17:9A-210 - Write-up of assets; changes in reserves - New Jersey Statutes

17:9A-210.  Write-up of assets;  changes in reserves
    No bank or savings bank shall, except with the written approval of the commissioner, write up any of its assets, or reduce or eliminate any reserve which shall have been established by it pursuant to paragraph (4) of subsection  A of section 50, or with respect to its furniture and fixtures, its banking  houses, or its other real estate, or any other reserve which shall have been  established at the direction of the commissioner;  but this section shall not  prevent a charge to a reserve established for a specific purpose or contingency  or a transfer from such a reserve when such purpose or contingency shall have  happened or shall have been removed.

     L.1948, c. 67, p. 348, s. 210.