Section 17:9A-124 - IssuanceA bank may issue preferred stock
(1) Upon its organization as a successor bank pursuant to section 16; or(2) Upon its reorganization pursuant to Article 24; or(3) Upon amending its certificate of incorporation as provided by Article 19, upon the vote of the holders of at least two-thirds of the shares of each class of stock issued by the bank; or(4) As an incident of a merger when it is a receiving bank as defined in section 132 (C. 17:9A-132).L.1948, c.67, p.277, s.124; amended by L.1977, c.417, s.2, eff. 2/24/1978.