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New Jersey Statutes - Title 17 Corporations And Institutions For Finance And Insurance

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• New Jersey Statutes 17:1-1 Department of Banking and Insurance reconstituted
  17:1-1. The Department of Banking and Insurance, hereinafter in Title 17 of the Revised Statutes and Title 17B of the New Jersey Statutes ...
• New Jersey Statutes 17:1-1.1 Short title
  This act shall be known as, and may be cited as, the "Department of Banking and Insurance Act of 1948." L.1948, c. 88, p. 503, ...
• New Jersey Statutes 17:1-1.2 Effective date
  This act shall take effect on the first day of July, one thousand nine hundred and forty-eight, except that any appointment, and any confirmation of ...
• New Jersey Statutes 17:1-2 Commissioner of Banking and Insurance, appointment, salary; interests prohibited to commissioner, officers, employees
  17:1-2. a. The head of the reconstituted department, to be denominated the Commissioner of Banking and Insurance and hereinafter in Title 17 of ...
• New Jersey Statutes 17:1-3.1 New Jersey Real Estate Commission
  3. There shall be within the Department of Banking and Insurance a division which shall be known as the division of the New ...
• New Jersey Statutes 17:1-5 Seal of office; certificates under seal as evidence
  The seal of office of the commissioner, filed in the department of state, shall continue as the seal of such office. Every certificate, assignment, conveyance ...
• New Jersey Statutes 17:1-8 Fees; disposition
  17:1-8. The commissioner shall charge for a license and for all services performed by the department the fees provided in Title 17 of ...
• New Jersey Statutes 17:1-8.1 Rules, regulations
  1. The commissioner may, in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), promulgate such rules and regulations as are ...
• New Jersey Statutes 17:1-13 Short title
  1. This act shall be known and may be cited as the "Department of Banking and Insurance Act of 1996." L.1996,c.45,s.1. ...
• New Jersey Statutes 17:1-14 Appointments of deputy, assistant commissioners, organization; divisions
  4. a. The commissioner may appoint such deputy commissioners and assistant commissioners as the commissioner shall deem necessary, to serve at the pleasure ...
• New Jersey Statutes 17:1-15 Duties, authority of commissioner
  6. The commissioner, as administrator and chief executive office of the department, shall: a. Administer the work of the department; ...
• New Jersey Statutes 17:1-16 Examination of persons, subpoena of witnesses, documents
  7. For the purpose of effectuating the powers and duties of the department and the commissioner, the commissioner may cause to be examined ...
• New Jersey Statutes 17:1-17 Transfer of appropriations, moneys
  9. All appropriations and other moneys available and to become available to any department, division, bureau, board, commission, or other entity or agency, ...
• New Jersey Statutes 17:1-18 Assignment, transfer of employees
  10. Employees of any department, division, bureau, board, commission or other agency or entity, the functions, powers and duties of which have been ...
• New Jersey Statutes 17:1-19 Tenure, rights preserved
  11. Nothing in this 1996 amendatory and supplementary act shall be construed to deprive any person of any tenure rights or of any ...
• New Jersey Statutes 17:1-20 Transfer of property
  12. All files, books, papers, records, information management systems, equipment and other property of any department, division, bureau, commission, board, or other agency ...
• New Jersey Statutes 17:1-21 References to department, commissioner
  13. With respect to the functions, powers and duties continued in the Department of Banking and Insurance by this 1996 amendatory and supplementary ...
• New Jersey Statutes 17:1-22 Existing orders, rules, regulations not affected
  14. This 1996 amendatory and supplementary act shall not affect the orders, rules, regulations, bulletins, plans of operation, contracts, settlement or consent agreements, ...
• New Jersey Statutes 17:1-23 Actions, proceedings not affected
  15. This 1996 amendatory and supplementary act shall not affect actions or proceedings, civil or criminal, brought by or against the Commissioners of ...
• New Jersey Statutes 17:1-24 Department of Banking and Insurance Study Commission
  16. a. There shall be established the Department of Banking and Insurance Study Commission whose purpose shall be to examine the effects of ...
• New Jersey Statutes 17:1-25 Findings, declarations relative to enforcement powers of Department of Banking and Insurance.
  1. The Legislature finds and declares that: a. Financial institutions increasingly influence and affect the lives and livelihood of ...
• New Jersey Statutes 17:1-26 Definitions relative to enforcement powers of Department of Banking and Insurance.
  2. As used in this act, and except as otherwise expressly provided in this act: "Bank" means a bank as ...
• New Jersey Statutes 17:1-27 Prohibited actions.
  3. No bank, savings bank, State association, or any officer, director, employee, or major shareholder thereof, shall: a. Fail ...
• New Jersey Statutes 17:1-28 Enforcement of, penalties for violations under C.17:1-27.
  4. a. In addition to any other penalty provided by law, if the commissioner determines that a bank, savings bank, State association, or ...
• New Jersey Statutes 17:1C-6.1 Training program for volunteers
  4. The Department of Insurance, in conjunction with the Division on Aging, shall develop a training program for volunteers in the Senior Health Insurance Counseling ...
• New Jersey Statutes 17:1C-19 Findings, declarations relative to the Department's expenses
  1. a. The Legislature finds and declares that: (1) The Department of Insurance has a statutory obligation to protect the interests of New Jersey's insurance ...
• New Jersey Statutes 17:1C-20 Certification of expenses incurred, apportionment
  2. a. The Director of the Division of Budget and Accounting in the Department of the Treasury shall, on or before August 15 ...
• New Jersey Statutes 17:1C-20.1 Distribution of special purpose apportionment
  2. Notwithstanding the provisions of any law to the contrary, the Commissioner of Banking and Insurance shall take that action necessary to ensure ...
• New Jersey Statutes 17:1C-21 Filing of objections to apportionment
  3. Within 15 days after the date of mailing a statement of special purpose apportionment as provided in this act, a company may file its ...
• New Jersey Statutes 17:1C-22 Commissioner's findings, notice
  4. If upon receiving the objections, or after the hearing, the commissioner finds any part of the special purpose apportionment against the objecting company excessive, ...
• New Jersey Statutes 17:1C-23 Notice of delinquency
  5. If a statement of special purpose apportionment against which objections are filed is not paid in full within 30 days after the date of ...
• New Jersey Statutes 17:1C-24 Action for recovery
  6. No action for recovery of an amount paid under this act shall be maintained in any court unless objections have been filed with the ...
• New Jersey Statutes 17:1C-25 No action, proceeding maintained in court for delaying collection, payment
  7. No action or proceeding shall be maintained in any court for the purpose of restraining or delaying the collection or payment of a statement ...
• New Jersey Statutes 17:1C-26 Procedure exclusive
  8. The procedure provided in this act for determining the lawfulness of statements of special purpose apportionment and the recovery of payments made pursuant to ...
• New Jersey Statutes 17:1C-27 Failure, refusal to pay, notice to Treasurer
  9. If any company to which a statement of special purpose apportionment as provided in this act has been mailed fails or refuses to pay ...
• New Jersey Statutes 17:1C-28 Collection of amount due
  10. Within 10 days after receipt of the notice and certified copy of the statement of special purpose apportionment, the State Treasurer shall proceed to ...
• New Jersey Statutes 17:1C-29 Additional remedy
  11. As an additional remedy, the State Treasurer may issue a certificate to the Clerk of the Superior Court, that a company is indebted under ...
• New Jersey Statutes 17:1C-30 Exemption from fees, charges
  12. a. Notwithstanding any law or regulation to the contrary, a company paying the amounts apportioned to it in statements of special purpose apportionment made ...
• New Jersey Statutes 17:1C-31 Permitted increase in amount assessable
  13. Commencing with fiscal year 1999 and in each fiscal year thereafter, the total amount assessable to companies in any fiscal year for ...
• New Jersey Statutes 17:1C-32 Rules, regulations
  14. The State Treasurer and the Commissioner of Insurance may adopt rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), ...
• New Jersey Statutes 17:1C-33 Findings, declarations relative to funding mechanism for Division of Banking.
  1. a. The Legislature finds and declares that: (1) The Division of Banking has a statutory obligation to protect the ...
• New Jersey Statutes 17:1C-34 Definitions relative to funding mechanism for Division of Banking.
  2. For the purposes of this act: "Assessment" means the assessment imposed pursuant to section 3 of this act for ...
• New Jersey Statutes 17:1C-35 Certification of expenses incurred for administration of special administration of functions of Division of Banking; assessments.
  3. a. The Director of the Division of Budget and Accounting in the Department of the Treasury shall, on or before August 15 ...
• New Jersey Statutes 17:1C-36 Objections to assessment, hearing.
  4. Within 15 days after the date of mailing a statement of the assessment as provided in this act, a regulated entity ...
• New Jersey Statutes 17:1C-37 Transmission of findings to objector.
  5. If upon receiving the objections, or after the hearing, the commissioner finds any part of the assessment against the objecting regulated ...
• New Jersey Statutes 17:1C-38 Notice of delinquency, collection.
  6. If a statement of the assessment against which objections are filed is not paid in full within 30 days after the ...
• New Jersey Statutes 17:1C-39 Action for recovery.
  7. No action for recovery of an amount paid under this act shall be maintained in any court unless objections have been ...
• New Jersey Statutes 17:1C-40 Action, proceeding.
  8. No action or proceeding shall be maintained in any court for the purpose of restraining or delaying the collection or payment ...
• New Jersey Statutes 17:1C-41 Exclusive procedure under act.
  9. The procedure provided in this act for determining the lawfulness of statements of the assessment and the recovery of payments made ...
• New Jersey Statutes 17:1C-42 Failure, refusal to pay, notice to Treasurer.
  10. If any regulated entity to which a statement of the assessment as provided in this act has been mailed fails or refuses ...
• New Jersey Statutes 17:1C-43 Procedure for collection.
  11. Within 10 days after receipt of the notice and certified copy of the statement of the assessment, the State Treasurer shall proceed ...
• New Jersey Statutes 17:1C-44 Additional remedies.
  12. As an additional remedy, the State Treasurer may issue a certificate to the Clerk of the Superior Court, that a regulated entity ...
• New Jersey Statutes 17:1C-45 Exemption from fees, charges; exceptions.
  13. a. Notwithstanding any law or regulation to the contrary, a regulated entity paying the amounts assessed to it in statements of the ...
• New Jersey Statutes 17:1C-46 Rules, regulations; contents.
  14. a. The State Treasurer and the commissioner may adopt rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et ...
• New Jersey Statutes 17:1C-47 Total amount assessable.
  15. a. The total amount assessable to regulated entities in any fiscal year for the assessment established by this act shall not exceed ...
• New Jersey Statutes 17:1C-48 Liability for errors, penalties; third degree crime.
  16. a. A depository institution that submits figures on assets, deposits or any other factor used by the department to compute the depository ...
• New Jersey Statutes 17:1D-1 Office for e-HIT.
  8. a. There is established in the Department of Banking and Insurance the Office for the Development, Implementation, and Deployment of Electronic Health ...
• New Jersey Statutes 17:1D-2 Funding of commission budget.
  9. The Department of Banking and Insurance shall fund the approved budget of the commission established pursuant to section 6 of P.L.2007, ...
• New Jersey Statutes 17:1D-3 Rules, regulations.
  10. The Office for e-HIT in the Department of Banking and Insurance, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et ...
• New Jersey Statutes 17:2-1 Bonds secured by mortgage on leaseholds of camp meeting associations--limitations
  All savings and loan associations, building and loan associations, title and mortgage guaranty companies and insurance companies may invest funds in bonds, secured by first ...
• New Jersey Statutes 17:2-2 Bonds issued by commission appointed by supreme court
  Any insurance company, surety, trust and safe deposit company, incorporated under any law of this State, may invest moneys belonging to or deposited with it, ...
• New Jersey Statutes 17:2-4 Bonds of home owners' loan corporation
  Any savings bank, banking institution, trust company, insurance company or building and loan association, organized under the laws of this state and mutual savings banks ...
• New Jersey Statutes 17:2-5 Loans and advances eligible for insurance by federal housing administrator
  Savings banks, banks, banking institutions, trust companies, personal finance companies, mortgage companies, installment lending companies, and other such financial institutions organized under any general or ...
• New Jersey Statutes 17:2-6 General powers
  Savings banks, banks, banking institutions, trust companies, building and loan associations, savings and loan associations, mortgage companies and insurance companies organized under any general or ...
• New Jersey Statutes 17:2-6.1 Insured mortgages and bonds and obligations of national mortgage associations
  Wherever, by statute of this State, collateral is required as security for the deposit of public or other funds; or deposits are required to be ...
• New Jersey Statutes 17:2-7 Laws governing interest rates inapplicable
  No law of this state prescribing or limiting interest rates upon loans, discounts or advances of credit or upon obligations representing loans and advances of ...
• New Jersey Statutes 17:2-8 Other laws governing loans inapplicable; exceptions
  No law of this state prescribing the nature, amount or form of security or requiring security upon which loans or investments may be made or ...
• New Jersey Statutes 17:2-9 Bonds, debentures or other obligations of Federal Home Loan Bank
  Any savings bank, bank, trust company or insurance company, organized under the laws of this State, may invest in the bonds, debentures or other obligations ...
• New Jersey Statutes 17:2-9.2 Veterans, loans to
  Any savings bank, banking institution or trust company organized under the laws of this State, notwithstanding any law of this State prescribing the nature, amount ...
• New Jersey Statutes 17:2-9.3 Legal investments in international banks
  1. The following may, in addition to other investments allowed by law, properly and legally invest any funds, including capital, belonging to them or within ...
• New Jersey Statutes 17:2-9.4 Trust fund, application to
  The provisions of this act shall not apply to any trust fund where the deed of trust, or will, or any court having jurisdiction of ...
• New Jersey Statutes 17:2-10 Development and other bonds of foreign governments or obligations of international development banks
  In addition to investments in obligations of foreign governments permitted by Title 17 of the Revised Statutes or by regulation of the Commissioner of Banking, ...
• New Jersey Statutes 17:2A-1 Definitions
  For the purposes of this act: (a) "Mortgage loan" means: (1) A loan made by a financial institution, secured by a mortgage constituting a lien ...
• New Jersey Statutes 17:2A-2 Emergency rules and regulations; adopted by commissioner
  The Commissioner of Banking and Insurance may adopt rules and regulations affecting financial institutions which hold, make or purchase mortgage loans within a disaster area ...
• New Jersey Statutes 17:2A-3 Basis for rules; rates and interest charges; property not affected by disaster
  In the adoption, implementation and administration of such emergency rules and regulations, the commissioner shall consider the interest of disaster victims, the welfare of the ...
• New Jersey Statutes 17:2A-4 Exercise of emergency powers; declaration by commissioner; operative period of rules and regulations
  Whenever a disaster area is so proclaimed, the Commissioner of Banking and Insurance shall review promptly conditions in the area in order to determine the ...
• New Jersey Statutes 17:2A-5 Extension of termination date
  The commissioner may, upon publication and filing of his finding that emergency conditions concerning mortgage loans still prevail in a disaster area, extend for not ...
• New Jersey Statutes 17:3-1 Extension of time of payment
  When there comes into the custody and control of a receiver appointed by a court of competent jurisdiction, or under authority of a statute of ...
• New Jersey Statutes 17:3-2 Home owners' loan corporation bonds; acceptance by receiver in payment of mortgages
  When there shall come into the custody and control of a receiver or liquidator appointed by a court of competent jurisdiction or under authority of ...
• New Jersey Statutes 17:3-3 Definitions and construction
  The words "receiver," "liquidator" and "official," as used in this section and section 17:3-2 of this Title, include any person or group of persons, who ...
• New Jersey Statutes 17:3A-1 Definitions
  As used in this act: (a) "Corporation" shall mean a corporation organized pursuant to any law of this State, over which the Commissioner of Banking ...
• New Jersey Statutes 17:3A-2 Application during liquidation for order to destroy records, etc.; notice of application; publication; order for destruction
  At any time during the liquidation of a corporation, the liquidator may apply to the Superior Court for an order authorizing the destruction of such ...
• New Jersey Statutes 17:3A-3a Application after liquidation for order to destroy records, etc.; notice of application; publication; order for destruction
  At any time after liquidation of the corporation has been completed and final distribution made, the liquidator may apply to the Superior Court for an ...
• New Jersey Statutes 17:3A-3b Destruction of records after five years from liquidation date without leave of court; notice
  At any time after the expiration of five years from the date on which the liquidation of a corporation shall have been completed and final ...
• New Jersey Statutes 17:3A-4 Liquidator not accountable for authorized destruction
  No liquidator shall be held accountable for any act of destruction authorized in the manner provided by this act. L.1948, c. 266, p. 1158, s. ...
• New Jersey Statutes 17:3A-5 Corporations affected by act
  The provisions of this act shall apply to all corporations heretofore liquidated; to all corporations in process of liquidation on the effective date of this ...
• New Jersey Statutes 17:3A-6 Presumption as to prior law
  No presumption shall be drawn from the enactment of this act that, prior to its passage, liquidators were without power or authority to destroy the ...
• New Jersey Statutes 17:3A-7 Effective date
  This act shall take effect September sixteenth, one thousand nine hundred and forty-eight. L.1948, c. 266, p. 1158, s. 7. ...
• New Jersey Statutes 17:3B-1 Truth in lending; inconsistent state provisions
  To the extent that the provisions of any of the following cited New Jersey laws are inconsistent with respect to disclosure, advertising, terminology, type size, ...
• New Jersey Statutes 17:3B-2 Violation of truth in lending act and state law; civil actions
  When under any law of this State, a civil action is expressly provided for any act or failure to act which constitutes a violation of ...
• New Jersey Statutes 17:3B-3 Rules and regulations
  The Commissioner of Banking and Insurance may promulgate appropriate rules and regulations to effectuate the purposes of this act. L.1969, c. 112, s. 3. ...
• New Jersey Statutes 17:3B-4 Short title
  This act shall be known and may be cited as the "Market Rate Consumer Loan Act." L. 1985, c. 81, s. 1, eff. March 14, ...
• New Jersey Statutes 17:3B-5 Definitions
  Definitions. As used in this act: a. "Borrower" means a natural person or persons obtaining credit for personal, family or household purposes. b. "Closed end ...
• New Jersey Statutes 17:3B-6 Extension of credit under revolving credit plan
  Extension of credit under revolving credit plan. Any lender offering and extending credit under a revolving credit plan to a borrower may charge and collect ...
• New Jersey Statutes 17:3B-7 Interest
  Interest. Notwithstanding the provisions of R.S. 31:1-1, a lender may, subject to the criminal usury provisions of N.J.S. 2C:21-19, charge and collect interest under a ...
• New Jersey Statutes 17:3B-8 Periodic percentage rates
  5. Periodic percentage rates. If the agreement governing the revolving credit plan provides that the periodic percentage rates of interest under the plan may increase ...
• New Jersey Statutes 17:3B-9 Purchases and loans--differing terms
  Purchases and loans--differing terms. A lender may, if the agreement governing a revolving credit plan so provides, impose different terms, including, without limitation, the terms ...
• New Jersey Statutes 17:3B-10 Overdraft accounts
  Overdraft accounts. If credit under a revolving credit plan is offered and extended in connection with a demand deposit account or other account maintained by ...
• New Jersey Statutes 17:3B-11 Omitted installments
  Omitted installments. A lender may at any time extend to a borrower under a revolving credit plan the option of omitting monthly installments. L. 1985, ...
• New Jersey Statutes 17:3B-12 Loans under a revolving credit plan
  9. Loans under a revolving credit plan. If the agreement governing the revolving credit plan so provides, a lender may: a. ...
• New Jersey Statutes 17:3B-13 Revolving credit plan prohibitions
  10. Revolving credit plan prohibitions. No revolving credit plan agreement shall contain: a. An acceleration clause under which any part or ...
• New Jersey Statutes 17:3B-14 Collection costs
  Collection costs. Upon the filing of an action for the collection of an amount in default under the terms of the revolving credit plan, the ...
• New Jersey Statutes 17:3B-15 Changes in terms
  12. Changes in terms. a. A lender may, if the agreement governing a revolving credit plan so provides, at any time amend the ...
• New Jersey Statutes 17:3B-16 Extension of closed end credit
  Extension of closed end credit. A lender may, subject to the provisions of this act, offer and extend closed end credit in amounts, at rates ...
• New Jersey Statutes 17:3B-17 Interest
  Interest. Notwithstanding the provisions of R.S. 31:1-1, a lender extending closed end credit may, subject to the criminal usury provisions of N.J.S. 2C:21-19, charge and ...
• New Jersey Statutes 17:3B-18 Periodic percentage rates
  15. Periodic percentage rates. The periodic percentage rates of interest charged and collected with respect to a loan under a closed end credit ...
• New Jersey Statutes 17:3B-19 Additional charges.
  16. Additional charges. If the closed end loan agreement so provides, a lender may: a. Charge and collect the actual ...
• New Jersey Statutes 17:3B-20 Deferred installments
  Deferred installments. A lender under a closed end credit agreement may, at any time, permit a borrower to defer installment payments on a loan and ...
• New Jersey Statutes 17:3B-21 Insurance
  18. Insurance. A lender under a closed or open end credit agreement may: a. Subject to the terms of the ...
• New Jersey Statutes 17:3B-22 Prepayment in a closed end credit arrangement
  Prepayment in a closed end credit arrangement a. An individual borrower may prepay a loan in full at any time without payment of any prepayment ...
• New Jersey Statutes 17:3B-23 Closed end loan prohibitions
  Closed end loan prohibitions. No closed end loan agreement shall contain: a. An acceleration clause under which any part or all of the balance, not ...
• New Jersey Statutes 17:3B-24 Collection costs in a closed end credit arrangement
  Collection costs in a closed end credit arrangement. Upon the filing of an action for the collection of an amount in default under the terms ...
• New Jersey Statutes 17:3B-25 Applicable federal law
  Applicable federal law. Revolving credit plans or closed end credit agreements shall be subject to the federal truth in lending provisions of the "Consumer Credit ...
• New Jersey Statutes 17:3B-26 Administrative regulations
  Administrative regulations. The Commissioner of Banking may promulgate regulations to implement the provisions of this act. L. 1985, c. 81, s. 23, eff. March 14, ...
• New Jersey Statutes 17:3B-27 Nonexclusivity
  Nonexclusivity. The provisions of this act are not exclusive and the lender may at its option elect to extend credit either pursuant to this act ...
• New Jersey Statutes 17:3B-29 Findings, declarations relative to bank revolving credit plans
  1. a. The Legislature finds and declares that: (1) Interest that can be charged by issuers of bank credit cards may ...
• New Jersey Statutes 17:3B-30 Definitions relative to bank revolving credit plans
  2. As used in this act: "Bank" means any state or federally charted bank, savings bank or savings and loan association. ...
• New Jersey Statutes 17:3B-31 Bank permitted to offer credit under revolving credit plan
  3. A bank may, subject to any limitations on lending authority contained in its charter or otherwise imposed by law, and subject to ...
• New Jersey Statutes 17:3B-32 Bank permitted to charge, collect periodic interest under revolving credit plan
  4. A bank may charge and collect periodic interest under a revolving credit plan on outstanding unpaid indebtedness in the borrower's account under ...
• New Jersey Statutes 17:3B-33 Periodic percentage rate, rates of interest may vary
  5. If the agreement governing the revolving credit plan so provides, the periodic percentage rate or rates of interest under the plan may ...
• New Jersey Statutes 17:3B-34 Additional interest, charges permitted
  6. In addition to or in lieu of interest at a periodic rate or rates as provided pursuant to sections 4 and 5 ...
• New Jersey Statutes 17:3B-35 Imposition of different terms
  7. A bank may, if the agreement governing a revolving credit plan so provides, impose different terms, including without limitation, the terms governing ...
• New Jersey Statutes 17:3B-36 Customary checking charges may be imposed
  8. If credit under a revolving credit plan is offered and extended in connection with a demand deposit account or other transaction account ...
• New Jersey Statutes 17:3B-37 Omission of monthly installments
  9. A bank may at any time and from time to time unilaterally extend to a borrower under a revolving credit plan the ...
• New Jersey Statutes 17:3B-38 Insurance for borrower requested, required
  10. a. A bank may request but not require an individual borrower to be insured with respect to a revolving credit plan under ...
• New Jersey Statutes 17:3B-39 Imposition of late, delinquency charge
  11. If the agreement governing a revolving credit plan so provides, a bank may impose, as interest, a late or delinquency charge upon ...
• New Jersey Statutes 17:3B-40 Default by borrower, attorney's, collection agency's fee
  12. If a borrower defaults under the terms of a plan and the bank refers the borrower's account for collection to an attorney ...
• New Jersey Statutes 17:3B-41 Terms of agreement, amendment
  13. a. A bank may, if the agreement governing a revolving credit plan so provides, at any time, or from time to time, ...
• New Jersey Statutes 17:3B-42 Other laws not applicable; exceptions
  14. Any other law of this State limiting the rate or amount of interest, discount, points, finance charges, service charges or other charges ...
• New Jersey Statutes 17:3B-43 Nonexclusivity of act
  15. The provisions of this act are not exclusive and a bank may extend credit either pursuant to this act or as otherwise ...
