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2020 New Jersey Revised Statutes
Title 17 - Corporations and Institutions for Finance and Insurance
Section 17:9A-180.7 - Investment in stocks limited to certain percentage of surplus
Universal Citation: NJ Rev Stat § 17:9A-180.7 (2020)
17:9A-180.7. Investment in stocks limited to certain percentage of surplus
No savings bank shall make an investment pursuant to this act at any time when the total of all such investments exceeds, or if the making of such investment would cause such total to exceed 75% of its surplus (as hereinafter defined).
L.1953, c. 78, p. 1001, s. 3. Amended by L.1955, c. 205, p. 814, s. 1; L.1963, c. 105, s. 1; L.1966, c. 271, s. 1.
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