N.J. Stat. § 3B:20-22
Current through L. 2024, c. 87.
When a bank holding company which is a corporation acquires 80% or more of the outstanding capital stock of a banking institution, any shares of the capital stock of the banking institution held in a trust estate by a fiduciary may be exchanged for or converted into the capital stock of the bank holding company as an incident of the company's acquisition of the shares.
N.J.S. § 3B:20-22