• New Jersey Statutes 17:3B-44 Charges considered interest
  16. Notwithstanding the characterization of certain charges in the act as interest, all charges permitted by this act which may be deemed interest ...
• New Jersey Statutes 17:3B-45 Laws of State govern revolving credit plan, conditions
  17. A revolving credit plan between a bank and an individual borrower shall be governed by the laws of this State if the ...
• New Jersey Statutes 17:3B-46 Provisions of act may apply to any revolving credit plans
  18. a. A bank may apply the provisions of this act to any of its revolving credit plans. b. A bank ...
• New Jersey Statutes 17:3C-1 Prohibition; exceptions
  No banking institution, as said term is defined in section 1 of the Banking Act of 1948 (C. 17:9A-1), bank holding company, savings and loan ...
• New Jersey Statutes 17:4-9.1 Substitution of "successor" company for "liquidating" company as fiduciary; account; bond
  Whenever a "successor company" has been or may hereafter be formed under and by virtue of the provisions of section 17:4-9 and has qualified to ...
• New Jersey Statutes 17:6-53.1 Veterans' loans as legal investments
  Every savings bank, including any savings bank organized under a special charter as a stock company previous to March eighth, one thousand eight hundred and ...
• New Jersey Statutes 17:6-53.2 Mortgages securing veterans' loans not subject to s.s. 17:6-55, 17:6-59
  In case a mortgage on real or personal property is taken as security for any such loan, it shall not be subject to the provisions ...
• New Jersey Statutes 17:6-59.1 Legality of investments; sale of exchanged securities
  a. The board of managers, in determining whether any bond, debenture, other security or investment meets the requirements as to the legality of investment therein, ...
• New Jersey Statutes 17:9-9 Depositories for public moneys; designation; effect upon officers liability
  Any administrative board, commission, department, public official, sinking fund commission, district or other public agency of the state or of any political subdivision thereof, charged ...
• New Jersey Statutes 17:9-41 Definitions
  1. In this act, unless the context otherwise requires: "Association" means any State or federally chartered savings and loan association; ...
• New Jersey Statutes 17:9-42 Security requirement for public depositories
  No governmental unit shall deposit public funds in a public depository unless such funds are secured in accordance with this act. L.1970, c. 236, s. ...
• New Jersey Statutes 17:9-43 Powers of commissioner
  The commissioner shall have power: a. To require any public depository to furnish such information and furnish such reports dealing with public funds on deposit ...
• New Jersey Statutes 17:9-44 Collateral as security
  a. Every public depository having public funds on deposit therein shall, as security for such deposits, maintain eligible collateral having a market value at least ...
• New Jersey Statutes 17:9-45 Proceedings after determination of default; pro rata distribution of collateral; assessment of other public depositories for deficiency
  When the commissioner determines that an event of default has occurred, he shall proceed in the following manner: a. Within 20 days after the occurrence ...
• New Jersey Statutes 17:9-46 Distribution of proceeds of liquidation of defaulting depository
  Upon payment to a governmental unit, the commissioner shall be subrogated to all of such governmental unit's right, title and interest against the defaulting depository. ...
• New Jersey Statutes 17:9-47 Operative date
  The provisions of this act shall become operative on December 1, 1970, but the commissioner may issue appropriate regulations in advance thereof. L.1970, c. 236, ...
• New Jersey Statutes 17:9-48 Short title
  This act shall be known and may be cited as the "Governmental Unit Deposit Protection Act." L.1970, c. 236, s. 8, eff. Oct. 27, 1970. ...
• New Jersey Statutes 17:9A-1 Definitions
  1. As used in this act, and except as otherwise expressly provided in this act: (1) "Bank" shall include the ...
• New Jersey Statutes 17:9A-2 Application of act.
  2. Application of act. A. No corporation, other than a national banking association, shall hereafter be organized to transact ...
• New Jersey Statutes 17:9A-2.1 Authority of commissioner relative to out-of-State supervisor
  27. The commissioner is authorized to enter into contracts with bank supervisors of other states for the purpose of establishing effective and ...
• New Jersey Statutes 17:9A-3 Incorporation; certificate of incorporation; officers, directors and employees as incorporators
  Incorporation; certificate of incorporation; officers, directors and employees as incorporators. A. Seven or more persons, of full age, may incorporate a bank on the terms ...
• New Jersey Statutes 17:9A-4 Capital stock and surplus
  A. The capital stock of every bank hereafter organized shall amount to not less than: (1) $100,000.00, if the population of the municipality wherein the ...
• New Jersey Statutes 17:9A-5 Reserve for organization expense
  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. ...
• New Jersey Statutes 17:9A-6 Capital stock; par value and classes
  A. Except as otherwise provided in this section the par value of the shares of the capital stock issued by any bank shall be not ...
• New Jersey Statutes 17:9A-6.1 Authorized but unissued stock provided for
  A bank may, in its original or amended certificate of incorporation make provision for authorized but unissued stock. Such stock may, with the approval of ...
• New Jersey Statutes 17:9A-6.2 Certificate of amendment, procedure, filing
  2. Prior to the time when authorized or unissued shares are issued by a bank, a certificate of amendment made by two ...
• New Jersey Statutes 17:9A-6.3 Consideration for issue; preemptive rights
  Authorized but unissued stock may be issued pursuant to this act for cash or for consideration other than cash, and may be issued without first ...
• New Jersey Statutes 17:9A-7 Incorporation of savings bank
  Nine or more persons, of full age, may incorporate a savings bank on the terms and provisions prescribed by this act. Such persons shall execute ...
• New Jersey Statutes 17:9A-8 Capital deposits; payment
  Capital deposits; payment. A. The capital deposits in every savings bank hereafter organized shall amount to not less than: (1) $100,000.00, if the population of ...
• New Jersey Statutes 17:9A-8.1 Definitions
  For the purposes of this act: a. "Capital stock savings bank" means a savings bank organized or converted pursuant to this act; b. "Commissioner" means ...
• New Jersey Statutes 17:9A-8.2 Capital stock savings bank incorporation
  Nine or more persons, over the age of 18 years, may incorporate a capital stock savings bank in this State on the terms and provisions ...
• New Jersey Statutes 17:9A-8.3 Capital stock; reserve fund; surplus
  The capital stock for every capital stock savings bank hereafter organized shall be the amount required for banks pursuant to the provisions of section 4 ...
• New Jersey Statutes 17:9A-8.4 Application for charter; provisions governing
  Application for a charter, a hearing thereon, and approval by the commissioner shall be governed by the provisions of Article 4 of P.L.1948, c. 67 ...
• New Jersey Statutes 17:9A-8.5 Provision for authorized but unissued stock
  5. a. A capital stock savings bank may, in its original or amended certificate of incorporation, make provision for authorized but unissued stock. ...
• New Jersey Statutes 17:9A-8.6 Certificate of incorporation; amendments; provisions governing
  Amendments to the certificate of incorporation of a capital stock savings bank shall be effected pursuant to the provisions of Article 19 of P.L.1948, c. ...
• New Jersey Statutes 17:9A-8.7 Bylaws; powers of stockholders; provisions governing
  The stockholders of a capital stock savings bank shall have the power to make, alter and repeal bylaws pursuant to the provisions of Article 16 ...
• New Jersey Statutes 17:9A-8.8 Annual meetings; voting rights and liability of stockholders; books and records; provisions governing
  The annual meetings, voting rights of stockholders, liability of stockholders, and the maintenance of a capital stock savings bank's books and records shall be governed ...
• New Jersey Statutes 17:9A-8.9 Dividends; law applicable
  A capital stock savings bank may declare dividends on its capital stock pursuant to the provisions of section 52 of P.L.1948, c. 67 (C. 17:9A-52). ...
• New Jersey Statutes 17:9A-8.10 Stock options; law applicable
  A capital stock savings bank shall have the authority to grant stock options to officers and employees pursuant to the provisions of P.L.1964, c. 202 ...
• New Jersey Statutes 17:9A-8.11 Mergers with savings banks; provisions governing
  A capital stock savings bank may merge with another savings bank, whether mutual or capital stock, pursuant to the provisions of Article 21 of P.L.1948, ...
• New Jersey Statutes 17:9A-8.12 Savings bank laws control
  12. All other powers, rights, and privileges not expressly provided for in this act shall be governed by the laws of this State relating to ...
• New Jersey Statutes 17:9A-8.13 Savings bank; conversion into capital stock savings bank
  a. A savings bank which is organized pursuant to the provisions of P.L.1948, c. 67 (C. 17:9A-1 et seq.) may convert itself into a capital ...
• New Jersey Statutes 17:9A-8.14 Plan of conversion
  The conversion of a savings bank into a capital stock savings bank shall be effected in accordance with the plan of conversion adopted by two-thirds ...
• New Jersey Statutes 17:9A-8.15 Capital structure; converted bank
  After conversion pursuant to the provisions of this act, each capital stock savings bank shall maintain an adequate capital structure appropriate for the conduct of ...
• New Jersey Statutes 17:9A-8.16 Federal savings bank; conversion
  No savings bank or capital stock savings bank shall convert to a federal savings bank without the approval of the commissioner. The commissioner shall approve ...
• New Jersey Statutes 17:9A-8.17 Rules and regulations
  The commissioner may promulgate rules and regulations necessary to effectuate the purposes of this act. L.1982, c. 9, s. 17, eff. March 4, 1982. ...
• New Jersey Statutes 17:9A-9 Application for charter
  A. The certificate of incorporation of every bank and savings bank shall be submitted to the commissioner within 60 days after its execution, together with ...
• New Jersey Statutes 17:9A-10 Hearing on application for charter; notice and publication
  If the commissioner shall find that the certificate of incorporation and the affidavit specified in section 9 comply with the requirements of this act, he ...
• New Jersey Statutes 17:9A-11 Hearing on application for charter; approval
  A. At the time and place designated for the hearing, the incorporators shall file proof with the commissioner that the publication and mailing of the ...
• New Jersey Statutes 17:9A-12 Filing of certificate of incorporation; amendment prior to payment of capital stock or capital deposits
  A. If the application shall be approved by the commissioner, he shall endorse upon or annex to the certificate of incorporation a certificate of approval ...
• New Jersey Statutes 17:9A-13 Beginning of corporate existence; certificate of incorporation as evidence
  A. Upon the filing of the certificate of incorporation as specified in section 12, the subscribers to the certificate, their successors and assigns, shall be ...
• New Jersey Statutes 17:9A-14 Certificate of authority
  A. When the bank or savings bank shall have proved to the satisfaction of the commissioner, by affidavit of two of its officers, and when ...
• New Jersey Statutes 17:9A-15 Review of refusal to issue certificate of authority
  The commissioner shall, within 30 days after the filing of the affidavit specified in section 14, issue the said certificate of authority, or notify the ...
• New Jersey Statutes 17:9A-16 Organization of a bank or savings bank at location occupied by a bank or savings bank in process of or in contemplation of liquidation
  A. As used in this section: (1) "successor bank" means a bank organized to transact business at one or more of the locations occupied by ...
• New Jersey Statutes 17:9A-17 Dissolution of bank or savings bank on failure to obtain certificate of authority, or to commence business
  A. If a bank or savings bank shall (1) fail to obtain a certificate of authority within 6 months from the date of the commissioner's ...
• New Jersey Statutes 17:9A-17.1 Definitions
  1. As used in this act: "Corporation" means either a capital stock savings bank or a bank, as the case may be. "Federal Deposit Insurance ...
• New Jersey Statutes 17:9A-17.2 Conversion of capital stock savings bank, bank; proceedings
  2. A capital stock savings bank may apply to the commissioner to convert itself to a bank by organizing and transferring its assets and liabilities ...
• New Jersey Statutes 17:9A-17.3 Contents of application
  3. An application by a State bank or capital stock savings bank to convert its charter pursuant to this act shall contain the following: a. ...
• New Jersey Statutes 17:9A-17.4 Requirements for conversion approval
  4. The commissioner shall not approve the application of a State bank or capital stock savings bank to convert pursuant to this act unless the ...
• New Jersey Statutes 17:9A-17.5 Other conditions for conversions under mergers
  5. The commissioner may approve the conversion of a corporation which does not satisfy the capital maintenance requirements set forth in subsection c. of section ...
• New Jersey Statutes 17:9A-17.6 Notification to applicant
  6. a. Within 60 days of receipt of the information and documents specified in section 3 of this act, the commissioner shall notify the applicant ...
• New Jersey Statutes 17:9A-17.7 Filing of certificate of incorporation
  7. The certificate of incorporation with the commissioner's approval endorsed thereon or annexed thereto shall be filed in the department, and shall be recorded within ...
• New Jersey Statutes 17:9A-18 Names of banks, savings banks; use, certain, waiver.
  18. A. The name of every bank shall contain the word "bank" or "banking" or "trust," or a combination of the words "bank" ...
• New Jersey Statutes 17:9A-18.1 Persons ineligible to serve as officer, director, employee.
  1. Except with the written consent of the commissioner, no person shall serve as an officer, director or employee of a bank, ...
• New Jersey Statutes 17:9A-18.2 Penalty
  For each willful violation of this prohibition, the bank or savings bank shall be liable to a penalty of not more than $100.00 a day, ...
• New Jersey Statutes 17:9A-19 Communication terminal facility; capital requirements
  19. A. Any bank or savings bank may, pursuant to a resolution of its board of directors or board of managers, establish and ...
• New Jersey Statutes 17:9A-19.1 Certain branch offices not affected by act
  Nothing in this act shall affect the continued maintenance of any branch office lawfully in operation on the effective date hereof, nor shall anything in ...
• New Jersey Statutes 17:9A-19.2 Authority for insured depository institution to act as agent for affiliate; construction of "control"; authority of commissioner
  1. a. An insured depository institution located in this State may accept deposits and conduct other banking business as agent for any affiliate, ...
• New Jersey Statutes 17:9A-20 Application for establishment of full branch office, minibranch office, communication terminal facility
  20. A. (1) Before any full branch office shall be established, the bank or savings bank shall file written application in the department ...
• New Jersey Statutes 17:9A-20.1 Establishment, maintenance of out-of-State branch offices
  11. a. A bank or savings bank may, pursuant to a resolution of its board of directors, establish and maintain a branch office ...
• New Jersey Statutes 17:9A-20.2 . Powers of out-of-State banks operating branch office in State
  12. An out-of-State bank that opens, occupies or maintains a branch office in this State shall have in this State only the ...
• New Jersey Statutes 17:9A-20.3 Out-of-State, national bank; establishment, maintenance of additional branch office
  13. a. An out-of-State bank with at least one branch office in this State, and a national bank with at least one branch ...
• New Jersey Statutes 17:9A-20.4 Short title
  1. This act shall be known as and may be cited as the "Trust Modernization Act of 1999." L.1999,c.159,s.1. ...
• New Jersey Statutes 17:9A-20.5 Establishment of trust office
  3. a. A qualified bank may establish a trust office anywhere in this State, or in any other state which permits the establishment ...
• New Jersey Statutes 17:9A-21 Termination of right to open, operate branch office; discontinuance
  21. A. The failure of a bank, out-of-State bank or savings bank to open and operate a branch office within one year after ...
• New Jersey Statutes 17:9A-22 Changing location of office
  22. A. Upon filing an application therefor in the department, and upon obtaining the approval of the commissioner thereto a bank or ...
• New Jersey Statutes 17:9A-23 Change of location from principal to branch office
  23. A bank or savings bank may, without satisfying the requirements of section 22 of P.L.1948, c.67 (C.17:9A-22), change the location of ...
• New Jersey Statutes 17:9A-23.1 Auxiliary offices
  A bank or savings bank may, pursuant to resolution of its board of directors or board of managers, establish and maintain not more than one ...
• New Jersey Statutes 17:9A-23.2 Auxiliary office, establishment, location
  2. No auxiliary office shall be established or maintained at a location which is outside this State or more than one mile ...
• New Jersey Statutes 17:9A-23.3 Business which may be transacted at auxiliary office
  No business shall be transacted at an auxiliary office other than (a) the receipt of deposits of currency, checks and other items; (b) the payment ...
• New Jersey Statutes 17:9A-23.4 Business to be transacted with persons outside the structure
  The business authorized by section 3 of this act shall be transacted only with persons who, while such business is being transacted, remain outside the ...
• New Jersey Statutes 17:9A-23.5 Property which may be used for auxiliary office; limitation on cost; parking facilities
  A bank or savings bank may, for the purposes of establishing an auxiliary office or offices, purchase or lease real property, or it may use ...
• New Jersey Statutes 17:9A-23.6 Auxiliary office not deemed branch office
  An auxiliary office shall not be deemed a branch office within the meaning of sections 19 through 23 and section 233 of the act to ...
• New Jersey Statutes 17:9A-23.7 Certain powers of banks not affected
  Nothing in this act shall impair the power of a bank or savings bank to purchase, hold, lease or convey real property or any interest ...
• New Jersey Statutes 17:9A-23.8 Distances, measurement for purposes of act
  For the purposes of this act, distances shall be measured along a straight line drawn between the center point of the main entrance of the ...
• New Jersey Statutes 17:9A-23.9 Establishment of branch offices on army, navy or air force installations
  A bank may, with the approval of the Commissioner of Banking and Insurance, establish and maintain a branch office on any United States Army, Navy, ...
• New Jersey Statutes 17:9A-23.10 Investigation and hearing; requirements and conditions to approval of application
  Before approving an application to establish a branch office at any Army, Navy, or Air Force installation in this State, the commissioner, after such investigation ...
• New Jersey Statutes 17:9A-23.11 Branch offices, location, removal, interchange
  3. a. A branch office established pursuant to this act may be located anywhere in this State. b. No branch ...
• New Jersey Statutes 17:9A-23.12 Law applicable to branch offices on army, navy or air force installations
  Except as herein otherwise expressly provided, the establishment and maintenance of branch offices on Army, Navy, or Air Force installations shall be subject to all ...
• New Jersey Statutes 17:9A-23.13 Bank defined
  As used in this act, "bank" includes banks and savings banks as defined in section 1 of the act to which this act is a ...
• New Jersey Statutes 17:9A-23.50 Definitions relative to emergency banking
  1. As used in this act unless the context requires otherwise, (a) "Commissioner" means the Commissioner of Banking and ...
• New Jersey Statutes 17:9A-23.51 Proclamation of emergency
  Whenever the commissioner is of the opinion that an emergency exists in this State or in any part or parts of this State, he shall, ...
• New Jersey Statutes 17:9A-23.52 Powers of officers
  Whenever the officers of a bank are of the opinion that an emergency exists which affects one or more or all the bank's offices, they ...
• New Jersey Statutes 17:9A-23.53 Notice to commissioner
  A bank closing an office or offices pursuant to this act shall give as prompt notice to the commissioner of its action as conditions will ...
• New Jersey Statutes 17:9A-23.54 Immunity from liability
  No bank and no director, officer or employee of a bank shall be liable to any person for any direct or indirect loss suffered by ...
• New Jersey Statutes 17:9A-23.55 Construction of act
  The provisions of this act shall be construed and applied as being in addition to and not in substitution for any other law of this ...
• New Jersey Statutes 17:9A-23.56 Regulations of commissioner
  The commissioner may make such orders and regulations, not inconsistent with this act, as he shall deem necessary during an emergency to provide for the ...
• New Jersey Statutes 17:9A-23.57 Short title
  This act may be cited as the "Emergency Banking Act." L.1968, c. 149, s. 8, eff. July 12, 1968. ...
• New Jersey Statutes 17:9A-24 Powers of banks and savings banks
  Powers of banks and savings banks. Every bank and savings bank shall, subject to the provisions of this act, have the following powers, whether or ...
• New Jersey Statutes 17:9A-24b1 Exercise of powers, rights, benefits, privileges
  1. Notwithstanding the provisions of P.L.1948, c.67 (C.17:9A-1 et seq.) or any other law, banks and savings banks may exercise those powers, ...
• New Jersey Statutes 17:9A-24.1 Definitions
  As used in this act, (a) "bank services" means services such as check and deposit sorting and posting, computation and posting of interest and other ...
• New Jersey Statutes 17:9A-24.2 Investment in bank service corporations
  2. Banks and savings banks may avail themselves of the services of bank service corporations, and may invest in bank service corporations, but no such ...
• New Jersey Statutes 17:9A-24.3 Performance of services rendered by bank service corporations
  Banks and savings banks may perform for other banking institutions and others than banking institutions any service or services which may be rendered by bank ...
• New Jersey Statutes 17:9A-24.4 Regulations by commissioner; powers
  The commissioner shall have power to make, amend and repeal regulations governing the exercise of the powers conferred upon banks and savings banks by sections ...
• New Jersey Statutes 17:9A-24.5 Conduct of other business by bank service corporation prohibited
  No bank service corporation shall conduct any business other than the performing of bank services for banking institutions. L.1964, c. 160, s. 5. ...
• New Jersey Statutes 17:9A-24.6 Receiving of bank services from other banking institution or other person
  Nothing herein shall prevent a bank or savings bank from receiving bank services from another banking institution or from any other person. As used in ...
• New Jersey Statutes 17:9A-24.7 Investments in stock of clearing corporations by qualified banks
  A qualified bank, as defined in section 1 of the act to which this act is a supplement (C. 17:9A-1), shall have power to subscribe ...
• New Jersey Statutes 17:9A-24.8 Powers conferred by act as in addition to other powers
  The power conferred by this act shall be in addition to and not in substitution for any powers otherwise conferred by law upon qualified banks. ...
• New Jersey Statutes 17:9A-24.9 Additional powers of banks and savings banks
  8. Additional powers of banks and savings banks. In addition to the powers which banks and savings banks may otherwise exercise, every ...
• New Jersey Statutes 17:9A-24.10 "Loan"
  As used in this act, "loan" includes loans which are in amounts of $10,000.00 or more, and are payable on demand and are secured (a) ...
• New Jersey Statutes 17:9A-24.11 Interest rate or other compensation
  In making a loan, a banking institution, as defined in section 1 of "The Banking Act of 1948," P.L.1948, c. 67 (C. 17:9A-1), may, providing ...
• New Jersey Statutes 17:9A-24.12 Additional investment authority of banks
  In addition to investments otherwise authorized by law, a bank or savings bank may invest in any kind or kinds of assets, wherever located, of ...
• New Jersey Statutes 17:9A-24.13 Regulations
  The commissioner may make, amend and repeal regulations prescribing the amount, location, required collateral or purpose of any investment made in accordance with this act ...
• New Jersey Statutes 17:9A-24.14 Bank loans authorized for business enterprises
  Any bank, bank holding company, or savings bank may establish a subsidiary for the purpose of originating loans or loans and technical assistance packages for ...
• New Jersey Statutes 17:9A-25 Additional powers of banks.
  25. Additional powers of banks. In addition to the powers specified in section 24, every bank shall, subject to the ...
• New Jersey Statutes 17:9A-25.1 Banks; retirement benefits for officers and employees
  A bank may pay retirement and other benefits to its officers and employees in the manner provided by the Banks' and Savings Banks' Officers' and ...
• New Jersey Statutes 17:9A-25.2 Regulations authorizing loans not authorized by L.1948, c. 67; power of commissioner
  The Commissioner of Banking and Insurance shall have power to make, amend and repeal regulations authorizing banks to make specified kinds of loans or investments ...
• New Jersey Statutes 17:9A-25.3 Preservation of dual banking system
  In exercising the power conferred upon him by this act, the commissioner shall consider the statutes, regulations and rulings governing the lending and investing powers ...
• New Jersey Statutes 17:9A-25.4 Banks defined
  As used in this act, "banks" means banks, other than savings banks, organized and operating under the laws of this State. L.1966, c. 279, s. ...
• New Jersey Statutes 17:9A-25.5 Additional powers of banks
  A. In addition to the powers which banks may otherwise exercise, every bank, as defined in the act to which this act is a supplement, ...
• New Jersey Statutes 17:9A-26 Additional powers of savings banks
  Additional powers of saving banks. In addition to the powers specified in section 24, every savings bank shall, subject to the provisions of this act, ...
• New Jersey Statutes 17:9A-27 Effect of exercise of certain powers; disclosure of information by commissioner
  A. The authority by this act granted to exercise the powers specified in paragraphs (6), (7) and (8) of section 24, paragraph (12) of section ...
• New Jersey Statutes 17:9A-27.2 Title insurance; safe deposit boxes; banks engaged in business before September 16, 1948
  Every bank, as defined in the act to which this act is a supplement, which had been engaged in business prior to September sixteenth, one ...
• New Jersey Statutes 17:9A-27.3 Definitions
  As used in this act, unless the context otherwise requires, (a) "commissioner" means the Commissioner of Banking and Insurance of New Jersey; (b) "bank" includes ...
• New Jersey Statutes 17:9A-27.4 Adoption of plan; scope of plan
  A. If the original or amended certificate of incorporation of a bank other than a savings bank so provides, a plan or plans may be ...
• New Jersey Statutes 17:9A-27.5 Provisions of plans
  In addition to the objects stated in paragraph (f) of section 3 of this act, and in addition to those provisions which are elsewhere in ...
