17:9A-6.1 - Authorized but unissued stock provided for
17:9A-6.1.Ā Authorized but unissued stock provided for
A bank may, in its original or amended certificate of incorporation make provision for authorized but unissued stock.Ā Such stock may, with the approvalĀ of the Commissioner of Banking as hereinafter provided, be issued for suchĀ purposes, in addition to the purposes expressly authorized by law, and for suchĀ consideration as the board of directors may determine.Ā So long as such stockĀ remains unissued, it shall not constitute capital stock for the purposes of theĀ act to which this act is a supplement.
L.1970, c. 294, s. 1, eff. Dec. 14, 1970.
Ā
A bank may, in its original or amended certificate of incorporation make provision for authorized but unissued stock.Ā Such stock may, with the approvalĀ of the Commissioner of Banking as hereinafter provided, be issued for suchĀ purposes, in addition to the purposes expressly authorized by law, and for suchĀ consideration as the board of directors may determine.Ā So long as such stockĀ remains unissued, it shall not constitute capital stock for the purposes of theĀ act to which this act is a supplement.
L.1970, c. 294, s. 1, eff. Dec. 14, 1970.
Ā