New Jersey § 17:9a-8
Full text of New Jersey New Jersey Statutes § 17:9a-8, with citation guidance and answers to common questions.
§ 17:9a-8.
a. A capital stock savings bank may, in its original or amended certificate of incorporation,
make provision for authorized but unissued stock. This stock may, with the approval of the commissioner, be issued for those purposes,
in addition to the purposes expressly authorized by law, and for any consideration
which the board of directors may determine. So long as this stock remains unissued, it shall not constitute capital stock for
the purposes of the act to which this act is a supplement. b. Prior to the time when authorized but unissued shares are issued by a capital stock
savings bank, a certificate of amendment made by two officers of the savings bank, one of whom shall be the president or a
vice-president, shall be filed with the department. The certificate of amendment shall state: (1) the amount of the authorized but unissued stock which will be issued;
(2) the consideration which will be received by the capital stock savings bank on
the issuance of the stock; (3) the date the stock will be issued; (4) the amount
of the capital stock which will be outstanding; and (5) the amount of surplus after
giving effect to the issue. A filing shall be deemed approved on the 30th day after receipt by the commissioner,
unless approved or disapproved earlier by the commissioner in writing. Upon approval pursuant to this section, the certificate of incorporation shall thereupon
be amended as set forth in the certificate of amendment. The commissioner may disapprove a filing if the commissioner finds that the issuance
of the stock will be in violation of law or contrary to the public interest or that
the capital stock savings bank's original or amended certificate of incorporation
does not provide for authorized but unissued stock. A certificate filed with the department pursuant to this section shall be deemed
for all purposes to be an amendment of the certificate of incorporation. c. A capital stock savings bank may issue preferred stock in accordance with the provisions
of Article 20 of P.L.1948, c. 67 ( C. 17:9A-124 to 17:9A-130 ).
Frequently Asked Questions About New Jersey § 17:9a-8
What does New Jersey Statutes § 17:9a-8 cover?
Section 17:9a-8 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-8?
A common citation format is "New Jersey Statutes § 17:9a-8" (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-8 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.