LegalFix
Sign In

Section 17:9A-116 - Nature of amendments

NJ Rev Stat § 17:9A-116 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

17:9A-116. Nature of amendments

A bank may, by amending its certificate of incorporation in the manner provided by this article,

(1) change its corporate name;

(2) increase its capital stock; except that no amendment of the certificate of incorporation pursuant to this article shall be required when an increase in capital stock results from a stock dividend paid as authorized by subsection C of section 52;

(3) decrease its capital stock;

(4) change the par value of its shares;

(5) assume the authority to exercise any or all of the powers specified in section 28;

(6) relinquish the authority to exercise any or all of the powers specified in section 28;

(7) effect any other object, which, pursuant to any other provision of this act, is required or permitted to be effected by amendment of the certificate of incorporation.

L.1948, c. 67, p. 274, s. 116. Amended by L.1955, c. 118, p. 594, s. 2.

Previous Section
Section 17:9A-115 - Bonding of directors, officers, employees; temporary waiver
Next Section
Section 17:9A-117 - Procedure for amending certificate of incorporation