New Jersey § 17:9a-24
Full text of New Jersey New Jersey Statutes § 17:9a-24, with citation guidance and answers to common questions.
§ 17:9a-24.
In addition to investments otherwise authorized by law, a bank or savings bank may
invest in any kind or kinds of assets, wherever located, of any person, partnership,
corporation, other business entity, association or body politic, in amounts not exceeding
in the aggregate more than 3% of the bank's or savings bank's total assets, or 50%
of its capital, surplus, reserves, undivided profits and capital notes, whichever
is the lesser. The aggregate amount invested pursuant to this act in an asset or assets of any
one person, partnership, corporation, other business entity, association or body politic
shall not exceed 1% of the bank's or savings bank's total assets.
Frequently Asked Questions About New Jersey § 17:9a-24
What does New Jersey Statutes § 17:9a-24 cover?
Section 17:9a-24 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-24?
A common citation format is "New Jersey Statutes § 17:9a-24" (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-24 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.