• New Jersey Statutes 17:9A-27.6 Contributions
  A plan may provide that the contributions or other charges required to be made or paid to the fund out of which, or by means ...
• New Jersey Statutes 17:9A-27.7 Alteration and rescission of plan
  A. A plan maintained by a savings bank may, subject to the provisions of section 22 of this act, be rescinded, or may be altered ...
• New Jersey Statutes 17:9A-27.8 Methods of effecting plans
  A plan may be effected and maintained through (a) a fund accumulated from the income of a bank, or set aside out of surplus, out ...
• New Jersey Statutes 17:9A-27.9 Eligibility for retirement benefits
  An employee shall be eligible to begin receiving retirement benefits at such age as shall be specified in a retirement plan. L.1953, c. 124, p. ...
• New Jersey Statutes 17:9A-27.10 Disposition of contributions of employee
  Every plan shall provide that, upon termination of employment of an employee for any cause other than retirement pursuant to such plan, or upon the ...
• New Jersey Statutes 17:9A-27.11 Disposition of contributions of employer
  A plan may, but need not, provide that, upon termination of employment of an employee for any cause specified in such plan, other than retirement ...
• New Jersey Statutes 17:9A-27.12 Rights of creditors of bank
  No depositor or other creditor of any bank shall have any right in or claim against any retirement fund authorized by this act. L.1953, c. ...
• New Jersey Statutes 17:9A-27.15 Determination of eligibility for retirement
  In determining the eligibility for retirement of an employee of a bank, a plan may provide that (a) the period or periods during which the ...
• New Jersey Statutes 17:9A-27.16 Eligibility for retirement; permissive provisions
  A. In determining the eligibility for retirement of an employee, a plan may provide that (a) the period during which such employee was employed by ...
• New Jersey Statutes 17:9A-27.17 Disposition of plans of predecessor bank
  A. A successor bank may, with the approval of the commissioner, (a) continue any existing plan or plans, or fund or funds maintained or participated ...
• New Jersey Statutes 17:9A-27.18 Attachment and garnishment
  Any retirement benefit shall be subject to execution, attachment, garnishment or other legal process to the extent and by the same procedure as provided by ...
• New Jersey Statutes 17:9A-27.19 Delegation of administration of plan
  The board of directors may delegate the administration of any plan or fund to its executive committee or to a pension committee appointed by it. ...
• New Jersey Statutes 17:9A-27.20 Continuance of payments
  A bank which, on the effective date of this act, is paying an employee a retirement benefit, pension or disability benefit not contrary to law ...
• New Jersey Statutes 17:9A-27.21 Continuance of prior plans
  A bank which, on the effective date of this act, maintains or participates in a retirement plan or fund not contrary to law in effect ...
• New Jersey Statutes 17:9A-27.22 Approval of commissioner of adoption or alteration of plan
  A. Every plan hereafter adopted by a savings bank or hereafter substantially altered by a savings bank within the meaning of subsection D of section ...
• New Jersey Statutes 17:9A-27.23 Additional powers
  In addition to the powers conferred by the preceding sections of this act, a bank shall have power to do all, or some, or 1 ...
• New Jersey Statutes 17:9A-27.24 Retirement benefits not paid pursuant to plan
  A. A bank which maintains a retirement plan may pay (1) retirement benefits in reasonable amounts to employees whose employment has heretofore terminated or shall ...
• New Jersey Statutes 17:9A-27.25 Powers of commissioner
  If it shall appear to the commissioner that any payment made by any bank for any benefit provided for by sections 23 or 24 of ...
• New Jersey Statutes 17:9A-27.26 Approval by commissioner
  Whenever, under the provisions of this act, the approval of the commissioner is required, written application for such approval shall be made to the commissioner ...
• New Jersey Statutes 17:9A-27.27 Short title
  This act may be cited as the Banks' and Savings Banks' Officers' and Employees' Retirement and Benefit Act. L.1953, c. 124, p. 1321, s. 27. ...
• New Jersey Statutes 17:9A-27.50 Stock option plan
  a. Subject to the limitations prescribed by this act, a bank may grant options to purchase shares of its capital stock to its officers and ...
• New Jersey Statutes 17:9A-27.51 Filing copy of plan and certificate of adoption and approval
  Before any stock option plan shall be placed in operation, a copy thereof shall be filed in the Department of Banking and Insurance, together with ...
• New Jersey Statutes 17:9A-27.52 Provision in certificate of incorporation for authorized but unissued shares of capital stock
  In order to have shares of its capital stock available for the purposes of this act, a bank may provide in its certificate of incorporation, ...
• New Jersey Statutes 17:9A-27.53 Certificate of bank; findings of commissioner; approval
  A. Prior to the date of the issuance of authorized and unissued shares of the capital stock of a bank for the purposes of this ...
• New Jersey Statutes 17:9A-27.54 Short title
  This act may be cited as the Bank Officers and Employees' Stock Option Plan Act. L.1964, c. 202, s. 5. ...
• New Jersey Statutes 17:9A-28 Agency and fiduciary powers
  Agency and fiduciary powers. A bank which is a qualified bank shall have the following agency and fiduciary powers in addition to the powers specified ...
• New Jersey Statutes 17:9A-28.1 Broker-dealer as custodian
  a. Notwithstanding any other provision of law to the contrary, a qualified bank may: (1) employ any broker-dealer which is registered with the federal Securities ...
• New Jersey Statutes 17:9A-28.2 Purchase for trust accounts of bonds, notes, or other obligations
  a. Subject to the provisions of this act, a qualified bank, as defined in section 1 of P.L. 1948, c. 67 (C. 17:9A-1) shall have ...
• New Jersey Statutes 17:9A-29 Appointment by court or officer of qualified bank as fiduciary
  A. A court or officer with power to appoint a fiduciary, may appoint a qualified bank. B. When a qualified bank, named in a fiduciary ...
• New Jersey Statutes 17:9A-30 Security prerequisite to action as fiduciary
  A. When a qualified bank is named as a fiduciary in any will or other instrument, it shall not be required to give any security ...
• New Jersey Statutes 17:9A-31 Security fund
  A. A qualified bank may create a fund to be held as security for the performance of its obligations in fiduciary capacities for which security ...
• New Jersey Statutes 17:9A-32 Recourse to security fund
  Recourse may be had to the fund created pursuant to section thirty-one upon application to the Superior Court, upon such notice as it shall direct, ...
• New Jersey Statutes 17:9A-33 Transfer of investments heretofore deposited
  Upon petition by a qualified bank which has heretofore deposited investments with the Register of the Prerogative Court, as the said court was constituted prior ...
• New Jersey Statutes 17:9A-34 Proof of qualification and security
  A. As a prerequisite to its appointment as a fiduciary by any court or officer of this State, a qualified bank shall present to the ...
• New Jersey Statutes 17:9A-35 Trust funds
  Trust funds. A. All moneys, securities and other property held by a qualified bank in fiduciary capacities, pursuant to paragraphs (5), (6), (7), (8), (9) ...
• New Jersey Statutes 17:9A-36 Definitions
  Definitions. As used in this article, and except as the context otherwise requires, (1) "Common trust fund" means a fund established and maintained by a ...
• New Jersey Statutes 17:9A-37 Participation in common trust fund
  Participation in common trust fund. A. Subject to the limitations of this article, a bank may create and maintain one or more common trust funds, ...
• New Jersey Statutes 17:9A-37.1 Single common trust fund
  a. A bank may, without order or judgment of a court or officer, merge or combine two or more of its own or its affiliate ...
• New Jersey Statutes 17:9A-38 Effect of trust instruments
  38. Effect of trust instruments. A. Except as otherwise provided by subsection B of this section, where the trust instrument defines, ...
• New Jersey Statutes 17:9A-39 Cash balances
  A. (Deleted by amendment.) B. (Deleted by amendment.) C. Any common trust fund may consist in part of uninvested cash balances awaiting investment or held ...
• New Jersey Statutes 17:9A-40 Participations; valuation; general provisions
  A. If so provided in the plan pursuant to which a common trust fund is established and maintained, the bank may divide the common trust ...
• New Jersey Statutes 17:9A-41 Powers and obligations of banks
  Except as by this article otherwise provided, a bank in investing, reinvesting, exchanging, retaining, selling, valuing or otherwise acting with respect to the property of ...
• New Jersey Statutes 17:9A-42 Compensation
  No bank shall charge or be entitled to any fee, commission, or other compensation by reason of its establishing and maintaining one or more common ...
• New Jersey Statutes 17:9A-43 Powers of commissioner
  The commissioner shall have power, from time to time, to make, amend, supplement, and repeal such rules and regulations, not inconsistent with the provisions of ...
• New Jersey Statutes 17:9A-44 Taxability
  No tax shall be imposed upon or payable by a bank as trustee of a common trust fund, nor shall the assets of any common ...
• New Jersey Statutes 17:9A-45 Creditors' claims
  Whenever a claim is asserted against a fiduciary or beneficiary of a trust estate which has a participation in a common trust fund, which claim ...
• New Jersey Statutes 17:9A-46 Accounting
  Unless ordered by a court of competent jurisdiction, a bank maintaining a common trust fund shall not be required to render a court accounting with ...
• New Jersey Statutes 17:9A-47 Members of Federal Reserve System
  A bank which is a member of the Federal Reserve System shall maintain the reserve balances required by or pursuant to the Federal Reserve Act, ...
• New Jersey Statutes 17:9A-48 Nonmembers of Federal Reserve System
  A. A bank which is not a member of the Federal Reserve System shall, subject to the provision of subsection B of this section, at ...
• New Jersey Statutes 17:9A-49 Definitions
  For the purposes of this article. "Reserve depositary" includes (a) A Federal Reserve bank, (b) A member of a Federal Reserve bank organized in a ...
• New Jersey Statutes 17:9A-50 Ascertainment of net profits
  A. Every bank shall at the close of each period for which a dividend is declared, and in any event at least semi-annually, determine its ...
• New Jersey Statutes 17:9A-51 Transfers to surplus
  Whenever a bank's surplus at the close of any period for which it shall have determined its net profits pursuant to section 50 is not ...
• New Jersey Statutes 17:9A-52 Dividends on capital stock
  52. A. Dividends on the capital stock of a bank may be paid from time to time wholly in cash, or wholly in ...
• New Jersey Statutes 17:9A-53 Scope of article; definitions; interest
  A. In addition to such other loans which banks are authorized to make, a bank may make secured and unsecured installment loans upon the terms ...
• New Jersey Statutes 17:9A-53.2 Definitions
  As used in this act: a. "Banking institution" includes State-chartered banks, Federally-chartered banks, and mutual savings banks; b. "Educational loan" means a loan which is ...
• New Jersey Statutes 17:9A-53.3 Educational loans, authorization
  In addition to such other loans which banking institutions are authorized by law to make, such institutions may make educational loans upon the terms and ...
• New Jersey Statutes 17:9A-53.4 Interest
  Notwithstanding the provisions of R.S. 31:1-1 or any other law to the contrary, a banking institution may make educational loans and may charge and collect ...
• New Jersey Statutes 17:9A-53.5 Limitations on amount of educational loan
  No banking institution shall make an educational loan or an advance on an educational loan for the payment of which any person shall be liable ...
• New Jersey Statutes 17:9A-53.6 Limitation on duration of loan
  No banking institution shall make an educational loan, or an advance on an educational loan which is disbursed in more than one advance, which is ...
• New Jersey Statutes 17:9A-53.7 Security; prohibition; endorsers or guarantors
  No security shall be taken for an educational loan, but this prohibition shall not preclude a banking institution from requiring one or more endorsers or ...
• New Jersey Statutes 17:9A-53.8 Disbursement in more than one advance; principal amount of loan
  When pursuant to an agreement between a banking institution and a borrower, an educational loan will be disbursed in more than one advance, the principal ...
• New Jersey Statutes 17:9A-53.9 Repayment; terms and conditions
  Educational loans shall be repaid in such manner and shall be subject to such terms and conditions not inconsistent with this act as the parties ...
• New Jersey Statutes 17:9A-53.10 Credit life and health insurance; authorization to provide
  When a person liable for the payment of an educational loan consents in writing thereto, the banking institution may obtain or provide either or both ...
• New Jersey Statutes 17:9A-53.11 Loans or extension of credit not subject to act
  Nothing in this act shall be construed to apply to any loan or extension of credit which a banking institution may make pursuant to any ...
• New Jersey Statutes 17:9A-54 Limitations and conditions
  A. Every installment loan shall be evidenced by a note the face value of which shall be in an amount determined pursuant to paragraph (11) ...
• New Jersey Statutes 17:9A-55 Permissible provisions and actions
  A. A bank which makes an installment loan may (1) require one or more comakers or endorsers of the note evidencing the loan, or one ...
• New Jersey Statutes 17:9A-56 Rebates on prepayment
  A. When the unpaid balance owing upon a precomputed loan is repaid in full or the maturity of the unpaid balance of such loan is ...
• New Jersey Statutes 17:9A-57 Statement on instrument
  Every note evidencing an installment loan shall contain a statement that such loan was made pursuant to this article. If this article or any section ...
• New Jersey Statutes 17:9A-58 Exempt transactions
  Nothing in this article applies to (1) any loan or extension of credit which a bank may make pursuant to any other law of this ...
• New Jersey Statutes 17:9A-59 Penalty for violations
  If a bank knowingly violates any provision of this article in the making or collection of an installment loan, the bank shall forfeit the entire ...
• New Jersey Statutes 17:9A-59.1 Advance loans
  A. Subject to the provisions of this act, a bank may lend money to a borrower by advancing funds to or for the account of ...
• New Jersey Statutes 17:9A-59.2 Written contract; necessity; effective date; contents
  A. No advance loan shall be made except pursuant to a written contract, referred to in this act as an "advance loan contract," between the ...
• New Jersey Statutes 17:9A-59.3 Authorization as evidence of loan
  Each authorization made by an advance loan borrower, evidenced in any manner provided in a contract between the bank and such borrower, and honored by ...
• New Jersey Statutes 17:9A-59.4 Statement to borrower; contents
  A. For each billing cycle at the end of which there is an outstanding balance on any advance loan made pursuant to a particular advance ...
• New Jersey Statutes 17:9A-59.5 Periodic payments; amount; application
  A. The amount of the payment required to be made on advance loans made to a particular borrower in reduction thereof shall at least equal ...
• New Jersey Statutes 17:9A-59.6 Interest rate; insurance premiums; credit cards; annual fee
  A. Notwithstanding the provisions of R.S. 31:1-1 or any other law to the contrary, the rate or rates on advance loans shall be as agreed ...
• New Jersey Statutes 17:9A-59.7 Late charges
  A. If any payment on an advance loan remains unpaid for a period of more than 15 days after such payment falls due pursuant to ...
• New Jersey Statutes 17:9A-59.8 Service charges
  In addition to the other charges which are authorized to be made by this act, a bank may collect a service charge from each advance ...
• New Jersey Statutes 17:9A-59.10 Security
  A. A bank which makes an advance loan shall not, prior to default in such loan, take any kind of security therefor except an interest ...
• New Jersey Statutes 17:9A-59.11 Limitation upon liability to bank on advance loans
  No bank shall make any advance loan for the payment of which any person shall be liable in any capacity to the bank if the ...
• New Jersey Statutes 17:9A-59.12 Violation of limitations upon liability; penalty
  For a violation of section 11 of this act, the bank shall forfeit all interest on so much of the aggregate of all advance loans ...
• New Jersey Statutes 17:9A-59.13 Collection of excess interest rates or unlawful taking of security; penalty
  If a bank knowingly collects interest on advance loans at a rate in excess of that authorized by section 6 of this act, or if ...
• New Jersey Statutes 17:9A-59.14 Bank defined
  As used in this act, "bank" includes banking institutions as defined in section 1 of P.L.1948, c. 67 (C. 17:9A-1). L.1959, c. 91, p. 226, ...
• New Jersey Statutes 17:9A-59.15 Effective date
  This act shall take effect immediately, but shall not be operative for 60 days thereafter. L.1959, c. 91, p. 226, s. 15. ...
• New Jersey Statutes 17:9A-59.16 Guarantee of payment
  A bank which enters into a contract with a borrower to make advance loans pursuant to the act of which this act is amendatory and ...
• New Jersey Statutes 17:9A-59.17 Short title
  The act of which this act is amendatory and supplementary shall be known and may be cited as "The Advance Loan Law of 1968." L.1968, ...
• New Jersey Statutes 17:9A-59.25 Definitions
  As used in this act, unless the context requires otherwise, (a) "Concern" means any trade, business or professional entity conducted for profit, and includes, but ...
• New Jersey Statutes 17:9A-59.26 Authority to make small business loans; terms and conditions; reliance upon representations
  A bank may make small business loans upon the terms and conditions prescribed by this act. In making loans pursuant to this act, a bank ...
• New Jersey Statutes 17:9A-59.27 Interest rate
  (a) Notwithstanding the provisions of R.S. 31:1-1 or any other law to the contrary, a bank may contract for and receive interest on a small ...
• New Jersey Statutes 17:9A-59.28 Note; amount; installment payments; repayment in advance; refund
  (a) Every small business loan shall be evidenced by a note which shall be dated the day of the making of such loan, and the ...
• New Jersey Statutes 17:9A-59.29 Limitation on loans
  No bank shall make a small business loan in a sum in excess of $50,000.00, nor shall a bank make any such loan for the ...
• New Jersey Statutes 17:9A-59.30 Security for payment; costs and insurance
  A bank which makes a small business loan may (a) require one or more comakers or endorsers of the note evidencing the loan, or one ...
• New Jersey Statutes 17:9A-59.31 Collection fee schedule
  Upon institution of proceedings for the collection of a small business loan in default, a bank may charge a collection fee, in addition to court ...
• New Jersey Statutes 17:9A-59.32 Acceleration of maturity
  (a) The note evidencing a small business loan may provide that (1) Upon default in the payment of any installment on its due date, the ...
• New Jersey Statutes 17:9A-59.33 Unauthorized charges prohibited
  A bank which makes a small business loan shall not make any further finance, interest or other charge in connection with such loan, other than ...
• New Jersey Statutes 17:9A-59.34 Use of proceeds for repayment of other loan
  Nothing in this act shall prevent a bank from making a small business loan, the proceeds of which will be applied in whole or in ...
• New Jersey Statutes 17:9A-59.35 Credit on precomputed interest charges; prepayment or acceleration; formula; prepayment on non-precomputed small business loan without penalty
  (a) When the unpaid balance owing on a precomputed small business loan is repaid in full, or when the maturity of the unpaid balance of ...
• New Jersey Statutes 17:9A-59.36 Statement that loan was made pursuant to small business loan act required
  Every note evidencing a small business loan shall contain a statement that such loan was made pursuant to this act. If this act or any ...
• New Jersey Statutes 17:9A-59.37 Violation; penalty; civil action
  If a bank knowingly violates any provision of this act in the making or collection of a small business loan, the bank shall forfeit the ...
• New Jersey Statutes 17:9A-59.38 Application of act
  Nothing in this act applies to any loan or extension of credit which a bank may make pursuant to any other law of this State ...
• New Jersey Statutes 17:9A-59.39 Short title
  This act shall be known and may be cited as the "Small Business Loan Act." L.1964, c. 162, s. 15. ...
• New Jersey Statutes 17:9A-59.40 Loan to depositor in amount of and guaranteed by deposit
  Notwithstanding any other provision of law, a banking institution may contract with a depositor for the loan of money in an amount not to exceed ...
• New Jersey Statutes 17:9A-60 Definitions
  60. Definitions. For the purposes of this article, (1) "Person" means an individual, partnership, corporation, association or body politic, ...
• New Jersey Statutes 17:9A-61 Unlimited liability
  This article shall not apply to: (1) loans to or investments in obligations of the United States, this State or any county of this State, ...
• New Jersey Statutes 17:9A-62 Limitations on liability
  62. Limitations on Liability. A. The total loans and extensions of credit by a bank or savings bank outstanding to one borrower at ...
• New Jersey Statutes 17:9A-63 Exempt transactions
  63. Exempt transactions. A. A bank or savings bank shall not be in violation of this article if the loans and extensions of ...
• New Jersey Statutes 17:9A-63.1 Excess charge
  Notwithstanding any other law of this State, a banking institution which makes a charge or imposes a fee in excess of that permitted by P.L. ...
• New Jersey Statutes 17:9A-64.1 Origination, acquisition of mortgage loans by bank, savings bank
  23. A bank or savings bank may originate or acquire mortgage loans secured by a mortgage constituting a lien upon real property or ...
• New Jersey Statutes 17:9A-70.1 Definitions
  As used in this act: "Banking institution" means a banking institution as defined in section 1 of P.L.1948, c.67 (C.17:9A-1); "Credit insurance" means credit life ...
• New Jersey Statutes 17:9A-70.2 Credit insurance on borrower
  When a banking institution makes a loan pursuant to P.L.1948, c.67 (C.17:9A-1 et seq.), P.L.1985, c.81 (C.17:3B-4 et seq.), or any other law or regulation ...
• New Jersey Statutes 17:9A-71 Definitions
  Definitions. A. For the purposes of this article: (1) "Controlling interest" means ownership or control of a majority of the issued and outstanding capital stock ...
• New Jersey Statutes 17:9A-71.1 Compliance of bank, savings bank with liability of directors, officers
  24. Any bank or savings bank that is in compliance with Regulation O of the Board of Governors of the Federal Reserve System, ...
• New Jersey Statutes 17:9A-72 Prerequisites to incurring liability; amounts
  Prerequisites to incurring liability; amounts. A. No bank shall permit a director or an executive officer of the bank or a corporation or partnership to ...
• New Jersey Statutes 17:9A-73 Overdrafts
  No bank shall permit a director, executive or other officer or employee of the bank or a corporation, or a partnership, to become liable to ...
• New Jersey Statutes 17:9A-74 Exempt transactions
  74. Exempt transactions. A. Any liability incurred prior to the effective date of this act, which would, if incurred after the effective date of this ...
• New Jersey Statutes 17:9A-75 Violations; penalties; liability
  A. The following shall be guilty of misdemeanors: (1) A director, or an executive officer of a bank who knowingly incurs liability to the bank ...
• New Jersey Statutes 17:9A-76 By-laws; adoption
  The stockholders of a bank shall have the power to make, alter and repeal by-laws. If so provided in the certificate of incorporation, the power ...
• New Jersey Statutes 17:9A-77 By-laws; limitations on powers of directors
  A board of directors which shall be empowered to make, alter and repeal by-laws may not, however, exercise such power with respect to by-laws (1) ...
• New Jersey Statutes 17:9A-78 By-laws; amendments; repeal; notice
  By-laws shall not be made, altered or repealed by the stockholders except at an annual or special meeting of the stockholders by the affirmative vote ...
• New Jersey Statutes 17:9A-79 Annual meetings; notice
  79. Annual meetings; notice. A. The annual meeting of the stockholders of every bank shall be held on such day in January, February, March or ...
• New Jersey Statutes 17:9A-79.1 Written consents
  Any action required or permitted to be taken at a meeting of stockholders by P.L. 1948, c. 67 (C. 17:9A-1 et seq.), or the certificate ...
• New Jersey Statutes 17:9A-80 Special meetings; call
  Special meetings of the stockholders of a bank may be called at any time by the president, the board of directors, the holders of not ...
• New Jersey Statutes 17:9A-81 Stockholders' meetings; notice
  Stockholders' meetings; notice. Notice of all meetings of stockholders shall be given to the stockholders not less than 10 nor more than 60 days prior ...
• New Jersey Statutes 17:9A-82 Special meetings; failure to issue call; action by commissioner
  If the secretary or cashier neglects or refuses to issue a call for a special meeting as provided in section 80, the person or persons ...
• New Jersey Statutes 17:9A-83 Place and hour of meetings; adjournments
  Any meeting of stockholders may be held at the principal office of the bank, or at any branch office, or at any place other than ...
• New Jersey Statutes 17:9A-84 List of stockholders
  A. The officer having charge of the stock transfer books for shares of stock of a bank shall make, or cause to be made, and ...
• New Jersey Statutes 17:9A-85 Voting of treasury stock
  Shares of its own capital stock belonging to a bank shall not be voted directly or indirectly. Any shares disqualified from voting solely because of ...
• New Jersey Statutes 17:9A-86 Voting of stock subject to pledge
  A stockholder who shall pledge his stock may nevertheless represent and vote such stock in person or by proxy at all stockholders' meetings, unless such ...
• New Jersey Statutes 17:9A-87 Voting of stock held by a corporation
  If shares of the capital stock of a bank are registered in the name of a corporation, such corporation may vote such shares by a ...
• New Jersey Statutes 17:9A-88 Voting of stock held by joint tenants or tenants in common
  Shares of the capital stock of a bank held jointly or as tenants in common by two or more persons may be represented and voted ...
• New Jersey Statutes 17:9A-89 Voting stock held by fiduciaries
  A. Shares of the capital stock of a bank held in a fiduciary capacity may be voted in person or by proxy by the fiduciary ...
