New Jersey Statutes 17:9A-150. Procedure
Terms Used In New Jersey Statutes 17:9A-150
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
(1) the capital stock and surplus of the national banking association upon its conversion pursuant to this article complies with the requirements of section 151;
(2) the national banking association has complied in all respects with applicable Federal law;
(3) the matters set forth in the affidavit submitted to him pursuant to paragraph (2) of subsection B of section 149 are true;
(4) the certificate of incorporation complies with the requirements of paragraph (2) of subsection B of section 149;
(5) the plan of conversion contains no provisions violative of the laws of this State; and
(6) the directors designated in the certificate of incorporation possess capacity and fitness for the duties and responsibilities with which they will be charged;
he shall endorse upon or annex to the certificate of incorporation a certificate of approval, and the certificate shall thereupon be filed in the department. Upon such filing, the subscribers to the certificate, their successors and assigns shall be a corporation, in the manner provided by, and subject to the provisions of, section 13. The commissioner shall thereupon issue a certificate of authority in the form prescribed by section 14, and shall file a copy thereof in the department, and the bank shall be authorized to transact business.
L.1948, c. 67, p. 290, s. 150. Amended by L.1951, c. 41, p. 150, s. 4.