Frix
Try Donna

Reserve for organization expense

New JerseyStatutes

Ask Donna

How this section applies to your facts.

NJ Code › Title 17 › Chapter 9A › Section 9A-5

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

Every bank shall, on its organization, establish a fund at least equal to 5% of its capital stock as a reserve fund for organization expense. Organization expense shall mean all lawful expense incurred preliminary to commencement of business. Any unexpended balance in the fund shall be credited to undivided profits. L.1948, c. 67, p. 183, s. 5. Amended by L.1965, c. 171, s. 2.

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

A word about cookies

We need a few to keep you signed in and the library working. The rest help us see which pages people use and where they get stuck. They stay off unless you say yes.

Reserve for organization expense · N.J. Stat. § 17:9A-5 | Frix