• New Jersey Statutes 17:9A-90 Voting in person or by proxy
  A. Stockholders of a bank may vote at all meetings either in person or by proxy. Every proxy shall be executed in writing by the ...
• New Jersey Statutes 17:9A-90.1 Voting trusts
  Agreements hereafter made between two or more of the stockholders of a bank pursuant to which stock of the bank held by them is transferred ...
• New Jersey Statutes 17:9A-91 Quorum
  At all meetings of stockholders of a bank, the presence in person or by proxy of the holders of a majority of the outstanding shares ...
• New Jersey Statutes 17:9A-92 Judges of election
  A. In advance of each meeting of the stockholders of a bank, the board of directors shall appoint one judge or three judges who may ...
• New Jersey Statutes 17:9A-93 Presiding officer and secretary of meeting
  Unless the by-laws otherwise provide, the president shall preside at, and the secretary or cashier shall take the minutes at all meetings of the stockholders. ...
• New Jersey Statutes 17:9A-94 Capital stock; voting rights
  A. Except as a bank's certificate of incorporation may otherwise lawfully provide with respect to preferred stock, each share of stock shall entitle the registered ...
• New Jersey Statutes 17:9A-95 Summary review of elections by Superior Court
  Upon application of any stockholder who questions an election of directors of a bank, the Superior Court, if such application be made in an action ...
• New Jersey Statutes 17:9A-96 Record date
  Record date. A. The board of directors may fix a date, which shall precede by not more than 60 days: (1) the date of any ...
• New Jersey Statutes 17:9A-97 Inspection of books and records
  A. Every bank shall keep books and records of account and minutes of the proceedings of its stockholders, board of directors, and executive committee if ...
• New Jersey Statutes 17:9A-98 Stock certificates; transfers of stock; facsimile signatures
  A. Every bank shall issue to each of its stockholders a certificate or certificates signed by, or in the name of the bank by, the ...
• New Jersey Statutes 17:9A-99 Preemptive rights of stockholders to purchase new stock
  A. Except as otherwise provided by law, upon an increase of the capital stock of a bank by an issue of additional shares, every stockholder ...
• New Jersey Statutes 17:9A-100 Liability of stockholders
  Except as otherwise provided by any law heretofore enacted or by the certificate of incorporation of a bank heretofore organized, the holders of the shares ...
• New Jersey Statutes 17:9A-101 Directors; number; method of determination
  A. Every bank shall be managed by a board of not less than five and not more than twenty-five directors. B. If the certificate of ...
• New Jersey Statutes 17:9A-102 Directors; classification; election; vacancies; tenure.
  102. Directors; classification; election; vacancies; tenure. A. A bank may provide in its certificate of incorporation for the classification ...
• New Jersey Statutes 17:9A-103 Directors; stock ownership, oath
  103. A. Each director shall own in good faith and hold in the director's own name unpledged shares of the capital stock of ...
• New Jersey Statutes 17:9A-104 Directors; disqualification
  A director who ceases to be the owner of shares as specified in section 103, or who, within thirty days after his election or appointment, ...
• New Jersey Statutes 17:9A-105 Directors; quorum; actions
  Directors; quorum; actions. a. A majority of the members of the board of directors shall constitute a quorum for the transaction of business. Except as ...
• New Jersey Statutes 17:9A-106 Directors; compensation
  Directors shall receive such reasonable compensation as the board of directors may from time to time by resolution provide. L.1948, c. 67, p. 269, s. ...
• New Jersey Statutes 17:9A-107 Chairman of board of directors
  A bank may, in its by-laws or by resolution of its board of directors, create the office of chairman of the board of directors and ...
• New Jersey Statutes 17:9A-108 Directors; executive committee
  A. If the number of directors of a bank equals or exceeds nine, the certificate of incorporation or by-laws of the bank may provide for ...
• New Jersey Statutes 17:9A-109 Directors; qualified bank; trust committee
  A. If the number of directors of a bank which is a qualified bank equals or exceeds nine, the certificate of incorporation or by-laws of ...
• New Jersey Statutes 17:9A-110 Directors; other committees
  110. Directors; other committees. The bylaws of a bank may provide for other committees of the board of directors in addition to the ...
• New Jersey Statutes 17:9A-111 Officers; election; appointment; limitation
  111. Officers; election; appointment; limitation. A. At the first meeting of the board of directors following each annual meeting of ...
• New Jersey Statutes 17:9A-112 Officers; tenure; removal
  Subject to removal by the board of directors at its pleasure, or by the commissioner pursuant to section 249, each officer shall hold office from ...
• New Jersey Statutes 17:9A-113 Officers; vacancies
  Any vacancy in any office may be filled by the board of directors. L.1948, c. 67, p. 273, s. 113. ...
• New Jersey Statutes 17:9A-115 Bonding of directors, officers, employees; temporary waiver
  a. Every bank shall, at its own expense, cause to be bonded for the honest performance and discharge of his duties (1) each director who ...
• New Jersey Statutes 17:9A-116 Nature of amendments
  A bank may, by amending its certificate of incorporation in the manner provided by this article, (1) change its corporate name; (2) increase its capital ...
• New Jersey Statutes 17:9A-117 Procedure for amending certificate of incorporation
  117. Whenever the board of directors shall deem it advisable to amend the certificate of incorporation, it shall adopt a resolution setting forth ...
• New Jersey Statutes 17:9A-117.1 Restated certificates
  a. A bank may restate and integrate in a single certificate the provisions of its certificate of incorporation, as defined in section 1 of P.L. ...
• New Jersey Statutes 17:9A-118 Consolidation of amendments
  A. The board of directors may, from time to time, submit to the stockholders, and the stockholders may approve an amended certificate of incorporation, which ...
• New Jersey Statutes 17:9A-119 Increase in capital stock
  When the amendment effects an increase in the capital stock, and the amendment has been approved by the commissioner, the certificate of amendment shall not ...
• New Jersey Statutes 17:9A-120 Assumption of fiduciary powers
  When the amendment is for the purpose of authorizing a bank, not a qualified bank, to become a qualified bank, the commissioner, in determining whether ...
• New Jersey Statutes 17:9A-121 Decrease of capital stock
  The commissioner shall not approve an amendment effecting a decrease in the capital stock if the decrease will cause the capital stock to be less ...
• New Jersey Statutes 17:9A-122 Limitations
  An amendment, to the extent that it alters an existing provision of the certificate of incorporation or adds a provision not theretofore included in the ...
• New Jersey Statutes 17:9A-123 Certificate as evidence
  The certificate of amendment and the amended certificate or a copy thereof duly certified by the commissioner, shall be evidence in all courts and places. ...
• New Jersey Statutes 17:9A-124 Issuance
  A bank may issue preferred stock (1) Upon its organization as a successor bank pursuant to section 16; or (2) Upon its reorganization pursuant to ...
• New Jersey Statutes 17:9A-125 Certificates of incorporation and of amendment and merger agreements; provisions
  A. The certificate of incorporation of every bank hereafter authorized to issue preferred stock upon its organization pursuant to section 16, and the certificate of ...
• New Jersey Statutes 17:9A-126 Priorities; preferences; rights; limitations
  Every issue of preferred stock shall be subject to the following: (1) The issue price for each share shall be not less than the par ...
• New Jersey Statutes 17:9A-127 Dividends
  No dividend shall be declared or paid on common stock until all accrued dividends shall have been paid on preferred stock, or until funds shall ...
• New Jersey Statutes 17:9A-128 Priority on dissolution
  Upon a bank's dissolution in any manner, the holders of preferred stock shall be entitled to receive in full the amount specified in the certificate ...
• New Jersey Statutes 17:9A-129 Consideration for preferred stock
  Except to the extent otherwise expressly provided in this act, no bank shall issue its preferred stock for any consideration other than money. L.1948, c. ...
• New Jersey Statutes 17:9A-130 Retirement or conversion
  Upon the retirement or conversion of preferred stock, a certificate thereof, in such form as the commissioner shall approve, shall be made by any two ...
• New Jersey Statutes 17:9A-131 Application of article; limitation
  Preferred stock issued prior to the effective date of this act shall be subject to this article, except insofar as the provisions of this article ...
• New Jersey Statutes 17:9A-131.1 Borrowing money to retire preferred stock
  A bank, as defined in section 1 of the act to which this act is a supplement, may, with the approval of the Commissioner of ...
• New Jersey Statutes 17:9A-131.2 Debentures or capital notes
  A. Debentures or capital notes issued pursuant to this act (a) shall be unsecured; and (b) shall provide that the indebtedness evidenced thereby shall be ...
• New Jersey Statutes 17:9A-131.3 Borrowing to be pursuant to act only
  No bank shall borrow money for the purpose of retiring preferred stock except pursuant to this act. L.1953, c. 215, p. 1622, s. 3. ...
• New Jersey Statutes 17:9A-131.20 Definitions.
  1. As used herein, (a) "capital notes" means notes, debentures and other like writings having maturities of more than one year, issued ...
• New Jersey Statutes 17:9A-131.21 Issuance of convertible or nonconvertible capital notes by banks
  A bank may, from time to time, issue convertible or nonconvertible capital notes, or both, in series or otherwise. L.1966, c. 272, s. 2. ...
• New Jersey Statutes 17:9A-131.22 Capital notes issued for cash; limitation on conversion of convertible capital notes
  Capital notes may be issued only for cash. Convertible capital notes issued by a bank may be converted only into common stock of the issuing ...
• New Jersey Statutes 17:9A-131.23 Unsecured indebtedness; claims subordinate to depositors and creditors; liquidation
  The indebtedness evidenced by capital notes shall be unsecured and shall be subordinate to the claims of depositors and other creditors of the bank, regardless ...
• New Jersey Statutes 17:9A-131.24 Nonconvertible capital notes; issuance pursuant to resolution
  Nonconvertible capital notes may be issued pursuant to a resolution of a bank's board of directors without action by the bank's stockholders. L.1966, c. 272, ...
• New Jersey Statutes 17:9A-131.25 Convertible capital notes; issuance pursuant to amendment of certificate of incorporation of issuing bank
  Convertible capital notes may not be issued except pursuant to an amendment of the issuing bank's certificate of incorporation made as provided in article 19 ...
• New Jersey Statutes 17:9A-131.26 Sale of convertible capital notes
  No bank shall issue its convertible capital notes to others than the holders of its common stock until after it has offered such notes to ...
• New Jersey Statutes 17:9A-131.27 Certificate stating amount of capital notes converted; filing
  Within 90 days after any capital notes are converted, a certificate made by 2 officers of the bank which issued such capital notes, one of ...
• New Jersey Statutes 17:9A-131.28 Approval of issuance of capital notes by commissioner
  No capital notes shall be issued unless they and any agreement to which they are subject are approved by the commissioner. Such capital notes and ...
• New Jersey Statutes 17:9A-131.29 Inclusion of amount owing on capital notes in bank's capital funds
  The principal amount owing on all capital notes of a bank at any time outstanding, whether issued by the bank pursuant to this act, or ...
• New Jersey Statutes 17:9A-131.30 Issuance of capital notes, debentures.
  11. No bank shall hereafter issue capital notes or debentures except pursuant to P.L.1966, c.272 (C.17:9A-131.20 et seq.), provided, however, that P.L.1966, ...
• New Jersey Statutes 17:9A-131.31 Application of act
  This act shall not apply to any borrowing by a bank, however evidenced, which is payable in 1 year or less from the date of ...
• New Jersey Statutes 17:9A-131.32 Review
  A determination made by the commissioner pursuant to this act shall be subject to review, hearing and relief in the Superior Court in a proceeding ...
• New Jersey Statutes 17:9A-131.33 Repeal in part
  P.L.1953, chapter 215, is hereby repealed, insofar as it provides for the original issuance of capital notes or debentures after the effective date of this ...
• New Jersey Statutes 17:9A-132 Definitions
  As used in this article: (1) "Merging bank" means a bank which is merged, or which is in process of being merged, into another bank; ...
• New Jersey Statutes 17:9A-133 What banks may merge; means of effectuation of merger
  A. Any two or more banks may, with the approval of the commissioner, merge one or more of them into another of them as provided ...
• New Jersey Statutes 17:9A-133.1 Interstate merger transactions
  16. a. One or more banks or savings banks may, with the approval of the commissioner, enter into an interstate merger transaction with ...
• New Jersey Statutes 17:9A-134 Merger agreement; authorization; contents
  A. The boards of directors of the several banks proposing to merge shall authorize the execution of a merger agreement which shall contain; (1) The ...
• New Jersey Statutes 17:9A-135 Capital requirements
  A. When all the parties to a merger were organized prior to the effective date of this act, the capital stock of the receiving bank ...
• New Jersey Statutes 17:9A-136 Approval of agreement by commissioner; review
  A. The merger agreement, executed by all the parties thereto, shall be submitted to the commissioner who shall, within sixty days from the date of ...
• New Jersey Statutes 17:9A-137 Submission of agreement to stockholders; filing
  A. If the commissioner approves the merger agreement, it shall, within 180 days after the date of such approval, be submitted to the stockholders of ...
• New Jersey Statutes 17:9A-139 Corporate existence; offices; rights and obligations
  Upon the merger of 2 or more banks, (1) the corporate existence of each merging bank shall be merged into that of the receiving bank, ...
• New Jersey Statutes 17:9A-140 Rights of dissenting stockholders; settlement by agreement
  A. A stockholder who (1) is entitled to vote at the meeting of stockholders prescribed by section 137; and who (2) serves a written notice ...
• New Jersey Statutes 17:9A-141 Appointment of appraisers
  If a stockholder fails to accept the sum offered for his shares pursuant to section one hundred forty, he may, within three weeks after the ...
• New Jersey Statutes 17:9A-142 Duties of appraisers; report; objections; compensation; vacancies
  A. The appraisers shall be sworn to the faithful discharge of their duties. They shall meet at such place or places, and shall give such ...
• New Jersey Statutes 17:9A-143 Assignment of stock to bank
  Upon payment by the bank of the value of shares of stock pursuant to this article, the holder thereof shall assign such shares to the ...
• New Jersey Statutes 17:9A-144 Effect of stockholder's failure to act
  A stockholder who fails to act pursuant to sections 140 or 141 shall be forever barred from bringing any action to enforce his right to ...
• New Jersey Statutes 17:9A-145 Obligation of bank to pay stockholder
  An offer by the bank and an acceptance thereof by the stockholder pursuant to section 140 and the determination of value upon proceedings brought pursuant ...
• New Jersey Statutes 17:9A-146 Action to enjoin merger
  A. A stockholder may, not later than five days prior to the date of the meeting called pursuant to section one hundred thirty-seven institute an ...
• New Jersey Statutes 17:9A-147 Issuance of new stock certificates
  A. The receiving bank shall require each stockholder of each merging bank to surrender his certificates of capital stock of each such bank, and shall, ...
• New Jersey Statutes 17:9A-148 "Applicable federal law" defined; merger, consolidation of banks, national banking associations
  148. A. As used in subsection B. of this section, "applicable federal law" means the laws of the United States, as presently enacted ...
• New Jersey Statutes 17:9A-149 Prerequisites to conversion; definition of "applicable Federal law"
  A. As used in this article, "applicable Federal law" means the laws of the United States, as presently enacted and as hereafter from time to ...
• New Jersey Statutes 17:9A-150 Procedure
  The submission to the commissioner of the certificate of incorporation, the plan of conversion, and the affidavit pursuant to section 149, shall constitute an application ...
• New Jersey Statutes 17:9A-151 Capital stock and surplus
  The capital stock and surplus of a bank incorporated pursuant to this article shall be at least equal to the minimum capital stock and surplus ...
• New Jersey Statutes 17:9A-152 Effect of conversion
  Upon compliance with the requirements of this article, (1) the bank shall be authorized to transact business pursuant to this act; (2) the property and ...
• New Jersey Statutes 17:9A-153 Rights of dissenting stockholders
  A stockholder of a national banking association which converts into a bank pursuant to this article may make a demand for and receive payment of ...
• New Jersey Statutes 17:9A-154 Issuance of stock
  Stockholders of a national banking association who do not demand payment for their shares of stock as specified in section 153, shall become stockholders of ...
• New Jersey Statutes 17:9A-154.1 Conversion without approval of state officials; certificate required
  A bank, as defined in section 1 of "An act concerning banking and banking institutions (Revision of 1948)," approved April twenty-ninth, one thousand nine hundred ...
• New Jersey Statutes 17:9A-155 Procedure
  A. A bank may be dissolved in the manner provided by sections 14A:12-3 or 14A:12-4 of Title 14A, Corporations, General, of the New Jersey Statutes, ...
• New Jersey Statutes 17:9A-156 Effect
  Upon its dissolution pursuant to section 155 or upon the filing of an order of the commissioner pursuant to section 17, the bank, its officers, ...
• New Jersey Statutes 17:9A-157 Application of article
  A bank may reorganize in the manner provided by this article if (1) it is insolvent, or has suspended its business for lack of funds ...
• New Jersey Statutes 17:9A-158 Who may propose plan; approval or disapproval by commissioner
  A. The commissioner, a bank acting by its board of directors, or three or more depositors or other creditors of the bank who have claims, ...
• New Jersey Statutes 17:9A-159 Action for approval of plan
  A. The commissioner, or the bank, if either is the proponent of a plan of reorganization, or other proponents of a plan which has been ...
• New Jersey Statutes 17:9A-160 Jurisdiction of Superior Court
  The Superior Court shall have jurisdiction of actions pursuant to this article and to make such orders and judgments as may be necessary to (1) ...
• New Jersey Statutes 17:9A-161 Provisions of plan of reorganization
  A. Every plan of reorganization shall state: (1) the names of the persons who will be the directors of the bank; (2) the names of ...
• New Jersey Statutes 17:9A-162 Approval of plan by the court
  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 ...
• New Jersey Statutes 17:9A-163 Transmittal of plan and court approval to creditors and stockholders
  Upon approval of the plan by the court, as provided by section 162, the commissioner or receiver who is in possession of the property and ...
• New Jersey Statutes 17:9A-164 Acceptance or rejection of plan
  A. Following the approval of a plan by the court and its transmittal to depositors, other creditors and stockholders pursuant to sections 162 and 163, ...
• New Jersey Statutes 17:9A-165 Provision for classes of creditors or stockholders not bound by plan
  A. The court, upon such notice and hearing as it shall determine, shall, subject to confirmation of the plan, provide for any class of creditors ...
• New Jersey Statutes 17:9A-166 Confirmation of plan
  If the court, upon such notice and hearing as it shall prescribe shall be satisfied that depositors, other creditors and stockholders holding two-thirds in amount ...
• New Jersey Statutes 17:9A-167 Allowances for services, costs and expenses
  The Superior Court may allow reasonable compensation for services rendered and reimbursement for proper costs and expenses incurred by the commissioner, the bank, and depositors, ...
• New Jersey Statutes 17:9A-168 Consummation of plan
  A. If no appeal from the judgment confirming the plan is pending at the expiration of the time limited for taking appeals, a copy of ...
• New Jersey Statutes 17:9A-169 Amendment of certificate of incorporation
  A. Whenever a plan of reorganization confirmed by the court and filed in the department contains one or more provisions which may be effected under ...
• New Jersey Statutes 17:9A-170 Modification of plan
  A. A plan of reorganization may be modified, with the approval of the Superior Court, at any time prior to the issuance of the certificate ...
• New Jersey Statutes 17:9A-171 Effect of reorganization upon claims and property
  Upon the issuance of the certificate of authority pursuant to subsection C of section 168, (1) the plan shall be binding upon the bank and ...
• New Jersey Statutes 17:9A-173 Limitation on actions
  No reorganization effected pursuant to the provisions of this article shall be questioned in any action in any court unless such action is instituted within ...
• New Jersey Statutes 17:9A-174 Application of article
  A. The provisions of this article shall apply to the investment of the funds of all savings banks. All investments of money and all sales ...
• New Jersey Statutes 17:9A-175 Federal, State, county and municipal securities
  A. A savings bank may invest in (1) stocks, bonds, and notes or obligations of or guaranteed by the United States, or those for which ...
• New Jersey Statutes 17:9A-175.1 Obligations of Canadian government, provinces or cities
  A. A savings bank may invest in (1) bonds, debentures, notes or other obligations issued, guaranteed or assumed as to both principal and interest by ...
• New Jersey Statutes 17:9A-175.2 Definitions
  As used in this act, the following words and terms shall be deemed to have the following meanings: (a) The word "unit" shall mean any ...
• New Jersey Statutes 17:9A-175.3 Revenue bonds of governmental unit payable from revenues of utility operated by unit
  A savings bank may, in addition to other investments, presently or from time to time hereafter authorized by law (including specifically revenue bonds so authorized, ...
• New Jersey Statutes 17:9A-175.4 Restriction on investment by savings banks
  No savings bank shall make an investment pursuant to this act at any time (a) when the total of all of such investments exceeds, or ...
• New Jersey Statutes 17:9A-175.5 Construction of act
  Nothing in this act shall be construed to enlarge the classes of investments permitted for fiduciaries, or any other type of investor whose investments are ...
• New Jersey Statutes 17:9A-177 Railroad bonds
  A. For the purposes of this section, (1) "railroad company" shall include predecessor and constituent corporations, and shall mean a railroad company which is not ...
• New Jersey Statutes 17:9A-178 Public utility bonds and debentures
  A. As used in this section, (1) "bonds of a public utility company" and "debentures or other bonds of a public utility company" shall mean ...
• New Jersey Statutes 17:9A-179 Equipment obligations
  Subject to the limitations prescribed by section 179.1 a savings bank may invest in equipment obligations or certificates secured by (a) a railroad equipment or ...
• New Jersey Statutes 17:9A-179.1 Limitations on investments in railroad obligations
  A. No savings bank shall make an investment pursuant to section 177 or section 179 at any time when the total of all its investments ...
• New Jersey Statutes 17:9A-180 Industrial obligations
  A. A savings bank may invest in bonds, debentures, notes, or other obligations which mature within thirty years from the time of the investment, and ...
• New Jersey Statutes 17:9A-180.1 Corporate interest bearing securities not otherwise eligible
  A savings bank may, in addition to other investments presently or from time to time hereafter authorized by law, invest in corporate interest-bearing securities not ...
• New Jersey Statutes 17:9A-180.2 Limitations on investments in such corporate interest bearing securities
  No savings bank shall make an investment pursuant to this act at any time when the total of all such investments in obligations of such ...
• New Jersey Statutes 17:9A-180.3 Additional limitation on investments in such corporate interest bearing securities
  No savings bank shall make an investment pursuant to this act at any time when the total of all such investments exceeds, or if the ...
• New Jersey Statutes 17:9A-180.3a Transfer of securities to other classes becoming eligible for investment; determination of limitations
  Whenever a savings bank shall have made an investment pursuant to the act to which this is a supplement and any such security shall thereafter ...
• New Jersey Statutes 17:9A-180.4 Classes of investments for fiduciaries or others not enlarged
  Nothing in this act shall be construed to enlarge the classes of investments permitted for fiduciaries or any other type of investor whose investments are ...
• New Jersey Statutes 17:9A-180.5 Investment in corporate stock
  A savings bank may, in addition to other investments, presently or from time to time hereafter authorized by law, invest in (1) stocks, preferred or ...
• New Jersey Statutes 17:9A-180.6 Limitation on investment in corporate stock; exemptions
  No savings bank shall make an investment in the stock of any corporation pursuant to this act, except in investment under section 1(2), hereof, which ...
• New Jersey Statutes 17:9A-180.7 Investment in stocks limited to certain percentage of surplus
  No savings bank shall make an investment pursuant to this act at any time when the total of all such investments exceeds, or if the ...
• New Jersey Statutes 17:9A-180.8 Regulations regarding investments in stocks
  The Commissioner of Banking and Insurance may issue such regulations as he finds necessary and proper to carry out the provisions of this act. L.1953, ...
• New Jersey Statutes 17:9A-180.9 "Surplus" defined
  As used in sections 2 and 3 hereof, surplus of a savings bank shall mean the total of its surplus, undivided profits and unallocated reserves, ...
• New Jersey Statutes 17:9A-180.10 Legal investments for fiduciaries and others not enlarged
  Nothing in this act shall be construed to enlarge the classes of investments permitted for fiduciaries or any other type of investor whose investments are ...
• New Jersey Statutes 17:9A-180.11 Investments in debentures of New York trust companies
  A savings bank may, in addition to other investments presently or from time to time hereafter authorized by law, subscribe for, purchase, hold and surrender ...
• New Jersey Statutes 17:9A-182 Loans on collateral security
  A. In addition to loans elsewhere in this act authorized, a savings bank may make loans (1) to a depositor, in a sum or sums ...
• New Jersey Statutes 17:9A-182.1 Regulations authorizing certain loans and investments; powers of commissioner
  The Commissioner of Banking and Insurance shall have power to make, amend and repeal regulations authorizing savings banks to make specified kinds of loans or ...
• New Jersey Statutes 17:9A-182.2 Objective of regulations
  In exercising the power conferred upon him by this act, the commissioner shall consider the statutes, regulations and rulings governing the lending and investing powers ...
