New Jersey § 17:9a-300
Full text of New Jersey New Jersey Statutes § 17:9a-300, with citation guidance and answers to common questions.
§ 17:9a-300.
A. If, at a meeting of stockholders held pursuant to section 299, 1 the holders of a majority of the stock shall vote, in person or by proxy, that liquidation
be completed by an agent or agents elected by the stockholders, the stockholders shall
elect such number of agents as they shall determine. Following such election, the commissioner shall deliver to the agents so elected
all the assets of the bank remaining in his possession, custody, or control and, upon
such delivery, the commissioner shall be discharged from all further duties and responsibilities
in respect to the assets so delivered. A certificate of the election of the agents for liquidation and of the delivery
of the assets by the commissioner shall be made by the commissioner and filed in the
department. The agents shall complete the liquidation of the assets of the bank, and, to the
extent necessary for such liquidation, shall have the powers and shall be subject
to the duties conferred or imposed upon the commissioner by this article. Upon completion of the liquidation, and upon making final distribution to stockholders,
the agent or agents shall file a certificate thereof in the department, and thereupon
the bank shall be dissolved, and its corporate rights, powers and franchises shall
terminate. B. Vacancies caused by the death, resignation, removal or other disability or any
agent elected pursuant to this section shall be filled by the surviving agents, and
a certificate thereof shall be filed in the department. The acts of a majority of the agents shall constitute the acts of the bank. 1
N.J.S.A. § 17:9A-299.
Frequently Asked Questions About New Jersey § 17:9a-300
What does New Jersey Statutes § 17:9a-300 cover?
Section 17:9a-300 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-300?
A common citation format is "New Jersey Statutes § 17:9a-300" (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-300 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.