17:12B-267 - Conversion of a capital stock association into a Federal association - New Jersey Statutes

17:12B-267.  Conversion of a capital stock association into a Federal association
    In the case of a capital stock association, the procedure to convert itself  into a Federal association shall be as provided in section 222 (C. 17:12B-222)  of this act except that all references to members shall be construed to mean  stockholders wherever appropriate to the context.  All of the provisions  regarding property, rights, privileges and obligations as contained in section  223 (C. 17:12B-223) of this act shall apply to the conversion of a capital  stock association into a Federal association so that the Federal association  shall be a continuation of the converting capital stock association and  continue to have all of its property, rights, privileges and obligations as  more fully set forth in said section 223.

     L.1974, c. 137, s. 38, eff. Oct. 23, 1974.