New Jersey § 17:9a-271
Full text of New Jersey New Jersey Statutes § 17:9a-271, with citation guidance and answers to common questions.
§ 17:9a-271.
A. All levies, judgments, attachments and other liens, upon property obtained through
legal proceedings against a bank when it is insolvent and within four months prior
to the commissioner's taking possession of its property and business, and any title
resulting from enforcement of any such lien, shall be void, except title obtained
by a bona fide purchaser for value. B. While the commissioner is in possession of the property and business of a bank,
no person shall acquire a lien or charge on any assets of the bank for any liability
of the bank existing at the time of the taking of possession. C. So long as the commissioner retains possession of the property and business of
a bank, and unless otherwise ordered by the Superior Court, upon notice to the commissioner, (1) no person shall institute a proceeding in any court against the bank, except as
authorized by this article, and the running of any statute of limitations shall be
suspended so long as the disability imposed by this paragraph remains in effect; (2) all proceedings pending in any court when the commissioner takes possession shall
be stayed; and (3) no judgment, levy, execution or distraint shall be enforced against the property
of the bank. D. The Superior Court shall have jurisdiction to make such orders as may be necessary
to effect the purposes of this section.
Frequently Asked Questions About New Jersey § 17:9a-271
What does New Jersey Statutes § 17:9a-271 cover?
Section 17:9a-271 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-271?
A common citation format is "New Jersey Statutes § 17:9a-271" (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-271 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.