New Jersey § 17:9a-75
Full text of New Jersey New Jersey Statutes § 17:9a-75, with citation guidance and answers to common questions.
§ 17:9a-75.
A. The following shall be guilty of misdemeanors: (1) A director, or an executive officer of a bank who knowingly incurs liability to
the bank in violation of subsections B and C of section 72 1 ; (2) Any person who knowingly permits or aids a director, or an executive officer of
a bank or a corporation or partnership to incur liability to a bank in violation of
subsections B and C of section 72; (3) A director of a bank who votes in favor of an application presented to the bank
by such director or by a corporation in which such director alone, or with one or
more directors or officers of the bank, has a controlling interest, or by a partnership
of which such director is a general or limited partner, if, pursuant to such application,
liability is incurred in violation of subsections B and C of section 72; (4) A director or an executive officer of a bank who, alone, or with one or more directors
or executive officers of the bank, has a controlling interest in a corporation or
who is a general or limited partner of a partnership which presents an application
to the bank pursuant to which liability is incurred in violation of subsections B
and C of section 72 and who, having knowledge of such application prior to its acceptance,
fails to disclose his interest to the executive committee or the board of directors
prior to such acceptance. B. Each person described in paragraphs (2), (3), and (4) of subsection A of this section
shall be personally liable on demand to the bank for the liability incurred in violation
of subsections B and C of section 72, with interest, and, upon payment thereof, shall
be subrogated to the rights of the bank. 1
N.J.S.A. § 17:9A-72.
Frequently Asked Questions About New Jersey § 17:9a-75
What does New Jersey Statutes § 17:9a-75 cover?
Section 17:9a-75 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-75?
A common citation format is "New Jersey Statutes § 17:9a-75" (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-75 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.