9-1902.   Definition of insolvency.A bank or trust company shall be deemed to be insolvent when (1) theactual cash market value of its assets is insufficient to pay itscreditor liabilities except that for this purpose unconditional evidenceof indebtedness of the United States of America may be valued, at the discretionof the commissioner,at par or cost whichever is the lesser; (2) when it is unable to meet thedemands of its creditors in the usual and customary manner; (3)when it shall fail to make good its reserve as required by this act.

      History:   L. 1947, ch. 102, § 110; L. 1980, ch. 49, § 2; July 1.