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Current as of January 01, 2024 | Updated by Findlaw Staff
A. Any two or more banks may, with the approval of the commissioner, merge one or more of them into another of them as provided in this article.
B. A merger may be effected by any one or by any combination of any two or more or all of the following methods:
(1) By the exchange of shares of capital stock of each merging bank for the shares of capital stock of the receiving bank;
(2) By the exchange of shares of capital stock of each merging bank for the shares of capital stock of a company as such term is defined in paragraph (3) of section 132 (C. 17:9A-132);
(3) By the exchange of shares of capital stock of each merging bank for capital notes of the receiving bank;
(4) By the exchange of shares of capital stock of each merging bank for cash received from the receiving bank or from a company as such term is defined in paragraph (3) of section 132 (C. 17:9A-132);
(5) By the exchange of shares of capital stock of each merging bank for capital notes of a company as such term is defined in paragraph (3) of section 132 (C. 17:9A-132).
Cite this article: FindLaw.com - New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 9A-133 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-17-corporations-and-institutions-for-finance-and-insurance/nj-st-sect-17-9a-133/
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