Except to the extent otherwise expressly provided in this act, no bank shall issue its preferred stock for any consideration other than money.
N.J. Stat. Ann. § 17:9A-129
Consideration for preferred stock
Known as the New Jersey Automobile Full Insurance Availability Act
The act spans §§ 17:10B-1 to 17:9A-99 (3,637 sections).
L.1948, c. 67, p. 281, s. 129.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.