 in any obligation (1) which is secured by lien upon
properties in any one system of railroads under unified operation, or (2) for the
payment of which any corporation in such system is primarily liable, or (3) which
is dependent as to legality for investment by a savings bank upon the obligation,
assumption or guarantee of any corporation in such system, at any time when the total
of all its investments in such obligations of all corporations in such system exceeds,
or if the making of such an investment would cause such total to exceed, five per
centum of its deposits. The acquisition of any such obligation as a result of a refunding or other refinancing
or exchange of such obligations theretofore invested in shall not be considered the
making of an investment for the purposes of this subsection. 1
N.J.S.A. § 17:9A-177. 2
N.J.S.A. § 17:9A-179.
Frequently Asked Questions About New Jersey § 17:9a-179
What does New Jersey Statutes § 17:9a-179 cover?
Section 17:9a-179 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-179?
A common citation format is "New Jersey Statutes § 17:9a-179" (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-179 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.