17:9A-202. Surplus requirements The surplus of the savings bank after the merger shall at least equal the sum of the following: (1) the minimum capital deposits required of a savings bank on its establishment at the location to be occupied by the principal office of the savings bank after the effective date of the merger, as such minimum is specified in section 8, and (2) an amount equal to the minimum surplus as required in subsection D of section 19 for each branch office to be maintained by the savings bank after the effective date of the merger. L.1948, c. 67, p. 343, s. 202. Amended by L.1952, c. 220, p. 756, s. 4.
‹ Prev All New Jersey sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.