New Jersey § 17:9a-407
Full text of New Jersey New Jersey Statutes § 17:9a-407, with citation guidance and answers to common questions.
§ 17:9a-407.
As an alternative to the formation of a subsidiary capital stock savings bank pursuant
to the provisions of sections 16 through 24 of this act, 1 an organizing mutual savings bank which has established a mutual savings bank holding
company pursuant to sections 7 through 15 of this act 2 may, in accordance with a plan approved by the commissioner, convert to a capital
stock savings bank pursuant to the provisions of P.L.1982, c. 9 ( C. 17:9A-8.1 et seq. ), except that: a. Not less than a majority of the shares of the converted savings bank shall be held
in the name of the mutual savings bank holding company; and b. The requirement of subsection g. of section 14 of P.L.1982, c. 9 (C. 17:9A-8.14g.)
that a liquidation account be established shall not apply. 1
N.J.S.A. §§ 17:9A-397 to 17:9A-405. 2
N.J.S.A. §§ 17:9A-388 to 17:9A-396.
Frequently Asked Questions About New Jersey § 17:9a-407
What does New Jersey Statutes § 17:9a-407 cover?
Section 17:9a-407 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-407?
A common citation format is "New Jersey Statutes § 17:9a-407" (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-407 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.