New Jersey § 17:9a-224
Full text of New Jersey New Jersey Statutes § 17:9a-224, with citation guidance and answers to common questions.
§ 17:9a-224.
A. The commissioner may, whenever in his judgment the circumstances so warrant, direct
any bank or savings bank: (1) to postpone for any length of time the payment of all or any proportion of its
demand or time deposits, as he may deem necessary and expedient, to be determined
by him according to the ability of the bank or savings bank to pay withdrawals; and (2) thereafter to receive new deposits upon such terms as shall be approved by the
commissioner. B. Whenever the commissioner shall direct any bank or savings bank to act under the
provisions of this section, he may make such rules and regulations as he shall deem
proper for the protection of the bank or savings bank and its depositors, and may
require daily reports of its financial condition and operations. C. All moneys received by a bank or savings bank as new deposits pursuant to paragraph
(2) of subsection A of this section shall be given preference over all liabilities
of the bank or savings bank incurred prior to action by the commissioner pursuant
to this section.
Frequently Asked Questions About New Jersey § 17:9a-224
What does New Jersey Statutes § 17:9a-224 cover?
Section 17:9a-224 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-224?
A common citation format is "New Jersey Statutes § 17:9a-224" (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-224 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.