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N.J. Stat. Ann. § 17:9A-157

Application of article

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. 293, s. 157.

A bank may reorganize in the manner provided by this article if

(1) it is insolvent, or has suspended its business for lack of funds to carry it on, and the commissioner is in possession of its property and business; or

(2) a receiver has been appointed pursuant to section 303.

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.