• New Jersey Statutes 17:9A-182.3 Investment in specified investment securities not otherwise authorized; regulations
  The Commissioner of Banking shall have power to make, amend and repeal regulations authorizing savings banks to invest in specified investment securities not authorized by ...
• New Jersey Statutes 17:9A-183 Legality of investments; retention of investments
  A. The board of managers, in determining whether any investment is lawful, may rely upon statistical, financial, corporate or other information as to such investment, ...
• New Jersey Statutes 17:9A-184 Deposits; maximum and minimum amounts
  A. Subject to paragraph C. of this section, a savings bank may receive on deposit any sum of money which may be offered for that ...
• New Jersey Statutes 17:9A-185 Payment to depositors; regulations
  Subject to the provisions of article 35, the deposits made in a savings bank, together with any dividend or interest credited thereto, shall be repaid ...
• New Jersey Statutes 17:9A-186 Interest and dividends
  A. Except as may otherwise be hereinafter provided or provided by law now or hereafter enacted or by rules and regulations promulgated pursuant to law ...
• New Jersey Statutes 17:9A-187 Reserve balances
  A. Every savings bank shall maintain reserve balances on deposits and on such other liabilities of the savings bank in amounts as prescribed by the ...
• New Jersey Statutes 17:9A-188 Board of managers; number; qualifications; oath
  188. Board of managers; number; qualifications; oath. A. (1) Except as otherwise provided by subsection L of this section, every savings ...
• New Jersey Statutes 17:9A-189 Board of managers; change in number
  A. Subject to the provisions of subsection L of section one hundred eighty-eight, the board of managers may, from time to time, increase or decrease ...
• New Jersey Statutes 17:9A-190 By-laws; chairman of the board; committees
  A. The board of managers of every savings bank shall have power to make, amend and repeal by-laws not inconsistent with this act, providing for ...
• New Jersey Statutes 17:9A-191 Officers; tenure
  191. The board of managers may elect from its own number or otherwise, such officers as it may from time to time see ...
• New Jersey Statutes 17:9A-192 Officers and managers; removal
  A. A manager of a savings bank may be removed at any time by vote of two-thirds of the entire membership of the board at ...
• New Jersey Statutes 17:9A-193 Officers and managers; compensation
  A savings bank may pay its managers for attendance at meetings of the board, or for service upon committees, or for other service rendered, such ...
• New Jersey Statutes 17:9A-194 Officers and managers; bonding
  Every savings bank shall cause its managers, officers and employees to be bonded in the manner required by section 115. For the purposes of this ...
• New Jersey Statutes 17:9A-195 Officers and managers; permitted loans
  Officers and managers; permitted loans. The Commissioner of Banking may promulgate rules and regulations for the purpose of establishing the terms and conditions of loans ...
• New Jersey Statutes 17:9A-196 Retirement benefits for officers and employees
  A savings bank may pay retirement and other benefits to its officers and employees in the manner provided by the Banks' and Savings Banks' Officers' ...
• New Jersey Statutes 17:9A-197 Amendments to certificate of incorporation; objects
  A savings bank may, by amending its certificate of incorporation in the manner provided by this article (1) change its corporate name; or (2) assume ...
• New Jersey Statutes 17:9A-197.1 Savings bank official immunity
  Notwithstanding the provisions of section 197 of P.L. 1948, c. 67 (C. 17:9A-197), a savings bank may, by amending its certificate of incorporation in the ...
• New Jersey Statutes 17:9A-198 Amendment procedure
  198. A. Whenever the board of managers of any savings bank shall deem it advisable to amend the certificate of incorporation, it shall, ...
• New Jersey Statutes 17:9A-199 What savings banks may merge
  Any two or more savings banks, may, with the approval of the commissioner, merge one or more of them into another of them, as provided ...
• New Jersey Statutes 17:9A-200 Merger agreement; authorization
  The boards of managers of the several savings banks proposing to merge shall, by a vote of two-thirds of the members of each board then ...
• New Jersey Statutes 17:9A-201 Adjustment of interests of depositors
  The merger agreement, for the purpose of equalizing or adjusting the interests of the respective depositors of the merging savings banks in the respective surpluses ...
• New Jersey Statutes 17:9A-202 Surplus requirements
  The surplus of the savings bank after the merger shall at least equal the sum of the following: (1) the minimum capital deposits required of ...
• New Jersey Statutes 17:9A-203 Approval of agreement by commissioner; review
  The merger agreement, executed by all the parties thereto, shall be submitted to the commissioner, and thereafter all proceedings thereon shall be as prescribed by ...
• New Jersey Statutes 17:9A-204 Publication of notice of merger agreement; filing
  A. If the commissioner approves the merger agreement, it shall be open to the inspection of depositors and other parties in interest at the offices ...
• New Jersey Statutes 17:9A-205 Corporate existence; offices; rights and obligations
  A. Upon the merger of two or more savings banks (1) the corporate existence of each merging savings bank shall be merged into that of ...
• New Jersey Statutes 17:9A-206 Certified copy of agreement; use as evidence; recording
  A. A copy of the merger agreement, certified by the commissioner, shall be evidence in all courts and places. B. A copy of the merger ...
• New Jersey Statutes 17:9A-207 Dissolution; procedure
  A. If the managers of a savings bank deem it advisable and in the public interest that the savings bank be dissolved, they shall, by ...
• New Jersey Statutes 17:9A-208 Surplus; determination by savings bank
  A. For the purpose of determining the surplus of a savings bank from time to time, the board of managers shall value the assets of ...
• New Jersey Statutes 17:9A-209 Use of capital stock or surplus
  A. No bank shall use any part of its capital stock or surplus paid in pursuant to its certificate of incorporation until it receives a ...
• 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 ...
• New Jersey Statutes 17:9A-211 Liability secured by own stock
  No bank shall permit the incurring of any liability to it on the security of shares of its own capital stock; but a bank may ...
• New Jersey Statutes 17:9A-212 Acquisition of own stock
  Acquisition of own stock. a. Except as otherwise provided in this section, no bank or capital stock savings bank shall purchase or otherwise acquire shares ...
• New Jersey Statutes 17:9A-213 Limitations on exercise of powers.
  213. Limitations on exercise of powers. (a) Except as otherwise provided by law, only a banking institution shall exercise within this ...
• New Jersey Statutes 17:9A-213.1 Limitation on powers of banks, savings banks.
  213.1. Except as in this act or otherwise by law provided, and except for letters of credit issued pursuant to N.J.S.12A:5-101 et seq., ...
• New Jersey Statutes 17:9A-213.2 Violations of law, regulation by qualified corporation; penalty
  If the Commissioner of Banking finds that a qualified corporation is conducting its business in violation of any law or regulation of this State or ...
• New Jersey Statutes 17:9A-214 Violations; penalty
  A violation of this article shall be a misdemeanor and the Superior Court shall have jurisdiction to enjoin such violation at the suit of the ...
• New Jersey Statutes 17:9A-215 Minors' deposit accounts
  Deposits may be made with a banking institution by or in the name of a minor. A minor may endorse and deposit to the credit ...
• New Jersey Statutes 17:9A-219 Cofiduciaries' deposit accounts
  Instruments for the payment of money may be indorsed and deposited to the credit of an account of cofiduciaries with a banking institution, and withdrawals ...
• New Jersey Statutes 17:9A-221 Authority of depositor's agent to indorse and deposit instruments after death or incompetency of the depositor
  The death or incompetency of a depositor who has in writing appointed an agent to indorse instruments for the payment of money and to deposit ...
• New Jersey Statutes 17:9A-222 Deposits of interstate bodies
  A banking institution accepting deposits from the Port of New York Authority, or the Palisades Interstate Park Commissioners, or the Delaware River Joint Commission may ...
• New Jersey Statutes 17:9A-223 Adverse claim to deposits
  Notice to any banking institution of an adverse claim to a deposit to the credit of any person shall not be effectual to cause the ...
• New Jersey Statutes 17:9A-224 Postponement of deposit payments by commissioner
  A. The commissioner may, whenever in his judgment the circumstances so warrant, direct any bank or savings bank: (1) to postpone for any length of ...
• New Jersey Statutes 17:9A-229.6 Notice of death of resident depositor; fee or service charge
  No bank or trust company after having received notice of the death of a resident depositor shall impose or collect a fee or service charge ...
• New Jersey Statutes 17:9A-247 Banking records
  247. Banking records. a. Any banking institution may cause to have copied or reproduced by any photostatic, photographic, miniature photographic or any other process which ...
• New Jersey Statutes 17:9A-248 Fiduciary and agency records
  Any qualified bank, acting in any fiduciary or agency capacity, may cause to have copied or reproduced by any photostatic, photographic, or miniature photographic process ...
• New Jersey Statutes 17:9A-250 Action against directors, managers, officers or employees; indemnification
  Action against directors, managers, officers or employees; indemnification. A. As used in this section (1) "Corporate agent" means any person who is or was a ...
• New Jersey Statutes 17:9A-251 Perpetual existence for banks and savings banks heretofore or hereafter organized
  Every bank and savings bank heretofore or hereafter organized, regardless of the term of its existence specified in its certificate of incorporation, shall have perpetual ...
• New Jersey Statutes 17:9A-252 Definitions
  For the purposes of this article, (1) "bank" shall mean a bank or savings bank; (2) "board of directors" shall include the board of directors ...
• New Jersey Statutes 17:9A-253 Examinations of a bank by a public accountant or other qualified person
  A. The board of directors of every bank shall cause examinations of the affairs of the bank to be made from time to time by ...
• New Jersey Statutes 17:9A-254 Report on examination; statement by directors; filing
  A. Within sixty days after the completion of an examination made pursuant to section 253, a report thereof, in such form as the commissioner may ...
• New Jersey Statutes 17:9A-258 Report of assets, liability; availability
  258. A summary of the report of assets and liabilities as of the end of the most recent fiscal year, required to be ...
• New Jersey Statutes 17:9A-260 Examination of banks by commissioner
  260. A. The commissioner shall, whenever and as often as the commissioner shall deem it advisable, cause the affairs of every bank, and ...
• New Jersey Statutes 17:9A-261 Enforcement of subpoena
  If any person shall refuse to obey a subpoena or a subpoena duces tecum issued pursuant to section 260, the Superior Court may, ...
• New Jersey Statutes 17:9A-262 False testimony; perjury
  A person who shall willfully testify falsely to a material and relevant matter, upon oath administered by the commissioner, a deputy commissioner, or ...
• New Jersey Statutes 17:9A-263 Immunity of person testifying
  Any person who has violated any provision of this act shall be a competent witness and compellable to testify in an examination as ...
• New Jersey Statutes 17:9A-264 Examinations confidential; subpoenas
  Every report and copy of a report of examination of a bank or out-of-State bank made by or under the supervision of the ...
• New Jersey Statutes 17:9A-265 Valuations of assets by commissioner
  A. For the purposes of determining whether a bank is insolvent or is in an unsafe or unsound condition to transact business, ...
• New Jersey Statutes 17:9A-266 Definitions
  For the purposes of this article: (1) "Bank" shall mean a bank or savings bank; (2) "Board ...
• New Jersey Statutes 17:9A-267 Commissioner's powers on ultra vires, unlawful and unsafe practices; review
  A. If the commissioner finds that a bank, or an out-of-State bank with a branch in this State, is violating the provisions ...
• New Jersey Statutes 17:9A-268 Penalty for failure to comply with commissioner's order
  268. A bank, or out-of-State bank with a branch in this State, which continues to violate the provisions of its certificate of incorporation ...
• New Jersey Statutes 17:9A-269 Possession by the commissioner; causes; purposes; return
  A. The commissioner may forthwith take possession of the property and business of any bank (1) Which has failed ...
• New Jersey Statutes 17:9A-271 Effect of possession by commissioner on liens; possession as a stay
  A. All levies, judgments, attachments and other liens, upon property obtained through legal proceedings against a bank when it is insolvent and ...
• New Jersey Statutes 17:9A-272 Powers of commissioner
  A. While in possession of the business and property of a bank, the commissioner may, in the name of the bank ...
• New Jersey Statutes 17:9A-273 Jurisdiction of Superior Court
  The Superior Court shall have jurisdiction, on application by the commissioner for instructions in respect to the administration of the bank's affairs, to ...
• New Jersey Statutes 17:9A-274 Proceeds of liquidation; deposits; preference
  The proceeds of the liquidation by the commissioner of the assets of a bank shall be held by him, less the costs and ...
• New Jersey Statutes 17:9A-275 Employees and assistants of commissioner; counsel
  The commissioner may, from time to time, appoint one or more special assistant deputy commissioners of banking and insurance, who may or may ...
• New Jersey Statutes 17:9A-276 Compensation of employees, assistants, and counsel
  The compensation of the special assistant deputy commissioners, counsel, and of all other persons engaged in the administration of the business and affairs ...
• New Jersey Statutes 17:9A-277 Accounting by commissioner; notice to creditors
  On making the first application to the Superior Court for approval of expenses of administration, pursuant to this article, the commissioner shall file ...
• New Jersey Statutes 17:9A-279 Judgment on accounting
  In any proceeding the court shall have jurisdiction to hear and determine in a summary manner or otherwise all matters arising therein, and ...
• New Jersey Statutes 17:9A-280 Notice to creditors to present claims; publication; claims barred
  The commissioner shall, after taking possession of the business and property of a bank, cause notice to be given to all persons, other ...
• New Jersey Statutes 17:9A-281 Verification of deposit balances
  The commissioner shall verify all balances due depositors by causing a notice to be mailed to each depositor at his address as it ...
• New Jersey Statutes 17:9A-282 Rejection of claims by commissioner; actions
  If the commissioner doubts the justice or validity of any claim made pursuant to sections 280 or 281, he shall reject it or ...
• New Jersey Statutes 17:9A-283 Objections to allowance of claims by commissioner
  The Superior Court shall have jurisdiction, on notice to the commissioner, to hear and to determine, in a summary manner or otherwise, objections ...
• New Jersey Statutes 17:9A-284 Distribution
  A. The proceeds of the liquidation of the assets of a bank, the property and business of which the commissioner has taken possession, ...
• New Jersey Statutes 17:9A-285 Corporate dissolution
  Upon the filing of the certificate in the department pursuant to subsection C of section 284, the bank shall be dissolved, and its ...
• New Jersey Statutes 17:9A-286 Unclaimed funds; publication; disposition
  A. Within nine months from the date of the order authorizing a final liquidating dividend, the commissioner shall cause a notice to be ...
• New Jersey Statutes 17:9A-287 Unclaimed funds held under prior law
  Unclaimed funds held by the commissioner, pursuant to any prior law of this State, in trust for the several persons entitled thereto in ...
• New Jersey Statutes 17:9A-288 Unclaimed funds; costs
  The costs of proceedings taken pursuant to sections 286 and 287 shall be charged ratably by the Clerk of the Superior Court against ...
• New Jersey Statutes 17:9A-289 Unclaimed funds; escheat
  Sections 286 and 287 shall not relieve the commissioner of any duty or responsibility imposed upon him by Chapter 199, Laws of 1945, ...
• New Jersey Statutes 17:9A-290 Demand by commissioner for removal of property and contents of safe deposit boxes
  The commissioner may, after he has taken possession of the property and business of a bank, cause to be mailed to each person ...
• New Jersey Statutes 17:9A-291 Inventory and storage of property not removed
  A. If property shall not be removed as provided in section 290, the commissioner shall cause such property to be inventoried, and, to ...
• New Jersey Statutes 17:9A-292 Delivery of property to claimants
  At any time prior to the sale, destruction or other disposition of the contents of a package pursuant to sections 293, 294 and ...
• New Jersey Statutes 17:9A-293 Sale of unclaimed property
  If, after the expiration of one year from the time of mailing the notice pursuant to section 290, there shall remain any unclaimed ...
• New Jersey Statutes 17:9A-294 Notice of auction
  At least sixty days notice of a public auction to be held pursuant to section 293 shall be given by registered mail to ...
• New Jersey Statutes 17:9A-295 Disposition of unsold property
  If any property offered for sale at public auction pursuant to section 293 shall not be sold, the commissioner may, without notice, apply ...
• New Jersey Statutes 17:9A-296 Liability of third person
  No bank or other depositary to which any property is delivered by the commissioner for safe-keeping pursuant to this article, and no purchaser ...
• New Jersey Statutes 17:9A-297 Other remedies
  The provisions of sections 290 to 296 shall not affect or preclude any other remedy for the enforcement of the claims or rights ...
• New Jersey Statutes 17:9A-298 Application of article to property held under prior law
  If the commissioner shall heretofore have taken possession of the business and property of any bank pursuant to the provisions of law then ...
• New Jersey Statutes 17:9A-299 Determination whether commissioner or agent shall wind up affairs
  When the commissioner has paid in full the claims of all persons, other than stockholders, entitled to share in the distribution of the ...
• New Jersey Statutes 17:9A-300 Election of agents; powers; vacancies
  A. If, at a meeting of stockholders held pursuant to section 299, the holders of a majority of the stock shall vote, in ...
• New Jersey Statutes 17:9A-301 Continuance of liquidation by commissioner
  If, at a stockholder's meeting held pursuant to section 299, the stockholders vote to have liquidation continued by the commissioner, the commissioner shall ...
• New Jersey Statutes 17:9A-302 Liability of commissioner
  The commissioner shall not be subject to any civil liability or penalty nor to any criminal prosecution for any error in judgment or ...
• New Jersey Statutes 17:9A-303 Refusal or failure of commissioner to take possession; jurisdiction of the Superior Court; appointment of receiver
  A. When a bank is insolvent or has suspended its business for lack of funds to carry it on, a creditor or stockholder ...
• New Jersey Statutes 17:9A-304 Acceptance of loans from federal government
  While in possession of the business and property of a bank pursuant to the provisions of this article, the commissioner, or a receiver ...
• New Jersey Statutes 17:9A-305 Continuance of banking advisory board
  The banking advisory board heretofore created and established in the department is continued, subject to the provisions of this act. L.1948,c.67,s.305. ...
• New Jersey Statutes 17:9A-306 Members; qualifications
  The board shall consist, as heretofore, of the commissioner, who shall be ex officio the chairman of the board, and nine other members ...
• New Jersey Statutes 17:9A-307 Term of office; removal; vacancies
  A. The members of the banking advisory board appointed prior to the effective date of this act shall continue in office for the ...
• New Jersey Statutes 17:9A-308 Expenses of members
  The members of the banking advisory board shall serve without compensation, but shall be reimbursed for their actual and necessary expenses in attending ...
• New Jersey Statutes 17:9A-309 Meetings; quorum
  A. The board shall meet at least bimonthly at such times and places in the State as it may determine. The commissioner may ...
• New Jersey Statutes 17:9A-310 Secretary; appointment, qualifications and duties
  The board shall elect a secretary who may be an employee of the department, but who shall receive no extra compensation for serving ...
• New Jersey Statutes 17:9A-311 Powers of the banking advisory board
  A. In addition to the powers elsewhere in this act conferred upon it, the banking advisory board shall have power, by two-thirds vote ...
• New Jersey Statutes 17:9A-312 Access to departmental records; information confidential
  For the purpose of discharging its duties, the board shall have access to all records in the department, including reports and confidential communications, ...
• New Jersey Statutes 17:9A-313 Liability of members
  No member of the board, including the commissioner, shall be personally liable for any act done or omitted in connection with the performance ...
• New Jersey Statutes 17:9A-314 Report to Governor
  The board shall submit to the Governor annually, on or before December 1, a report of the activities of the board during the ...
• New Jersey Statutes 17:9A-316 Limitations on transaction of business by foreign banks in this State
  316. A. Except as otherwise provided pursuant to section 1 of P.L.1989, c.245 (C.17:9A-19.2) and sections 37 through 86 of P.L.1996, c.17 (C.17:9A-418 ...
• New Jersey Statutes 17:9A-316.1 Merger or consolidation, foreign bank acting as fiduciary as successor to party to
  Nothing in section three hundred sixteen of chapter sixty-seven of the laws of one thousand nine hundred and forty-eight (The Banking Act of 1948) shall ...
• New Jersey Statutes 17:9A-316.2 Validation of fiduciary acts by foreign banks resulting from merger or consolidation
  Any fiduciary act, including but not by way of limitation, any conveyance of real property situated in this State, heretofore done by any foreign bank ...
• New Jersey Statutes 17:9A-316.3 Investment in common trust funds by foreign bank under certain circumstances
  1. A foreign bank authorized by section 316 of P.L.1948, c.67 (C.17:9A-316) to act as trustee, fiduciary, executor, testamentary trustee or guardian ...
• New Jersey Statutes 17:9A-317 Qualification of foreign bank as fiduciary
  317. As a prerequisite to its qualification in any fiduciary capacity specified in section 316, in any court of this State, a foreign ...
• New Jersey Statutes 17:9A-318 Application for certificate of authority
  318. A foreign bank desiring to secure a certificate of authority to transact business in this State shall make application to the commissioner ...
• New Jersey Statutes 17:9A-319 Issuance, denial of certificate of authority
  319. A. Within 60 days following the receipt of the application of a foreign bank for a certificate of authority to transact business ...
• New Jersey Statutes 17:9A-322 Certificate of authority to continue in force
  322. A certificate of authority issued to a foreign bank shall continue in force, unless revoked by the commissioner or surrendered by the ...
• New Jersey Statutes 17:9A-325 Additional statements by and examinations of foreign banks
  A. So long as a foreign bank shall be obligated in any manner with respect to any estate or trust administered under the laws of ...
• New Jersey Statutes 17:9A-326 Certificate of authority; revocation
  326. The commissioner shall revoke the certificate of authority or renewal thereof of a foreign bank if: (1) the foreign bank ...
• New Jersey Statutes 17:9A-327 Procedure on revocation
  Before any certificate of authority or renewal of a certificate of authority of a foreign bank shall be revoked by the commissioner, he shall afford ...
• New Jersey Statutes 17:9A-328 Review of commissioner's refusal to issue a certificate or his revocation of a certificate
  A. If the commissioner shall fail for sixty days to act upon an application for a certificate of authority, or shall fail for thirty days ...
• New Jersey Statutes 17:9A-329 Surrender of certificate of authority
  A certificate of authority or a certificate of renewal of a certificate of authority of a foreign bank may be surrendered by filing in the ...
• New Jersey Statutes 17:9A-330 Violations; disabilities; penalties
  A. A foreign bank shall not be entitled to maintain any action in any court of this State on any cause arising out of its ...
• New Jersey Statutes 17:9A-331 Exempt transactions
  Nothing in this article shall prohibit a foreign bank from (1) contracting in this State with a banking institution for the acquisition by such foreign ...
• New Jersey Statutes 17:9A-332 Sale of real property by foreign banks in the possession of an administrative or court officer
  When the property and business of a foreign bank not authorized to transact business in this State is in the possession of a banking commissioner, ...
• New Jersey Statutes 17:9A-333 Department of Banking fees
  333. A bank or savings bank shall pay to the commissioner for the use of the State a fee, to be prescribed by the commissioner ...
• New Jersey Statutes 17:9A-334 Fees payable by foreign banks.
  334. A foreign bank shall pay to the commissioner for the use of the State a fee, to be prescribed by the commissioner ...
• New Jersey Statutes 17:9A-335 Costs of examination of a bank, savings bank or foreign bank
  Every bank, savings bank and foreign bank shall pay to the commissioner for the use of the State the reasonable costs of each examination of ...
• New Jersey Statutes 17:9A-336 Repeal of prior law
  A. The following sections of the Revised Statutes are hereby repealed: (1) section 7:4-7; (2) sections 7:5-7 to 7:5-10, inclusive; (3) sections 7:6-1 to 7:6-17, ...
• New Jersey Statutes 17:9A-337 Reference to Revised Statutes and New Jersey Statutes
  When any section, chapter or title of the Revised Statutes or the New Jersey Statutes is cited or referred to in this act, such citation ...
• New Jersey Statutes 17:9A-338 Applicability of Title 14A of the New Jersey Statutes
  Except to the extent specifically made applicable by this act, the provisions of Title 14A of the New Jersey Statutes as enacted and as amended ...
• New Jersey Statutes 17:9A-339 Prior lawful acts not affected
  This act shall not invalidate, terminate, or otherwise affect any act or contract of a bank or savings bank or of the stockholders of a ...
• New Jersey Statutes 17:9A-340 Separability of provisions
  If any section or portion of a section of this act shall be invalid for any reason, such invalidity shall not affect the validity of ...
• New Jersey Statutes 17:9A-341 Headnotes not part of act
  In the construction of this act or any part thereof, no headnote to any article or section shall be deemed to be a part of ...
• New Jersey Statutes 17:9A-342 Short title
  This act may be cited as "The Banking Act of 1948" . L.1948, c. 67, p. 415, s. 342. ...
• New Jersey Statutes 17:9A-343 Effective date of act
  This act shall take effect on September 16, 1948. L.1948, c. 67, p. 415, s. 343. ...
• New Jersey Statutes 17:9A-355 Definitions
  As used in this act, (1) "Corporation" means a corporation organized under any law of this State heretofore, presently or hereafter in force, for a ...
