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Current as of January 01, 2024 | Updated by Findlaw Staff
Notwithstanding the taking of custodial possession of the property of a safe deposit company by the commissioner:
a. Title to all the property of the safe deposit company, including property held in fiduciary capacities, shall remain in the safe deposit company;
b. The corporate existence of the safe deposit company shall continue unless terminated as provided in R.S.17:14A-80; and
c. The stockholders and directors of the safe deposit company shall be entitled to meet and the stockholders, directors and officers of the safe deposit company shall be entitled to act upon any matter which does not infringe upon the powers granted to the commissioner by R.S. 17:14A-80.
Cite this article: FindLaw.com - New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 14A-83 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-17-corporations-and-institutions-for-finance-and-insurance/nj-st-sect-17-14a-83/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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