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New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 9A-131.31

Current as of January 01, 2024 | Updated by Findlaw Staff

This act shall not apply to any borrowing by a bank, however evidenced, which is payable in 1 year or less from the date of such borrowing nor shall the provisions of sections 4, 9 and 10 of this act  1 apply to any obligation issued by a bank to evidence a loan or loans made to such bank by the New Jersey Mortgage Finance Agency pursuant to the New Jersey Mortgage Finance Agency Law, P.L.1970, c. 38,  2 nor shall the following sections of this act apply to capital notes issued as an incident of a merger effected pursuant to article 21 (C. 17:9A-132 to 17:9A-148) of The Banking Act of 1948, P.L.1948, c. 67:

a. Section 1 (C. 17:9A-131.20), insofar as it provides that capital notes may be issued only to evidence obligations to repay money borrowed by a bank;

b. Section 3 (C. 17:9A-131.32), insofar as it provides that capital notes may be issued only for cash, and insofar as it provides that such notes may be converted only into common stock;

c. Section 6 (C. 17:9A-131.25);

d. Section 7 (C. 17:9A-131.26); and

e. Section 11 (C. 17:9A-131.30).

1 N.J.S.A. §§ 17:9A-131.23, 17:9A-131.28, 17:9A-131.29.
2 N.J.S.A. §§ 17:1B-4 to 17:1B-25 (repealed; see, now, N.J.S.A. § 55:14K-1 et seq.).
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Cite this article: FindLaw.com - New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 9A-131.31 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-17-corporations-and-institutions-for-finance-and-insurance/nj-st-sect-17-9a-131-31/

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