• New Jersey Statutes 17:9A-356 Bank shares; acquisition by corporations
  2. (1) An acquiring corporation may acquire ownership of all the outstanding shares of the capital stock of one or more banks in ...
• New Jersey Statutes 17:9A-357 Plan of acquisition
  Plan of acquisition. (1) The boards of directors of the corporation which seeks to become an acquiring corporation and of each bank which seeks to ...
• New Jersey Statutes 17:9A-358 Approval of plan of acquisition by commissioner; review
  (1) The plan of acquisition, executed by all the parties thereto, shall be submitted to the commissioner who shall, within 60 days from the date ...
• New Jersey Statutes 17:9A-359 Submission of plan to stockholders; filing
  (1) If the commissioner approves the plan of acquisition, it shall, within 120 days after the date of such approval, be submitted to the stockholders ...
• New Jersey Statutes 17:9A-360 Notice of dissent; "dissenting stockholder" defined
  (1) Any stockholder of a participating bank electing to dissent from the plan of acquisition may do so by filing with the participating bank of ...
• New Jersey Statutes 17:9A-361 Valuation date of fair value
  For the purposes of this act, the fair value of the shares of a participating bank shall be determined as of the day before the ...
• New Jersey Statutes 17:9A-362 Termination of right of stockholder to be paid the fair value of his shares
  (1) The right of a dissenting stockholder to be paid the fair value of his shares shall cease if (a) He has failed to present ...
• New Jersey Statutes 17:9A-363 Rights of dissenting stockholder
  (1) A dissenting stockholder may not withdraw his demand for payment of the fair value of his shares without the written consent of the participating ...
• New Jersey Statutes 17:9A-364 Determination of fair value by agreement
  (1) Within 10 days after the expiration of the period within which stockholders may make written demand to be paid the fair value of their ...
• New Jersey Statutes 17:9A-365 Procedure on failure to agree upon fair value; commencement of action to determine fair value
  (1) If the fair value of the shares is not agreed upon within the 30-day period limited by subsection (2) of section 10, the dissenting ...
• New Jersey Statutes 17:9A-366 Action to determine fair value; jurisdiction of court; appointment of appraiser
  In any action to determine the fair value of shares pursuant to this act: (a) The Superior Court shall have jurisdiction and may proceed in ...
• New Jersey Statutes 17:9A-367 Judgment in action to determine fair value
  (1) A judgment for the payment of the fair value of shares shall be payable upon surrender to the participating bank of the certificate or ...
• New Jersey Statutes 17:9A-368 Costs and expenses of action
  The costs and expenses of bringing an action pursuant to section 11 shall be determined by the court and shall be apportioned and assessed as ...
• New Jersey Statutes 17:9A-369 Disposition of shares
  Upon payment for shares pursuant to subsection (2) of section 10, or upon payment of a judgment pursuant to subsection (1) of section 13, the ...
• New Jersey Statutes 17:9A-382 Definitions
  1. As used in sections 1 through 27 of P.L.1987, c.201 (C.17:9A-382 et seq.): a. "Beneficial owner": (1) Includes any person who, directly or indirectly ...
• New Jersey Statutes 17:9A-383 Prior approval
  2. No person shall, without the prior approval of the commissioner, acting directly or indirectly or through or in concert with one or more persons: ...
• New Jersey Statutes 17:9A-384 Application; hearing
  3. a. An application by a person for the approval of the commissioner to obtain control of a capital stock savings bank, to offer to ...
• New Jersey Statutes 17:9A-385 Factors for consideration
  In determining whether to approve an acquisition of shares or offer to acquire shares pursuant to section 2 of this act, the commissioner shall consider ...
• New Jersey Statutes 17:9A-386 Voter ineligibility; registration
  5. a. Any shares in excess of 25% of the outstanding voting shares of a capital stock savings bank which are acquired in violation of ...
• New Jersey Statutes 17:9A-387 Violations, penalties
  6. a. Whenever it appears to the commissioner that any person has engaged in or is about to engage in any act or practice which ...
• New Jersey Statutes 17:9A-388 Formation of mutual savings bank holding company
  The board of managers of an organizing mutual savings bank, by 2/3 vote of the board, may apply to the commissioner to form a mutual ...
• New Jersey Statutes 17:9A-389 Certificate of incorporation
  a. The board of managers of the organizing mutual savings bank shall execute a certificate of incorporation for the mutual savings bank holding company stating: ...
• New Jersey Statutes 17:9A-390 Approval of charter
  If the commissioner determines that the establishment of a mutual savings bank holding company is in the best interests of the depositors of the organizing ...
• New Jersey Statutes 17:9A-391 General powers
  a. The general powers of the mutual savings bank holding company shall be those powers conferred on corporations pursuant to the provisions of N.J.S. 14A:3-1, ...
• New Jersey Statutes 17:9A-392 Board of directors
  Every mutual savings bank holding company shall be managed by a board of not less than six nor more than 21 directors. Directors shall be ...
• New Jersey Statutes 17:9A-393 Bylaws; executive committee
  a. The board of directors of every mutual savings bank holding company shall have the power to make, amend and repeal bylaws not inconsistent with ...
• New Jersey Statutes 17:9A-394 Election of officers
  At the first meeting of the board of directors of the mutual savings bank holding company following each annual meeting, the board may elect a ...
• New Jersey Statutes 17:9A-395 Distribution of surplus
  The board of directors of the mutual savings bank holding company may, from time to time, by a majority vote of the directors, divide equitably ...
• New Jersey Statutes 17:9A-396 Retention of interests in assets
  Upon the formation of a mutual savings bank holding company pursuant to the provisions of this act, the depositors of the organizing mutual savings bank ...
• New Jersey Statutes 17:9A-397 Incorporation of subsidiary bank
  The directors of a mutual savings bank holding company which has been established pursuant to sections 7 through 15 of this act may apply to ...
• New Jersey Statutes 17:9A-398 Submission of certificate of incorporation
  a. The certificate of incorporation of every subsidiary capital stock savings bank established pursuant to this act shall be submitted to the commissioner within 60 ...
• New Jersey Statutes 17:9A-399 Approval of charter
  If the commissioner determines that the qualifications, experience and character of the proposed officers and directors of the subsidiary capital stock savings bank are sufficient ...
• New Jersey Statutes 17:9A-400 Bylaws of subsidiary
  a. The stockholders of a subsidiary capital stock savings bank shall have the power to make, alter, and repeal bylaws. The directors of the mutual ...
• New Jersey Statutes 17:9A-401 Meetings for actions on bylaws
  Bylaws shall not be made, altered, or repealed by the stockholders of a subsidiary capital stock savings bank, except at an annual or special meeting ...
• New Jersey Statutes 17:9A-402 Amendment of certificate of incorporation
  21. Whenever the board of directors of a subsidiary capital stock savings bank deems it advisable to amend the certificate of incorporation, it ...
• New Jersey Statutes 17:9A-403 Governance of operations
  The annual meetings, voting rights of stockholders, liability of stockholders and the maintenance of a subsidiary capital stock savings bank's books and records shall be ...
• New Jersey Statutes 17:9A-404 Declaration of dividends
  A subsidiary capital stock savings bank may declare dividends on its capital stock pursuant to the provisions of section 52 of P.L. 1948, c. 67 ...
• New Jersey Statutes 17:9A-405 Other powers, rights, privileges
  a. All other powers, rights, and privileges of a converted savings bank or a subsidiary capital stock savings bank not expressly provided for in this ...
• New Jersey Statutes 17:9A-406 Merger; consolidation
  a. A subsidiary capital stock savings bank may, pursuant to a plan of merger approved by the commissioner, merge with the organizing mutual savings bank ...
• New Jersey Statutes 17:9A-407 Conversion to capital stock savings bank
  As an alternative to the formation of a subsidiary capital stock savings bank pursuant to the provisions of sections 16 through 24 of this act, ...
• New Jersey Statutes 17:9A-408 Amended certificate of incorporation
  In the event that the board of managers elects to follow the procedures provided in subsection b. of section 7 of this act, the managers ...
• New Jersey Statutes 17:9A-409 Definitions relative to acquisitions
  28. As used in sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through C.17:9A-417): "Acquire" means: (1) ...
• New Jersey Statutes 17:9A-410 Acquisition of New Jersey bank, bank holding company
  29. Sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through C.17:9A-417) set forth the conditions under which a person may acquire a ...
• New Jersey Statutes 17:9A-411 Approval of commissioner required for acquisition of New Jersey bank holding company, bank
  30. a. Except as otherwise expressly permitted by federal law, no person may acquire a New Jersey bank holding company or a New ...
• New Jersey Statutes 17:9A-412 Procedure for acquisition
  31.a. A person that proposes to make an acquisition under sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through C.17:9A-417) shall: ...
• New Jersey Statutes 17:9A-413 Approval of application for proposed acquisition
  32. a. In deciding whether to approve an application for a proposed acquisition under sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through ...
• New Jersey Statutes 17:9A-414 Approval of acquisition
  33. a. The commissioner shall decide whether to approve an acquisition under sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through C.17:9A-417) within ...
• New Jersey Statutes 17:9A-415 Submission of report to commissioner; violations; penalty.
  34. a. To the extent specified by the commissioner by regulation, order or written request: (1) each bank holding company ...
• New Jersey Statutes 17:9A-416 Enforcement of C.17:9A-409 through C.17:9A-417
  35. The commissioner may enforce the provisions of sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through C.17:9A-417) by any appropriate action in ...
• New Jersey Statutes 17:9A-417 Powers of commissioner relative to C.17:9A-409 through C.17:9A-417
  36. In order to carry out the purposes of sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through C.17:9A-417) the commissioner may: ...
• New Jersey Statutes 17:9A-418 Law, definitions, standards applicable to foreign banks
  37. a. Sections 37 through 86 of P.L.1996, c.17 (C.17:9A-418 through C.17:9A-467) shall govern the establishment and operation in New Jersey of offices ...
• New Jersey Statutes 17:9A-419 Definitions relative to foreign banks
  38. As used in sections 37 through 86 of P.L.1996, c.17 (C.17:9A-418 through C.17:9A-467): "Agency" means any place of business of ...
• New Jersey Statutes 17:9A-420 Foreign bank offices; division into classes, ranking
  39. a. For purposes of sections 37 through 86 of P.L.1996, c.17 (C.17:9A-418 through C.17:9A-467), offices of foreign banks are divided into classes ...
• New Jersey Statutes 17:9A-421 Fees relative to foreign banks
  40.Fees shall be paid to, and collected by, the commissioner as follows: a. The fee for filing with the commissioner ...
• New Jersey Statutes 17:9A-422 Application procedure
  41. a. Each application filed with the commissioner under sections 37 through 86 of P.L.1996, c.17 (C.17:9A-418 through C.17:9A-467) or under any regulation ...
• New Jersey Statutes 17:9A-423 "Act" defined, commissioner's findings relative to application
  42. a. In this section, "act" includes, without limitation, omission. b. For purposes of making findings on an application by ...
• New Jersey Statutes 17:9A-424 Reports filed by foreign bank, commercial lending company
  43. a. Each foreign bank and commercial lending company which is licensed to establish an office shall file with the commissioner reports as ...
• New Jersey Statutes 17:9A-425 Books, accounts, records of foreign bank, commercial lending company
  44. Each foreign bank and commercial lending company which is licensed to establish an office shall make, keep, and preserve at an office ...
• New Jersey Statutes 17:9A-426 Prohibition on concurrent establishment of federal and State branch office
  45. a. No foreign bank which is licensed to establish an agency or branch office shall concurrently establish a federal agency or federal ...
• New Jersey Statutes 17:9A-427 Opening, maintenance of offices
  46. A foreign bank or commercial lending company may open one or more offices in this State. Each office shall be separately licensed ...
• New Jersey Statutes 17:9A-428 Requirement that commissioner be appointed as attorney to receive service of process; service
  47. a. (1) No foreign bank, other than a foreign bank which is licensed to establish an agency or branch office, shall be ...
• New Jersey Statutes 17:9A-429 License not transferable, assignable
  48. No license shall be transferable or assignable. L.1996,c.17,s.48. ...
• New Jersey Statutes 17:9A-430 Posting of license
  49. Each foreign bank and commercial lending company which is licensed to establish an office shall post its license in a conspicuous place ...
• New Jersey Statutes 17:9A-431 Popular name assigned to foreign bank, commercial lending company
  50. a. Each foreign bank and commercial lending company which is licensed to establish an office shall assign to that office a popular ...
• New Jersey Statutes 17:9A-432 Designation of primary office
  51. Whenever a foreign bank is licensed to establish two or more offices it shall designate one of those offices as its primary ...
• New Jersey Statutes 17:9A-433 Conduct of business in single building, adjoining buildings; exceptions
  52. Each foreign bank and commercial lending company which is licensed to establish an office shall conduct all of the business of that ...
• New Jersey Statutes 17:9A-434 Examination of licensed office.
  53. a. The department shall have the right to examine each office which the commissioner licenses under sections 37 through 86 of P.L.1996, ...
• New Jersey Statutes 17:9A-435 Compliance with applicable interest rate limitations
  54. A foreign bank or commercial lending company which makes a loan or extends credit from an office in this State, or books ...
• New Jersey Statutes 17:9A-436 License required for establishment of representative office
  55. a. No foreign bank shall establish a representative office in this State unless it is licensed to establish a representative office at ...
• New Jersey Statutes 17:9A-437 Approval for foreign bank to establish representative office
  56. a. (1) No foreign bank shall establish a representative office unless the commissioner shall have first approved the establishment of that office ...
• New Jersey Statutes 17:9A-438 Approval for relocation of representative office of foreign bank
  57. a. No foreign bank which is licensed to establish a representative office shall relocate its office unless the commissioner shall have first ...
• New Jersey Statutes 17:9A-439 Restrictions upon representative office
  58. A foreign bank which is licensed to establish a representative office may, subject to regulations the commissioner may prescribe, engage in representational ...
• New Jersey Statutes 17:9A-440 Approval for closing representative office of foreign bank
  59. a. (1) No foreign bank which is licensed to establish a representative office shall close its office unless the commissioner shall have ...
• New Jersey Statutes 17:9A-441 Existing office granted license
  60. Any office of a foreign bank existing in this State on the effective date of sections 37 through 86 of P.L.1996, c.17 ...
• New Jersey Statutes 17:9A-442 Transaction of business limited to licensed agency, branch office
  61. a. No foreign bank shall transact business in this State except at an agency or branch office which it is licensed to ...
• New Jersey Statutes 17:9A-443 Approval, license required for establishment of agency, branch office of foreign bank
  62. a. (1) No foreign bank shall establish an agency or branch office unless the commissioner shall have first approved the establishment of ...
• New Jersey Statutes 17:9A-444 Approval for relocation of agency, branch office of foreign bank
  63. a. No foreign bank which is licensed to establish an agency or branch office shall relocate that office unless the commissioner shall ...
• New Jersey Statutes 17:9A-445 Transaction of business by foreign bank at agency or branch office
  64. a. A foreign bank which is licensed to establish an agency or branch office may transact banking business at that office, subject ...
• New Jersey Statutes 17:9A-446 Report of condition, income
  65. a. Whenever the commissioner calls for a report of condition or income from commercial banks organized under the laws of this State, ...
• New Jersey Statutes 17:9A-447 Notice of noninsurance of deposits
  66. Each foreign bank which is licensed to establish an agency or branch office shall, in accordance with the regulations the commissioner may ...
• New Jersey Statutes 17:9A-448 Compliance with regulations by foreign bank
  67. a. If a foreign bank is licensed to establish a depository agency or branch office and such office is not subject to ...
• New Jersey Statutes 17:9A-449 Assets kept separate, apart; priority of creditors
  68. a. Each foreign bank which is licensed to transact business in this State shall keep the assets of that business separate and ...
• New Jersey Statutes 17:9A-450 Definitions of adjusted liabilities and eligible assets relative to foreign banks
  69. a. In this section: (1) "Adjusted liabilities," when used with respect to a foreign bank, means the liabilities of ...
• New Jersey Statutes 17:9A-451 Definitions of adjusted liabilities, eligible assets relative to agency or branch offices
  70. a. In this section: (1) "Adjusted liabilities," when used with respect to a foreign bank which is licensed to ...
• New Jersey Statutes 17:9A-452 Approval required for closing of office of foreign bank
  71. a. (1) No foreign bank which is licensed to establish an agency or branch office shall close its office unless the commissioner ...
• New Jersey Statutes 17:9A-453 Transaction of business by commercial lending company
  72. a. No commercial lending company shall transact business in this State except at an office it is licensed to establish and at ...
• New Jersey Statutes 17:9A-454 Approval for establishment of office of foreign bank, commercial lending company
  73. a. No foreign bank and no commercial lending company shall establish an office of a commercial lending company in this State unless ...
• New Jersey Statutes 17:9A-455 Relocation of commercial lending company
  74. a. No commercial lending company which is licensed to establish a commercial lending office shall relocate that office unless the commissioner shall ...
• New Jersey Statutes 17:9A-456 Commercial lending company, functions permitted
  75. A commercial lending company which is licensed to establish a commercial lending office may, subject to such regulations or orders as the ...
• New Jersey Statutes 17:9A-457 Approval for commercial lending company to close office
  76. a. (1) No commercial lending company which is licensed to establish a commercial lending office shall close its office unless the commissioner ...
• New Jersey Statutes 17:9A-458 Powers of commercial lending company limited
  77. The powers of a commercial lending company in this State shall be limited as provided in section 64 and elsewhere in sections ...
• New Jersey Statutes 17:9A-459 Granting of right to operate as commercial lending company
  78. The commissioner shall have the power to grant to any organization which is organized under the laws of this State, including but ...
• New Jersey Statutes 17:9A-460 Voluntary surrender of license
  79. a. Except as provided in subsection b. of this section, any foreign bank which holds a license to establish an office may ...
• New Jersey Statutes 17:9A-461 Violations, penalties
  80. If, after notice and a hearing, the commissioner finds that any person has violated any provision of sections 37 through 86 of ...
• New Jersey Statutes 17:9A-463 Issuance of order suspending, revoking license of bank, commercial lending company, hearing
  82. a. If the commissioner finds that any of the factors set forth in section 81 of P.L.1996, c.17 (C.17:9A-462) is true with ...
• New Jersey Statutes 17:9A-464 Surrender of suspended, revoked license
  83. Any foreign bank or commercial lending company whose license to establish an office is suspended or revoked shall immediately surrender its license ...
• New Jersey Statutes 17:9A-465 Application to modify, rescind order
  84. a. Any foreign bank or commercial lending company to which an order is issued under section 81 or 82 of P.L.1996, c.17 ...
• New Jersey Statutes 17:9A-466 Possession of property, business of bank by commissioner
  85 .a. If the commissioner finds that any of the factors set forth in section 81 of P.L.1996, c.17 (C.17:9A-462) or in subsection ...
• New Jersey Statutes 17:9A-467 Rules, regulations, orders
  86. The commissioner shall, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), issue the rules, regulations and orders the commissioner ...
• New Jersey Statutes 17:10B-1 Definitions
  1. As used in this act: "Advance fee" means any consideration which is assessed or collected by a loan broker, prior to the closing of ...
• New Jersey Statutes 17:10B-2 Prohibitions relative to loan brokers
  2. No loan broker shall: a. Assess, collect or hold an advance fee, directly or indirectly, from or on behalf of a borrower to provide ...
• New Jersey Statutes 17:10B-3 Investigations, examinations by commissioner
  3. a. The commissioner may make such investigations and examinations upon reasonable suspicion as he deems necessary to determine whether a person has violated or ...
• New Jersey Statutes 17:10B-4 Order to cease and desist, fine
  4. a. The commissioner may order a loan broker to cease and desist whenever the commissioner determines that the loan broker has violated, is violating, ...
• New Jersey Statutes 17:10B-5 Violations, penalties, injunctions, summary actions
  5. a. Any person who violates any provision of this act shall be liable to a civil penalty of not more than $7,500 for a ...
• New Jersey Statutes 17:10B-6 Action for recovery of damages
  6. a. Any borrower injured by a violation of this act may bring an action for recovery of damages. Judgment shall be entered for actual ...
• New Jersey Statutes 17:10B-7 Nonapplicability of act
  7. The provisions of this act shall not apply to State or federally chartered banks, savings banks, savings and loan associations or credit ...
• New Jersey Statutes 17:10B-8 Rules, regulations
  8. The commissioner may, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), adopt rules and regulations as he deems necessary in the ...
• New Jersey Statutes 17:10C-1 Licensed Lenders Advisory Board
  1. There is created in the Department of Banking a Licensed Lenders Advisory Board. The board shall consist of the Commissioner of Banking or his ...
• New Jersey Statutes 17:10C-2 Board duties
  2. The board shall act as a resource to the commissioner by developing and recommending to the commissioner ideas, programs and tools to assist: a. ...
• New Jersey Statutes 17:11C-1 Short title
  1. Sections 1 through 49 of this act shall be known and may be cited as the "New Jersey Licensed Lenders Act." ...
• New Jersey Statutes 17:11C-2 Definitions regarding licensed lenders.
  2. As used in this act: "Billing cycle" means the time interval between periodic billing dates. A billing cycle shall ...
• New Jersey Statutes 17:11C-3 License required for mortgage banker, broker, secondary mortgage, consumer loan business
  3. a. No person shall act as a mortgage banker or mortgage broker, engage in the secondary mortgage loan business or engage in ...
• New Jersey Statutes 17:11C-4 Nonapplicability of act
  4. The requirements of this act which apply to a mortgage banker, mortgage broker or mortgage solicitor shall not apply to : ...
• New Jersey Statutes 17:11C-5 Exemptions from licensing
  5. a. Depository institutions and insurance companies are exempt from licensing as secondary mortgage lenders; but subsidiaries and service corporations of these institutions ...
• New Jersey Statutes 17:11C-6 Exempt consumer loan business, certain
  6. A depository institution, trust company, insurance company, or pawnbroker operating under R.S.45:22-1 et seq., may conduct consumer loan business without obtaining a ...
• New Jersey Statutes 17:11C-7 Conditions for issuance of license.
  7. The commissioner shall issue a license under this act if the following conditions are met: a. A written ...
• New Jersey Statutes 17:11C-8 Application, fee.
  8. a. Every application for an initial license shall be accompanied by a nonrefundable application fee as set forth in subsection d. of ...
• New Jersey Statutes 17:11C-9 Maintenance of branch offices by licensee.
  9. a. A licensee may maintain a branch office or offices. The licensee shall license all branch offices in this State and all ...
• New Jersey Statutes 17:11C-10 Information on license; posting, disposition of license
  10. a. The license shall state the name of the licensee and the licensee's place of business or businesses, as applicable, and shall ...
• New Jersey Statutes 17:11C-11 Issuance, expiration of licenses.
  11. a. Each license issued pursuant to this act shall expire at the end of the license period of not less than two ...
• New Jersey Statutes 17:11C-12 Approval of transfer, sale
  12. Any sale or transfer of a controlling interest in a licensee's or applicant's business shall be approved by the commissioner prior to ...
• New Jersey Statutes 17:11C-13 Bond required for licensee
  13. A licensee, prior to doing business as a mortgage banker or broker or as a secondary lender, shall obtain a bond in ...
• New Jersey Statutes 17:11C-14 Tangible net worth requirements for mortgage bankers, brokers
  14. a. Each applicant for a license as a mortgage banker shall demonstrate that it has tangible net worth of $250,000, except that ...
• New Jersey Statutes 17:11C-15 Net worth requirements for secondary lenders
  15. a. Each applicant for a license as a secondary lender shall demonstrate that the applicant has liquid assets of at least $150,000 ...
• New Jersey Statutes 17:11C-16 Net worth requirements for consumer lenders
  16. a. Every applicant for a license as a consumer lender shall prove in a form satisfactory to the commissioner, that the applicant ...
• New Jersey Statutes 17:11C-17 Maintenance of place of business
  17. a. A licensee engaging in business as a mortgage banker or mortgage broker, a secondary lender or a consumer lender shall have ...
• New Jersey Statutes 17:11C-18 Refusal to issue, revocation, suspending, refusal to renew license; imposition of penalty
  18. a. The commissioner may refuse to issue and may revoke, suspend or refuse to renew a license or impose a penalty pursuant ...
• New Jersey Statutes 17:11C-19 Maintenance of books, accounts, records, documents
  19. a. Every licensee shall maintain, at the place of business in this State designated in the license, those books, accounts, records and ...
• New Jersey Statutes 17:11C-20 Prohibited practices
  20. a. No person or licensee shall advertise, print, display, publish, distribute, telecast or broadcast, or cause or permit to be advertised, printed, ...
• New Jersey Statutes 17:11C-21 Purchase of insurance by borrowers.
  21. a. A borrower shall not be required to purchase credit life or accident and health insurance or credit involuntary unemployment insurance in ...
• New Jersey Statutes 17:11C-22 Mortgage bankers, brokers; prohibited practices.
  22. a. No person shall use the word "mortgage" or similar words in any advertising, signs, letterheads, cards, or like matter which tend ...
• New Jersey Statutes 17:11C-23 Fees allowed to be charged by mortgage bankers.
