# N.J. Stat. § 17:9A-162: Approval of plan by the court

> New Jersey · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-162

## Section

- **Citation:** N.J. Stat. § 17:9A-162
- **Heading:** Approval of plan by the court
- **Jurisdiction:** New Jersey
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** NJ Code / Title 17 / Chapter 9A / Section 9A-162

## Text

The proposed plan may be modified under the direction of the court. If, after a hearing, the court shall find that the plan, as proposed or modified, (1) complies with the provisions of this article, (2) is fair, equitable and feasible, and, if the plan is proposed by the bank, (3) that the persons who will be the directors and officers of the bank upon reorganization, possess capacity and fitness for the duties and responsibilities with which they will be charged; and (4) that the interest of the public will be served to advantage by the adoption of the plan, it shall approve the plan and fix a time within which the creditors and stockholders adversely affected thereby may accept or reject the plan. L.1948, c. 67, p. 297, s. 162. Amended by L.1953, c. 17, p. 172, s. 30.

## Nearby sections

- [N.J. Stat. § 17:9A-1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-1.md)
- [N.J. Stat. § 17:9A-2 Application of act.](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-2.md)
- [N.J. Stat. § 17:9A-3 Incorporation; certificate of incorporation; officers, directors and employees as incorporators](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-3.md)
- [N.J. Stat. § 17:9A-4 Capital stock and surplus](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-4.md)
- [N.J. Stat. § 17:9A-5 Reserve for organization expense](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-5.md)
- [N.J. Stat. § 17:9A-6 Capital stock; par value and classes](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-6.md)
- [N.J. Stat. § 17:9A-6.1 Authorized but unissued stock provided for](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-6.1.md)
- [N.J. Stat. § 17:9A-6.2 Certificate of amendment, procedure, filing](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-6.2.md)
- [N.J. Stat. § 17:9A-6.3 Consideration for issue; preemptive rights](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-6.3.md)
- [N.J. Stat. § 17:9A-7 Incorporation of savings bank](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-7.md)
- [N.J. Stat. § 17:9A-8.1 Definitions](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-8.1.md)
- [N.J. Stat. § 17:9A-8.2 Capital stock savings bank incorporation](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-8.2.md)
- [N.J. Stat. § 17:9A-8.4 Application for charter; provisions governing](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-8.4.md)
- [N.J. Stat. § 17:9A-8.5 Provision for authorized but unissued stock](https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-8.5.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_NJ_T17_C9A_S9A-162. Check the current official text before relying on it. Not legal advice.