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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 9a:
Section: 17:9a-6.1: Authorized but unissued stock provided for
A bank may, in its original or amended certificate of incorporation make provision for authorized but unissued stock. Such stock may, with the approval of the Commissioner of Banking as hereinafter provided, be issued for such purposes, in addition to the purposes expressly authorized by law, and for such consideration as the board of directors may determine. So long as such stock remains unissued, it shall not constitute capital stock for the purposes of the act to which this act is a supplement.
L.1970, c. 294, s. 1, eff. Dec. 14, 1970.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:9a-6.1 (if available):
Court decisions that cite this statute:
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