There is a newer version of the New Jersey Revised Statutes
2016 New Jersey Revised Statutes
Title 17 - Corporations And Institutions For Finance And Insurance
Section 17:9A-128 - Priority On Dissolution
NJ Rev Stat § 17:9A-128 (2016) What's This?
17:9A-128. Priority on dissolution
Upon a bank's dissolution in any manner, the holders of preferred stock shall be entitled to receive in full the amount specified in the certificate of incorporation or merger agreement providing for the issuance of preferred stock, before any distribution is made to the holders of common stock.
L.1948, c. 67, p. 281, s. 128. Amended by L.1977, c. 417, s. 6, eff. Feb. 24, 1978.
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