  23. a. Notwithstanding the provisions of any other law, a person licensed as a mortgage banker or correspondent mortgage banker, incidental to the ...
• New Jersey Statutes 17:11C-24 Secondary lenders permitted to make closed-end loans
  24. a. Notwithstanding the provisions of R.S. 31:1-1 or any other law to the contrary, a person licensed as a secondary lender may ...
• New Jersey Statutes 17:11C-25 Secondary lenders permitted to make open-end loans
  25. Notwithstanding the provisions of R.S.31:1-1 or any other law to the contrary, and subject to all applicable provisions of this act, a ...
• New Jersey Statutes 17:11C-26 Requirements for instruments evidencing secondary mortgage loan
  26. An instrument evidencing a secondary mortgage loan shall: a. Be in the form of a promissory note for a closed-end ...
• New Jersey Statutes 17:11C-27 Prohibited provisions in writings executed in connection with secondary mortgage loan
  27. No writing of any kind executed in connection with a secondary mortgage loan shall contain: a. A power of attorney ...
• New Jersey Statutes 17:11C-28 Secondary lenders, charges, fees allowed.
  28. a. A secondary lender shall not contract for, charge, receive or collect directly or indirectly, any of the following in connection with ...
• New Jersey Statutes 17:11C-29 Collection of additional charges by secondary lender
  29. a. If a secondary lender charges or collects interest, costs or other charges on a secondary mortgage loan in excess of those ...
• New Jersey Statutes 17:11C-30 Obligations of secondary lender to borrower
  30. A secondary lender shall: a. Give to the borrower, without charge, a copy of every instrument, document or other writing ...
• New Jersey Statutes 17:11C-31 Secondary lenders, prohibited practices
  31. A secondary lender shall not: a. Transact any business subject to the provisions of this act under any other name ...
• New Jersey Statutes 17:11C-32 Consumer loans permitted by licensees, terms.
  32. a. Notwithstanding the provisions of R.S.31:1-1 or any other law to the contrary, every licensee authorized to engage in the consumer loan ...
• New Jersey Statutes 17:11C-33 Additional charges prohibited on consumer loan; violations
  33. a. In addition to the interest herein provided for on a consumer loan, no further or other charge, or amount whatsoever for ...
• New Jersey Statutes 17:11C-34 Requirements for consumer lender relative to closed-end loan
  34. Every consumer lender, incident to a closed-end consumer loan, shall: a. Deliver to the borrower at the time a loan ...
• New Jersey Statutes 17:11C-35 Limits on closed-end consumer loans
  35. a. No closed-end consumer loan in an amount of $1,000 or less shall be made for a greater period of time than ...
• New Jersey Statutes 17:11C-36 Open-end consumer loans; conditions, terms
  36. a. A licensee authorized to engage in the consumer loan business may make open-end consumer loans and may contract for and receive ...
• New Jersey Statutes 17:11C-37 Prohibited charges for large consumer loans.
  37. No licensee authorized to engage in the consumer loan business shall directly or indirectly charge, contract for, or receive any interest, ...
• New Jersey Statutes 17:11C-38 Certain payments deemed loan secured by assignment.
  38. The payment of $50,000 or less in money, credit, goods or things in action, as consideration for any sale, assignment or ...
• New Jersey Statutes 17:11C-39 Validity of chattel mortgage, security interest, conditions
  39. No chattel mortgage or security interest, as defined in N.J.S.12A:1-201, in, or other lien on, household furniture then in the possession and ...
• New Jersey Statutes 17:11C-40 Loans secured by property.
  40. The payment of $50,000 or less in money, credit, goods or things in action as consideration for any sale of personal ...
• New Jersey Statutes 17:11C-41 Consumer lenders, prohibited practices.
  41. a. No consumer lender shall make any loan upon security of any assignment of or order for the payment of any salary, ...
• New Jersey Statutes 17:11C-42 Investigations, examinations of licensees
  42. a. The commissioner may make such investigations and examinations of any licensee or other person as the commissioner deems necessary to determine ...
• New Jersey Statutes 17:11C-43 Annual report by licensees; violations, penalties.
  43. A licensee shall annually file a report with the commissioner which shall set forth such information as the commissioner shall require concerning ...
• New Jersey Statutes 17:11C-44 Agreements unenforceable, void
  44. Any agreement to waive any provision of this act shall be unenforceable and void. L.1996,c.157,s.44. ...
• New Jersey Statutes 17:11C-45 Applicability of act to mortgages
  45. The provisions of this act shall apply to any first mortgage loan or secondary mortgage loan: a. Advertised, caused to ...
• New Jersey Statutes 17:11C-46 Validity of mortgages
  46. The failure of any person to comply with the provisions of this act shall not affect the validity or enforceability of any ...
• New Jersey Statutes 17:11C-47 Injunctions by commissioner
  47. If the commissioner has reason to believe that any person or licensee has engaged, is engaged, or is about to engage in ...
• New Jersey Statutes 17:11C-48 Violations, penalties
  48. a. Any person or licensee who engages in any conduct or practice prohibited by this act may be liable to a penalty ...
• New Jersey Statutes 17:11C-49 Rules, regulations
  49. The commissioner may issue and promulgate rules and regulations, in accordance with the "Administrative Procedure Act," P.L.1968, c. 410 (C.52:14B-1 et seq.), ...
• New Jersey Statutes 17:11C-50 Continuation of licensees
  54. a. A person licensed as a mortgage banker or mortgage broker pursuant to the provisions of P.L.1981, c.18 (C.17:11B-1 et seq.), a ...
• New Jersey Statutes 17:11D-1 Definitions relative to tax preparation services.
  1. As used in this act: "Client" means an individual who engages the services of a tax preparer. ...
• New Jersey Statutes 17:11D-2 Actions prohibited to tax preparer.
  2. No tax preparer shall: a. Without reasonable cause, fail to promptly, diligently and without unreasonable delay complete a ...
• New Jersey Statutes 17:11D-3 Refund anticipation loans, compliance, disclosures required.
  3. a. Any tax preparer offering, facilitating, or making refund anticipation loans shall comply with the provisions of the "New Jersey Licensed Lenders ...
• New Jersey Statutes 17:11D-4 Itemized statement of service charges.
  4. A tax preparer shall provide an itemized statement of service charges to the client, including, but not limited to, charges for ...
• New Jersey Statutes 17:11D-5 Additional penalties.
  5. In addition to any sanctions provided by N.J.S.2C:21-19, R.S.31:1-1 et seq., or any other provision of law, a tax preparer who ...
• New Jersey Statutes 17:11D-6 Inapplicability of act.
  6. The provisions of this act shall not apply to: a. a tax preparer providing tax preparation services to ...
• New Jersey Statutes 17:11D-7 Rules, regulations.
  7. The commissioner shall promulgate rules and regulations in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) necessary to ...
• New Jersey Statutes 17:12B-1 Construction as revision of prior laws
  This act shall be construed as a revision of, and shall supersede, all provisions of the "Savings and Loan Act," approved April 4, 1946 (P.L.1946, ...
• New Jersey Statutes 17:12B-2 Citation
  This act shall be known and may be cited as the "Savings and Loan Act (1963)." L.1963, c. 144, s. 2. ...
• New Jersey Statutes 17:12B-3 Application of act
  No State association shall hereafter be incorporated for the purposes stated in this act, except pursuant to the provisions of this act. The provisions of ...
• New Jersey Statutes 17:12B-3.1 Contracts with association supervisors of other states
  101.The Commissioner is authorized to enter into contracts with association supervisors of other states for the purpose of establishing effective and efficient supervisory ...
• New Jersey Statutes 17:12B-4 Determination of members' rights and liabilities
  The rights and liabilities of each member of an association, shall be determined by and shall be subject to the provisions of this act and ...
• New Jersey Statutes 17:12B-5 Definitions
  5. The following words and phrases as used in this act, unless a different meaning is plainly required by the context, shall ...
• New Jersey Statutes 17:12B-6 Gross income
  "Gross income" shall mean the sum, for an accounting period, of the following: (a) Operating income. (b) Real estate income. (c) All profits actually received ...
• New Jersey Statutes 17:12B-7 Net income
  "Net income" shall mean gross income, for an accounting period, less the aggregate of the following: (a) Operating expenses. (b) Real estate expenses. (c) All ...
• New Jersey Statutes 17:12B-8 Principal office; branch office; auxiliary office; remote service unit
  (a) "Principal office" shall mean the legally established office of an association for the transaction of its business, other than a branch office, auxiliary office, ...
• New Jersey Statutes 17:12B-9 Agency
  "Agency" shall mean a place of business other than the principal office, a branch office, auxiliary office, or a remote service unit of an association, ...
• New Jersey Statutes 17:12B-10 Per capita assets
  "Per capita assets" shall mean the total savings and loan assets divided by the population. (a) Per capita assets for the State shall be the ...
• New Jersey Statutes 17:12B-11 Mortgage deemed first lien.
  11. A mortgage upon real property or a mortgage upon a lease of the fee of real property shall be deemed a first ...
• New Jersey Statutes 17:12B-12 Purposes
  The purposes of associations operating under the provisions of this act shall be promoting thrift, home ownership and housing or otherwise investing funds in accordance ...
• New Jersey Statutes 17:12B-13 Persons who may form corporation
  Any 9 or more persons, domiciled in this State, and citizens of the United States, hereinafter referred to as incorporators, may associate to form a ...
• New Jersey Statutes 17:12B-14 Contents of certificate of incorporation of a mutual association
  Contents of certificate of incorporation of a mutual association. The incorporators shall personally sign a certificate of incorporation, which shall state: (1) The name of ...
• New Jersey Statutes 17:12B-15 Original by-laws
  The incorporators shall adopt the original by-laws of the association. L.1963, c. 144, s. 15. ...
• New Jersey Statutes 17:12B-16 Application to commissioner for approval
  The certificate of incorporation and the by-laws shall be submitted to the commissioner for his approval. Within 10 days thereafter, the commissioner shall give written ...
• New Jersey Statutes 17:12B-17 Notice of application and hearing thereon
  The incorporators shall give public notice of such application and of the time and place designated by the commissioner for the hearing thereon, by publishing ...
• New Jersey Statutes 17:12B-18 Guaranty account
  In the case of an application for the incorporation of a mutual association, and as a condition precedent to the approval of any such application, ...
• New Jersey Statutes 17:12B-19 Hearing
  At such hearing or at any adjournment thereof which may be granted by the commissioner, there shall be afforded an opportunity to be heard to ...
• New Jersey Statutes 17:12B-20 Commissioner's findings as to mutual association application
  If the commissioner shall find that: (a) the establishment of such State association is in the public interest; and (b) will be of benefit to ...
• New Jersey Statutes 17:12B-21 Commissioner's decision
  Within 30 days after the close of the hearing, the commissioner shall announce his decision upon such application and file in his office, a written ...
• New Jersey Statutes 17:12B-22 Certificate to be filed
  The certificate of incorporation with the commissioner's approval endorsed thereon or annexed thereto, shall be recorded within 30 days after such approval, in the office ...
• New Jersey Statutes 17:12B-23 Time limit for commencing business
  If the incorporators fail to complete the organization of a State association and to cause it to commence business within 6 months from the date ...
• New Jersey Statutes 17:12B-24 Establishment, operation of branch offices by State association
  24. A. No State association shall hereafter establish or operate a branch office or offices, other than as provided by law without the ...
• New Jersey Statutes 17:12B-24.1 Change of location of office of State association
  89.a. Upon filing an application therefor in the department, and upon obtaining the approval of the commissioner thereto a State association may change ...
• New Jersey Statutes 17:12B-24.2 Powers of out-of-State, State association
  93. a. An out-of-State association that opens, occupies or maintains a branch office in this State shall have in this State only the ...
• New Jersey Statutes 17:12B-27.2 Time limit for opening branch office; discontinuance of branch office
  The failure of a State association to open and operate a branch office within 12 months after the commissioner approves the application therefor, shall automatically ...
• New Jersey Statutes 17:12B-28 Interchange of principal and branch offices
  A State association may change the location of its principal office to a location then occupied by a branch office operated by it, subject to ...
• New Jersey Statutes 17:12B-29 Auxiliary offices
  A State association may, pursuant to resolution of its board, establish and operate not more than one auxiliary office, as defined in section 8 of ...
• New Jersey Statutes 17:12B-30 Auxiliary office, establishment, location
  30. No auxiliary office shall be established or operated at a location which is outside this State or more than one mile from ...
• New Jersey Statutes 17:12B-31 Auxiliary office, permitted business transactions
  31. No business shall be transacted at an auxiliary office other than (a) the receipt of payments, deposits of currency, ...
• New Jersey Statutes 17:12B-32 Business to be transacted only with persons outside structure
  The business authorized by section 31 of this act shall be transacted only with persons who, while such business is being transacted, remain outside the ...
• New Jersey Statutes 17:12B-33 Property to be used for auxiliary office; parking facilities
  An association may, for the purpose of establishing an auxiliary office or offices, purchase or lease real property, or it may use real property heretofore ...
• New Jersey Statutes 17:12B-34 Auxiliary office not deemed branch or limited facility branch office
  An auxiliary office shall not be deemed a branch office or limited facility branch office within the meaning of section 24 of this act. Each ...
• New Jersey Statutes 17:12B-35 Other powers not affected
  Nothing in sections 29 through 34 of this act shall impair the powers of an association to purchase, hold, lease or convey real property or ...
• New Jersey Statutes 17:12B-36 Measurement of distances
  For the purposes of this act, distances shall be measured along a straight line drawn between the center point of the main entrance of the ...
• New Jersey Statutes 17:12B-37 Agencies
  a. Any State association shall have the right to make written application to the commissioner for permission to establish and operate an agency or agencies ...
• New Jersey Statutes 17:12B-37.1 Remote service units; establishment or use; sharing; regulations
  A State association may establish or use remote service units as defined in section 8 of P.L.1963, c. 144 (C. 17:12B-8). The commissioner may require ...
• New Jersey Statutes 17:12B-38 By-laws
  Each State association shall adopt such by-laws as may be required by the provisions of this act and as it may deem necessary or desirable ...
• New Jersey Statutes 17:12B-38.1 Association official immunity
  An association may with the approval of the commissioner, amend its certificate of incorporation or bylaws, by a two-thirds vote of its board present and ...
• New Jersey Statutes 17:12B-39 Commissioner's approval required
  No by-law nor any change in the by-laws shall become effective until it shall have been submitted in writing to the commissioner and he shall ...
• New Jersey Statutes 17:12B-40 Change of office location
  A State association may change the location of its principal office to a new location subject to the following requirements: (1) If the new location ...
• New Jersey Statutes 17:12B-40.1 Failure to open and operate relocated principal office; effect
  The failure of a State association to open and operate a relocated principal office within 12 months after the commissioner approves the application therefor, shall ...
• New Jersey Statutes 17:12B-45 Failure to open and operate relocated principal office; effect
  The failure of a State association to open and operate a relocated principal office within 6 months after the commissioner approves the application therefor, shall ...
• New Jersey Statutes 17:12B-46 Change of name
  A State association may with the approval of the commissioner, change its name by a 2/3 vote of its board present and voting at a ...
• New Jersey Statutes 17:12B-46.1 Definitions relative to emergency closings
  1. A. The following words as used in this act, unless a different meaning is plainly required by the context, shall have the ...
• New Jersey Statutes 17:12B-46.2 Proclamation of emergency
  Whenever the commissioner is of the opinion that an emergency exists in this State or in any part or parts of this State he shall, ...
• New Jersey Statutes 17:12B-46.3 Action by officers after proclamation of emergency
  The officers of any association directly or indirectly affected by the emergency proclaimed by the commissioner shall have the authority to determine whether one or ...
• New Jersey Statutes 17:12B-46.4 Duration of emergency
  Any office closed pursuant to section 3 of this act shall remain closed until the commissioner proclaims that the emergency has ended, or until the ...
• New Jersey Statutes 17:12B-46.5 Action by officers when no emergency proclaimed
  Whenever the officers of an association are of the opinion that an emergency, as defined in section 1 of this act, exists which directly or ...
• New Jersey Statutes 17:12B-46.6 Responsibility of officers
  Any officer acting in good faith under the provisions of this act shall be deemed to have exercised the discretion herein specifically conferred upon him ...
• New Jersey Statutes 17:12B-46.7 Notice to commissioner
  An association closing an office or offices or reopening an office or offices, pursuant to any provision of this act, shall give as prompt notice ...
• New Jersey Statutes 17:12B-46.8 Effect of emergency closing
  No association shall be liable to any person for any direct or indirect loss suffered by such person by reason of the association's closing one ...
• New Jersey Statutes 17:12B-46.9 Associations to be saved harmless
  An association which closes one or more or all of its offices pursuant to this act shall be saved harmless from all liability to any ...
• New Jersey Statutes 17:12B-46.10 Regulations of the commissioner
  The commissioner may make such orders and regulations, not inconsistent with this act, as he shall deem necessary to provide for the uninterrupted continuance of ...
• New Jersey Statutes 17:12B-46.11 Construction of act
  The provisions of this act shall be construed and applied as being in addition to, and not in substitution of, any other law of this ...
• New Jersey Statutes 17:12B-46.12 Short title
  This act may be cited as the "Savings and Loan Emergency Closing Act." L.1968, c. 150, s. 12, eff. July 12, 1968. ...
• New Jersey Statutes 17:12B-47 General powers
  Every association shall have all of the powers conferred by this act, both expressed and implied, and such others as are incidental thereto, and incidental ...
• New Jersey Statutes 17:12B-48 Powers of association
  48. Without limiting the generality of the foregoing, every association shall have power to: (1) Have succession by its corporate ...
• New Jersey Statutes 17:12B-49 Rental and maintenance of safe deposit boxes
  An insured association shall have power to keep, maintain and rent out for hire, at the location occupied by its principal office or any branch ...
• New Jersey Statutes 17:12B-50 Pension plans
  Every association shall have power to adopt, alter, contract for or rescind a plan or plans providing for the payment of pensions to its officers ...
• New Jersey Statutes 17:12B-51 Provisions of pension plan
  Without limiting the generality of the type of pension plan or plans a State association may adopt, a pension plan adopted may provide for: (a) ...
• New Jersey Statutes 17:12B-52 Eligibility for pension payments
  An officer or employee shall be eligible to begin to receive pension payments at such age and following such period of service as shall be ...
• New Jersey Statutes 17:12B-53 Determination of amount; specification in pension plan
  No State association shall pay or contract for the payment or adopt a plan providing for the payment of any annual pension payment unless the ...
• New Jersey Statutes 17:12B-54 Excess payments; employee contributions
  Nothing in this act shall prevent the payment of greater benefits as set forth in the plan if the officer or employee contributes the premium ...
• New Jersey Statutes 17:12B-55 Death benefits
  Where a plan or plans provide for death benefits, said death benefits shall not exceed an amount equal to 100 times the monthly pension benefit ...
• New Jersey Statutes 17:12B-56 Appropriation for payments; merger of associations
  Any payments required to establish a pension fund out of which benefits may be paid directly or to provide for prior service credits under the ...
• New Jersey Statutes 17:12B-57 Submission of pension plan for approval of commissioner
  Every pension plan adopted or altered for a State association shall before it is placed in operation, be submitted to the commissioner for his approval. ...
• New Jersey Statutes 17:12B-58 Plans sponsored by federal home loan banks
  Notwithstanding any other provisions of this act, a State association, with the approval of the commissioner, may adopt any plan for retirement or disability benefits ...
• New Jersey Statutes 17:12B-59 Contracts for pension payments to retired officers and employees
  In addition to the powers to adopt pension plans as set forth in this act, a State association may subject to the approval of the ...
• New Jersey Statutes 17:12B-60 Discontinuance of participation in pension plan
  Any State association may at any time discontinue its participation in a pension plan and terminate any and all prospective liability in connection therewith, by ...
• New Jersey Statutes 17:12B-61 Transmission of money; money orders; travel checks
  Any association may receive money for transmission and may transmit such money through the Federal Home Loan Bank of New York, or through any bank ...
• New Jersey Statutes 17:12B-62 Directors, number, powers.
  62. Directors, number, powers. The business and affairs of every State association shall be managed and directed by a board of directors. The ...
• New Jersey Statutes 17:12B-62.1 Association deemed in compliance with prohibition on interlocking relationships
  27. Any association that is in compliance with the federal "Depository Institution Management Interlocks Act," 12 U.S.C. s.3201 et seq. and the federal ...
• New Jersey Statutes 17:12B-63 Director's election; vacancies
  The directors shall be elected by the members of a mutual association or the stockholders of a capital stock association, as the case may be, ...
• New Jersey Statutes 17:12B-64 Attorneys; employees
  The board may retain or employ one or more attorneys-at-law or firm of attorneys-at-law of this State for a term not longer than 1 year. ...
• New Jersey Statutes 17:12B-65 Officers
  65. The officers of every State association shall be a president, one or more vice presidents, a secretary and a treasurer and may ...
• New Jersey Statutes 17:12B-66 Officers' powers
  Each officer in addition to such powers and duties as usually pertain to his office shall have such powers and duties as the by-laws may ...
• New Jersey Statutes 17:12B-67 Oath of office of directors and officers
  Each officer and director shall, before entering upon the duties of his office, take and subscribe to the following oath or affirmation of office: OATH ...
• New Jersey Statutes 17:12B-67.1 Disqualification of officers, directors or employees; conviction of crime; pendency of appeal
  Except with the written consent of the commissioner, no person who has been convicted, or who is hereafter convicted, of any crime involving dishonesty or ...
• New Jersey Statutes 17:12B-67.2 Penalty
  For each willful violation of this prohibition, the association shall be liable to a penalty of not more than $100.00 a day, for each day ...
• New Jersey Statutes 17:12B-68 Minimum account requirements for directors
  Each director shall at all times own, in his own name, an account in his State association having an unencumbered balance as hereinafter set forth: ...
• New Jersey Statutes 17:12B-69 Loans to officers, directors, attorneys or employees
  In accordance with rules and regulations promulgated by the Federal Savings and Loan Insurance Corporation, a State association may make or purchase any loan which ...
• New Jersey Statutes 17:12B-70 Default by directors and officers
  No person who is in default for a period of more than 3 months in the payment of any obligation to an association, shall be ...
• New Jersey Statutes 17:12B-71 Restriction upon purchase of accounts
  No officer, director, attorney or firm of attorneys or employee of any State association shall purchase any savings account or shares in such State association ...
• New Jersey Statutes 17:12B-72 Limitation of expenses
  The aggregate amount of an association's expenses in any fiscal year for the compensation of officers, employees and directors and for premiums, contributions, or other ...
• New Jersey Statutes 17:12B-73 Bonds required; indemnification of officers, directors and employees
  A. Bonds required The board shall require the secretary, treasurer, attorney, conveyancer and every other officer, director, employee, or agent handling or having the custody ...
• New Jersey Statutes 17:12B-74 Membership generally
  The members of a State association shall be those in whose names accounts are established either as savings members or as borrowing members. Except as ...
• New Jersey Statutes 17:12B-75 Plans
  Each mutual association shall operate upon one of the plans set forth in this section; and the bylaws of each mutual association shall designate under ...
• New Jersey Statutes 17:12B-76 Nonshare plan
  A State association operating pursuant to the nonshare plan shall issue to each savings member an account book or, in lieu thereof, any other evidence ...
• New Jersey Statutes 17:12B-77 Share plan
  Membership in a State association operating pursuant to the share plan shall be evidenced by a share certificate, account book, or, in lieu thereof any ...
• New Jersey Statutes 17:12B-78 Limitation upon accounts
  No savings member shall hold an account or accounts in any one State association with an aggregate participation value exceeding $20,000.00 or 1% of the ...
• New Jersey Statutes 17:12B-79 Forms of certificate
  Forms of certificate. The following form of membership certificate is hereby prescribed. This certifies that ..................... is a savings borrowing .................................. member of the undersigned ...
• New Jersey Statutes 17:12B-80 Governmental agencies may be members
  The United States of America, the State of New Jersey, or any agency or instrumentality of either of them, or any corporation incorporated under the ...
• New Jersey Statutes 17:12B-81 Minors
  Minors may be members and shall be entitled to all of the rights and privileges and subject to all of the duties and liabilities of ...
• New Jersey Statutes 17:12B-82 Membership trust accounts
  When a membership trust account is opened in the manner provided in the "Multiple-party Deposit Account Act" , and, a. Where a trustee's death terminates ...
• New Jersey Statutes 17:12B-83 Applicability to moneys paid to account by trustee under will, other fiduciary instrument, court order or decree
  Section 82 of this act shall not apply to the moneys paid to an account by a trustee acting under a will, other fiduciary instrument, ...
• New Jersey Statutes 17:12B-84 Release from claims of fiduciaries, beneficiaries or legal representatives
  An association which makes any payment pursuant to section 82 of this act prior to service upon the association of an order of court restraining ...
• New Jersey Statutes 17:12B-85 Rights of beneficiary on death of fiduciary; effect of laws requiring valid testamentary disposition
  When an account is maintained in a form described in section 82 of this act the right of the named beneficiary to be vested with ...
