New Jersey § 17:9a-408
Full text of New Jersey New Jersey Statutes § 17:9a-408, with citation guidance and answers to common questions.
§ 17:9a-408.
In the event that the board of managers elects to follow the procedures provided in
subsection b. of section 7 of this act, 1 the managers shall, with the approval of the commissioner: a. Adopt an amended certificate of incorporation which changes the name of the organizing
mutual savings bank and conforms its organization, governance and powers to those
prescribed for a mutual savings bank holding company by section 8 and sections 10
through 15 of this act. 2 b. The amended certificate of incorporation adopted pursuant to subsection a. of this
section shall state: (1) The amount of capital deposits and surplus which are to be retained by the organizing
mutual savings bank holding company; (2) The amount of assets and liabilities of the organizing mutual savings bank that
are to be transferred to the subsidiary capital stock savings bank; and (3) A means of retaining any interests of the respective depositors of the organizing
mutual savings bank in the assets of the organizing mutual savings bank, according
to a fair valuation, including assets which are proposed to be retained by the organizing
mutual savings bank holding company. 1
N.J.S.A. § 17:9A-388. 2
N.J.S.A. §§ 17:9A-389, 17:9A-391 to 17:9A-396.
Frequently Asked Questions About New Jersey § 17:9a-408
What does New Jersey Statutes § 17:9a-408 cover?
Section 17:9a-408 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-408?
A common citation format is "New Jersey Statutes § 17:9a-408" (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-408 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.