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N.J. Stat. § 3B:20-22

Authority to exchange or convert

New Jersey · New Jersey Statutes Title 3B — Administration of Estates--Decedents and Others · Status: effective

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N.J. Stat. § 3B:20-22, Authority to exchange or convert, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1434876
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When a bank holding company which is a corporation acquires 80% or more of the outstanding capital stock of a banking institution, any shares of the capital stock of the banking institution held in a trust estate by a fiduciary may be exchanged for or converted into the capital stock of the bank holding company as an incident of the company's acquisition of the shares.