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Current as of January 01, 2024 | Updated by Findlaw Staff
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, 1 and
(2) an amount equal to the minimum surplus as required in subsection D of section 19 2 for each branch office to be maintained by the savings bank after the effective date of the merger.
Cite this article: FindLaw.com - New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 9A-202 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-17-corporations-and-institutions-for-finance-and-insurance/nj-st-sect-17-9a-202/
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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