• New Jersey Statutes 17:12B-86 Applicability to federal associations having principal offices in state
  The provisions of section 82 of this act shall also apply to all Federal associations having their principal offices in this State, where such procedures ...
• New Jersey Statutes 17:12B-87 Authority of attorney to manage or make withdrawals from account
  An association may continue to recognize the authority of any attorney authorized in writing to manage or to make withdrawals either in whole or in ...
• New Jersey Statutes 17:12B-89 Payment to credit of account of beneficiaries or their order
  When a membership account is opened by a person or persons payable on death to a beneficiary or beneficiaries in the manner provided in the ...
• New Jersey Statutes 17:12B-90 Payment to credit of account when beneficiaries under 16 years of age
  When a membership account is opened by a person or persons payable on death to a beneficiary or beneficiaries in the manner provided in the ...
• New Jersey Statutes 17:12B-91 Payment when account terminated and one or more beneficiaries under, and one or more beneficiaries over, 16 years of age
  When a membership account is opened by a person or persons payable on death to a beneficiary or beneficiaries in the manner provided in the ...
• New Jersey Statutes 17:12B-103 Pledge of account to association
  The pledge to any association of such an account, signed by that person or those persons who are authorized in writing to make withdrawals from ...
• New Jersey Statutes 17:12B-106 Acceptance of accounts in name of one or more administrators, custodians, executors, guardians, trustees or other fiduciaries in trust for named beneficiary
  Any association may accept accounts in the name of one or more administrators, custodians, executors, guardians, trustees, or other fiduciaries in trust for a named ...
• New Jersey Statutes 17:12B-109 Necessity for actual notice of death or incompetency of savings member
  In the absence of actual notice of death or incompetency of a savings member received by an association at the office at which the member's ...
• New Jersey Statutes 17:12B-110 Transfer of membership
  A member may transfer, absolutely or conditionally, his membership to any other person, subject to the provisions of this act, by a written assignment accompanied ...
• New Jersey Statutes 17:12B-111 Lost certificates and account books
  Upon filing with an association by a member of record, or his legal representative, of an affidavit showing that his account book has been lost, ...
• New Jersey Statutes 17:12B-112 Termination of membership
  The membership of a savings member shall terminate when the amount of his account has been paid to him in full or when the transfer ...
• New Jersey Statutes 17:12B-113 Notice to members
  Except where this act expressly provides otherwise, all notices, statements, reports or other documents required to be given to any member, shall be given to ...
• New Jersey Statutes 17:12B-114 Meeting place
  Members' meetings shall be held at the State association's principal office or at such other place within a radius of 5 miles thereof as the ...
• New Jersey Statutes 17:12B-115 Meetings
  (1) Annual. The members shall meet at least once in each year, as the by-laws shall provide, upon not less than 10 days' written notice ...
• New Jersey Statutes 17:12B-116 Quorum
  The by-laws may prescribe the number of members which shall constitute a quorum at a meeting. In the absence of any provision in the by-laws, ...
• New Jersey Statutes 17:12B-117 Confidential relationship of an association to its members
  The relationship of an association to each of its members constitutes a confidential relationship and no association or any of its directors, officers or employees ...
• New Jersey Statutes 17:12B-118 Procedure to obtain information or communicate with members
  (1) Any member desiring information from his State association or desiring to communicate with other members of his State association may file with such State ...
• New Jersey Statutes 17:12B-119 Costs and expenses incidental to application for information; payment by applicant
  If the application is for information, and if the State association grants the application, the State association may require the applicant to pay the costs ...
• New Jersey Statutes 17:12B-120 Application for communication with other members; preparation and mailing of copies of communication; payment of costs and expenses by applicant
  If the application is to enable the member to communicate with other members of the State association, and if the State association grants the application, ...
• New Jersey Statutes 17:12B-121 Application for order requiring state association to grant application for information or to communicate with members
  (1) If the State association fails to grant any application submitted pursuant to the provisions of section 118 of this act within 10 days after ...
• New Jersey Statutes 17:12B-122 Hearing before commissioner; designation of time and place; notice; adjournments
  The commissioner shall, within 30 days from the date such application is presented to him, designate a time and place for a hearing upon such ...
• New Jersey Statutes 17:12B-123 Merits of application; determinations by commissioner
  At such hearing, or such independent examination or investigation as the commissioner may make, the commissioner shall examine into the merits of the application and ...
• New Jersey Statutes 17:12B-124 Decision of commissioner; filing memorandum; notice
  Within 30 days after the close of the hearing, the commissioner shall announce his approval (in whole or in part) or denial of such application ...
• New Jersey Statutes 17:12B-125 Exclusive procedure; review of commissioner's action; effect of failure to act
  The procedure, set forth in sections 118 through 124 of this act, for obtaining information by a member or enabling a member to communicate with ...
• New Jersey Statutes 17:12B-125.1 Application of sections 118 through 124 to federal associations
  Insofar as the provisions of sections 118 through 124 of this act regarding obtaining information by a member or enabling a member to communicate with ...
• New Jersey Statutes 17:12B-126 Voting rights of members
  126. Voting of rights members. Each member 16 years of age, or over, shall be entitled to vote at any meeting of a ...
• New Jersey Statutes 17:12B-127 Determination of net income
  At the end of each accounting period and at least annually the board of each State association shall determine the amount of net income, if ...
• New Jersey Statutes 17:12B-128 General reserve, bad debt reserves and Federal insurance reserve accounts
  (a) A general reserve account shall mean a reserve account established and maintained for the purpose of absorbing losses. Each State association shall establish such ...
• New Jersey Statutes 17:12B-129 Special reserve accounts
  Each State association shall establish and maintain such special reserve accounts as are required by the provisions of this act and may establish and maintain ...
• New Jersey Statutes 17:12B-130 Dividend participation; exceptions
  (a) At least annually and after determination of the net income for the accounting period and the establishment of reserves required or permitted by this ...
• New Jersey Statutes 17:12B-131 Undivided profits account
  Any net income or any other available profits which remain after reserve and dividend requirements have been met, may be maintained in an undivided profits ...
• New Jersey Statutes 17:12B-132 Restrictions upon reserves and undivided profits account
  The aggregate amount of all reserve and undivided profits accounts of any association shall not be increased so long as the aggregate amount of such ...
• New Jersey Statutes 17:12B-133 Reward profit or bonus plan
  Any association which may have adopted a reward profit or bonus plan under previous law or regulations of the commissioner may continue such plan, except ...
• New Jersey Statutes 17:12B-134 Application for withdrawal
  Any member may, at any time, file with his State association a written application for payment of all or any part of the withdrawal value ...
• New Jersey Statutes 17:12B-135 Cancellation of withdrawal application
  Any withdrawal application may be canceled, in whole or in part, at the written request of the withdrawing member, with the consent of the State ...
• New Jersey Statutes 17:12B-136 Association operating under Plan 1; payment on presentation of withdrawal application or other notice
  A State association operating pursuant to Plan 1 or Plan 4 as set forth in section 75 of this act, may pay the amount requested ...
• New Jersey Statutes 17:12B-137 Association operating under other than Plan I; payment on presentation of withdrawal application; other procedure
  Any State association operating on any plan other than Plan I, as defined in section 76 of this act, may pay the amount requested in ...
• New Jersey Statutes 17:12B-138 Funds required for withdrawals
  Within the first 10 days of each fiscal month, each State association operating on a plan other than Plan I shall apply to the payment ...
• New Jersey Statutes 17:12B-139 Rotation plan
  If any State association operating under any plan other than Plan I, as defined in section 76 of this act, shall find that within the ...
• New Jersey Statutes 17:12B-140 Payment of withdrawals on other plans and purchase of accounts prohibited; authority of commissioner
  No State association shall obligate itself to pay withdrawals on any other plan than that provided in this act, nor shall any State association purchase ...
• New Jersey Statutes 17:12B-141 Application of withdrawal value to indebtedness
  A State association may apply and credit the full withdrawal value of any account pledged with it as security for the payment of any debt, ...
• New Jersey Statutes 17:12B-142 Dividend retention
  Any State association, except one which operates under the nonshare plan described in section 76 of this act, may, upon the withdrawal of an account ...
• New Jersey Statutes 17:12B-143 Restrictions on actions
  No person shall institute or prosecute any action against an association to recover the value of any account or any part thereof, until an application ...
• New Jersey Statutes 17:12B-144 Retirement
  If funds are on hand for the purpose, any State association may, by resolution of its board, retire any account by giving at least 30 ...
• New Jersey Statutes 17:12B-145 Investments authorized
  The funds of every association shall be invested in accordance with the provisions of this act. L.1963, c. 144, s. 145. ...
• New Jersey Statutes 17:12B-145.1 Origination, acquisition of mortgage loans by association
  26. An association may originate or acquire mortgage loans secured by a mortgage constituting a lien upon real property or upon a lease ...
• New Jersey Statutes 17:12B-155 Procedure for making other loans
  155. Other loans may be made as follows: A. Account loans. Loans secured by a pledge of a member's savings account. ...
• New Jersey Statutes 17:12B-156 Investments in additional loans
  156. Investments in additional loans. A. An association may make additional loans or advances for any purpose expressly or impliedly reserved ...
• New Jersey Statutes 17:12B-157 Property improvement loans without mortgage liens
  Investments in loans for the purpose of repair, alteration, improvement, construction, adding to, modernizing, equipping or rehabilitation of real estate upon which an association shall ...
• New Jersey Statutes 17:12B-158 Definitions as used in sections 159 through 164 (C. 17:12B-159 through C. 17:12B-164) of this act
  The following words and phrases as used in sections 159 through 164 (C. 17:12B-159 through C. 17:12B-164) of this act, unless a different meaning is ...
• New Jersey Statutes 17:12B-159 Limitations on such loans
  (1) (Deleted by amendment.) (2) Each such loan shall be evidenced by one or more notes, bonds or other written evidence of indebtedness, and no ...
• New Jersey Statutes 17:12B-160 Charges on such loans
  Notwithstanding the provisions of R.S. 31:1-1 or any other law to the contrary, the maximum charge which an association may contract for and receive on ...
• New Jersey Statutes 17:12B-162 Schedules of charges
  The Commissioner of Banking may prepare and distribute to such associations as shall make a request therefor, a schedule or schedules to be used in ...
• New Jersey Statutes 17:12B-163 Rebates on prepayment
  When the unpaid balance owing upon a loan as defined in section 158 of P.L.1963, c. 144 (C. 17:12B-158) is repaid in full or the ...
• New Jersey Statutes 17:12B-164 Other charges in connection with loans
  Any Federal association may charge in connection with any loan, as interest, discount, premium, late charge or any other charge, any amount which may be ...
• New Jersey Statutes 17:12B-165 Other investments, securities
  A State association may invest as follows: (1) Obligations of the United States. In obligations of or guaranteed as to principal and interest by the ...
• New Jersey Statutes 17:12B-166 Real estate
  Investments may be made in real estate as follows: (1) Office building for transaction of State association's business. In the purchase of improved or unimproved ...
• New Jersey Statutes 17:12B-168 Limitations on amounts of real estate loans and investments
  168. Limitations on amounts of real estate loans and investments. No State association shall make loans or extensions of credit in ...
• New Jersey Statutes 17:12B-169 Restrictions on investments
  (1) No uninsured State association shall make any of the investments authorized by this act, except investments in account loans, obligations of or guaranteed as ...
• New Jersey Statutes 17:12B-170 Report of financial condition available to members
  170. Every State association shall make available to its members annually, upon request, a report of its financial condition as of the end ...
• New Jersey Statutes 17:12B-171 Reports to commissioner; violations, penalties.
  171. Every State association shall, within 60 days after the close of each fiscal year, file in the department, on blanks to be ...
• New Jersey Statutes 17:12B-172 Examination, inspection, supervision of associations.
  172. Every State association and every out-of-State association with a branch office in this State shall be subject to the examination, inspection and ...
• New Jersey Statutes 17:12B-173 Exhibition of books, papers, securities, oaths; subpoena
  173. The officers, directors and employees of the State association or an out-of-State association shall exhibit its books, papers and securities to the ...
• New Jersey Statutes 17:12B-174 False testimony; perjury
  A person who shall willfully and corruptly testify falsely to a material matter, upon oath or affirmation administered by the commissioner or examiner upon such ...
• New Jersey Statutes 17:12B-175 Immunity to violator testifying
  Any person violating this act shall be a competent witness and compellable to testify in any proceeding under sections 172 and 173 of this act ...
• New Jersey Statutes 17:12B-176 Audits
  (1) The board of every such State association, other than an insured State association, shall cause a thorough audit of the condition of the State ...
• New Jersey Statutes 17:12B-177 Commissioner's additional powers
  The commissioner's powers and duties conferred and imposed by this article shall be in addition to those conferred and imposed by the other provisions of ...
• New Jersey Statutes 17:12B-178 Order to continue illegal, unsafe practices; violations, penalty
  178. If it shall appear to the commissioner that a State association or an out-of-State association has violated any law of this State ...
• New Jersey Statutes 17:12B-179 Grounds for action by commissioner
  Revocation of authority to transact business. If it shall appear to the commissioner that the interests of the creditors or members of a State association ...
• New Jersey Statutes 17:12B-180 Conservation orders
  For the purpose of conserving the assets of a State association and of protecting the interests of its members and the public, the commissioner may ...
• New Jersey Statutes 17:12B-181 Action for relief
  The commissioner may institute an action in the Superior Court to restrain the State association from transacting further business, or from transferring or disposing of ...
• New Jersey Statutes 17:12B-182 Commissioner's authority
  The commissioner may forthwith take charge of the State association and possession of all its real and personal property, books and records, and continue the ...
• New Jersey Statutes 17:12B-183 Purpose of possession and operation by commissioner
  The purpose of the commissioner's management of a State association and operation of its business and possession of its assets shall be to enable him ...
• New Jersey Statutes 17:12B-184 Return of management and possession
  The commissioner may return the management of a State association to its board and the possession of its property to the State association at any ...
• New Jersey Statutes 17:12B-185 Powers of commissioner in possession
  The commissioner shall have full and complete powers necessary to enable him to determine promptly and efficiently whether it is for the best interests of ...
• New Jersey Statutes 17:12B-186 Appointment and compensation of counsel and assistants
  The commissioner may, from time to time appoint one or more special assistant deputy commissioners of banking and insurance, who may or may not be ...
• New Jersey Statutes 17:12B-187 Segregation and application of money paid after commissioner takes possession
  (a) All moneys, which shall be paid on any unpledged account or shares of a State association after the commissioner has taken charge of such ...
• New Jersey Statutes 17:12B-188 Effect of commissioner's possession on rights of third persons
  Upon taking charge of a State association and possession of its property, the commissioner shall give notice thereof forthwith to all persons holding or having ...
• New Jersey Statutes 17:12B-189 Financial statements by commissioner
  At least annually, and upon the termination of his possession of the assets of a State association, the commissioner shall submit a financial statement and ...
• New Jersey Statutes 17:12B-190 Dissolution; Liquidation; Action by members
  If the commissioner determines that it is for the best interest of the members and the public that the State association be dissolved and liquidated, ...
• New Jersey Statutes 17:12B-191 Relief in court from commissioner's action
  If a State association, of whose property and business the commissioner has taken possession as aforesaid, or any member thereof, deems itself or himself aggrieved ...
• New Jersey Statutes 17:12B-192 Disposition of unclaimed funds due to members and creditors
  If any liquidating dividend due to any member or any amount due to any creditor, remains in the hands of the commissioner for a period ...
• New Jersey Statutes 17:12B-193 Liquidation and accounting by commissioner
  On making application to the court for approval of expenses of administration as provided by section 186 of this act, the commissioner shall file in ...
• New Jersey Statutes 17:12B-194 Action upon commissioner's refusal to act
  If the capital of a State association becomes impaired, or if it suspends its ordinary business for want of funds to carry it on, and ...
• New Jersey Statutes 17:12B-195 Proceedings before commissioner
  (1) Review of commissioner's determination. Except as herein otherwise provided, any State association or member aggrieved by any determination, decision or order of the commissioner ...
• New Jersey Statutes 17:12B-196 Applications for commissioner's approval
  In all cases where the commissioner's approval is required and no procedure for obtaining the same is specified, application therefor shall be made in writing ...
• New Jersey Statutes 17:12B-197 Bookkeeping methods and accounting practices; destruction of books, records, et cetera
  The commissioner may adopt rules and regulations with respect to bookkeeping methods and accounting practices designed to produce safety of operation and each State association ...
• New Jersey Statutes 17:12B-198 Authority
  Any two or more State associations may merge into a single State association, under the terms and procedure hereinafter set forth. Any State association may ...
• New Jersey Statutes 17:12B-198.1 Merger between State, out-of-State associations
  98. a. One or more State associations may, with the approval of the commissioner, merge with an out-of-State association or associations, or with ...
• New Jersey Statutes 17:12B-199 Procedure; notice; approval on expedited basis
  The boards of the State associations desiring to merge, shall each pass a resolution indicating such desire by at least a 2/3 vote of each ...
• New Jersey Statutes 17:12B-200 Terms
  The terms of merger shall be those which have been agreed upon by at least 2/3 's of the board of each association. Such terms ...
• New Jersey Statutes 17:12B-201 Recording of agreement
  Before a merger shall become effective the State associations shall jointly certify to the commissioner that they have complied with all of the requirements of ...
• New Jersey Statutes 17:12B-202 Application for establishment of section 27 branch office or offices
  Simultaneously with the submission of the resolution required by section 199 of this act, any State association, into which another State association or State associations ...
• New Jersey Statutes 17:12B-203 Effect of merger
  Upon the merger of any State association into another: (a) Its corporate existence shall be merged into that of the other State association, and all ...
• New Jersey Statutes 17:12B-204 Bulk transfers
  (1) Bulk transfers authorized Any State association may with the written approval of the commissioner, transfer, sell, or exchange in bulk and not in the ...
• New Jersey Statutes 17:12B-205 Certificate of transfer of assets; resultant liquidating corporation
  Whenever any assets of a State association are to be liquidated by the board of an association, as provided in section 204 of this act, ...
• New Jersey Statutes 17:12B-206 Purchase of assets; inapplicability of Article X
  Any association may purchase assets from another association which sells all or a part of its assets in accordance with section 204 of this act ...
• New Jersey Statutes 17:12B-207 Liquidating corporations
  Each liquidating corporation created pursuant to the provisions of section 205 of this act shall be a corporation for the sole purpose of liquidating, promptly ...
• New Jersey Statutes 17:12B-208 Creditors; claims barred
  The liquidating corporation shall give public notice that all persons having claims against any association whose assets have been transferred shall present such claims under ...
• New Jersey Statutes 17:12B-209 Notice of dispute; limitation of action
  If the corporation disputes all or any part of any claim which is duly presented to it, and gives written notice of such dispute to ...
• New Jersey Statutes 17:12B-210 Applicability of sections 17:12B-208, 17:12B-209 to indebtedness on loan to enable association to effect sale of assets
  The provisions of sections 208 and 209 of this act shall not be applicable to or in any way affect any indebtedness on account of ...
• New Jersey Statutes 17:12B-211 Jurisdiction of Superior Court
  Each such corporation or its board may institute an action in the Superior Court for instructions with respect to any matter pertaining to the liquidation ...
• New Jersey Statutes 17:12B-212 Termination of corporate existence
  Within 90 days after the affairs of each such corporation shall have been fully settled and its assets liquidated and the proceeds thereof distributed, or ...
• New Jersey Statutes 17:12B-213 "Foreign association" defined
  For the purposes of this article the words "foreign association" shall not be deemed to include an association, as defined in section 5 of P.L.1963, ...
• New Jersey Statutes 17:12B-214 Business prohibited within State, exceptions
  214. a. Foreign associations shall not transact the business of a savings and loan association within this State, or maintain an office within ...
• New Jersey Statutes 17:12B-215 Violation; penalty
  Any natural person who shall violate the prohibitions of this article shall be guilty of a misdemeanor, and, upon conviction thereof, shall be subject to ...
• New Jersey Statutes 17:12B-216 Filing copy of application and statement of acceptance or rejection
  Each State association which applies for the insurance of its accounts by the Federal Savings and Loan Insurance Corporation shall file with the commissioner within ...
• New Jersey Statutes 17:12B-217 Terminating insurance
  No such State association shall terminate such insurance except after 30 days' prior written notice thereof to the commissioner, unless the commissioner shall have waived ...
• New Jersey Statutes 17:12B-218 Powers of commissioner not impaired
  Nothing contained in this article shall be construed as repealing, modifying or impairing any powers, duties, rights or responsibilities of the commissioner in respect to ...
• New Jersey Statutes 17:12B-219 Joint powers with insurance corporation
  Upon its filing such election to assume and exercise such powers, the Federal Savings and Loan Insurance Corporation and the commissioner shall be vested jointly ...
• New Jersey Statutes 17:12B-220 Powers of insurance corporation
  The Federal Savings and Loan Insurance Corporation shall have all the rights, privileges and powers conferred upon it by the Federal statutes now or hereafter ...
• New Jersey Statutes 17:12B-221 Voting rights
  Notwithstanding any other provision or provisions of the law granting, governing, defining or limiting the powers or right of members to vote upon any question ...
• New Jersey Statutes 17:12B-222 Procedure
  Any association which is a member of a Federal Home Loan Bank may convert itself into a Federal association with the same force and effect ...
• New Jersey Statutes 17:12B-223 Corporate existence continued upon conversion
  Upon the conversion of any association into a Federal association, the corporate existence of such association shall not terminate, but such Federal association shall be ...
• New Jersey Statutes 17:12B-224 Conversion from Federal to State charter; procedure
  Conversion from Federal to State charter; procedure. Any federal association may convert itself into an association of this State with the same force and effect ...
• New Jersey Statutes 17:12B-225 Approval by commissioner; filing of certificate; corporate existence continued
  Upon the filing with the commissioner of the certificate as provided in paragraph (d) of section 224 of this act and before approving the conversion ...
• New Jersey Statutes 17:12B-226 Fees, charges
  226. A. Every State association shall pay to the commissioner for the use of the State a fee, to be prescribed by the ...
• New Jersey Statutes 17:12B-227 Payment of commissioner's expenses
  The necessary expenses incurred by the commissioner in carrying out the provisions of this act, when not otherwise provided for, shall be paid out of ...
• New Jersey Statutes 17:12B-228 Dissolution
  Action by the board and the members. Trustees. Commissioner's approval. Any association may be dissolved as follows: Its board may adopt a resolution declaring that ...
• New Jersey Statutes 17:12B-229 Definition of liquidation
  As used in this act, liquidation shall include the winding up and settlement of the business and affairs of an association, the liquidation of its ...
• New Jersey Statutes 17:12B-230 Continuation of corporate existence
  After dissolution, an association shall continue to be a body corporate and retain title to all its real and personal property for the purpose of ...
• New Jersey Statutes 17:12B-231 Trustees; bonds; removal; successors; action by majority
  Each trustee before entering upon his duties, shall file with the commissioner a bond to the association in such sum as the commissioner shall fix, ...
• New Jersey Statutes 17:12B-232 Liquidation period; extension
  All liquidation proceedings hereafter commenced shall be completed within 5 years from the date of dissolution or within such further time as may be allowed ...
• New Jersey Statutes 17:12B-233 Powers
  Every dissolved association shall have all powers necessary to accomplish its liquidation promptly, efficiently and completely, including, but not by way of limitation, the following: ...
• New Jersey Statutes 17:12B-234 Creditors; claims barred
  The association shall give public notice that all persons having claims against it, shall present them under oath, at the association's office, within 3 months ...
• New Jersey Statutes 17:12B-235 Application of participation value to indebtedness
  The participation value, at the date of dissolution of an association, of any account in such association which is pledged as security for the payment ...
• New Jersey Statutes 17:12B-236 Sinking fund mortgages; extension of time for payment
  Any owner of land, which is subject to a sinking fund mortgage held by an association which has been dissolved, may apply in writing to ...
• New Jersey Statutes 17:12B-237 Notice to sinking fund mortgagors
  Within 30 days after the date of its dissolution, the association shall mail to each owner of land, which is subject to a sinking fund ...
• New Jersey Statutes 17:12B-238 Commissioner's jurisdiction
  Each association in liquidation shall remain subject to the jurisdiction and supervision of the commissioner. L.1963, c. 144, s. 238. ...
• New Jersey Statutes 17:12B-239 Accounting by trustees; examination by commissioner; report to members; notice to creditors
  At least annually, unless the commissioner, for good cause, extends the time therefor, and at such other times as the commissioner may require, the trustees ...
• New Jersey Statutes 17:12B-240 Jurisdiction of Superior Court; trustees; compensation
  The Superior Court shall have full and complete jurisdiction of associations in liquidation and their trustees, and of all matters and questions arising or growing ...
• New Jersey Statutes 17:12B-241 Insured accounts eligible investment for trust and public funds, and savings banks and as security
  All public funds, including those of the State of New Jersey, or any county or municipality or other political subdivision of New Jersey, and those ...
• New Jersey Statutes 17:12B-242 Separability; partial invalidity
  If any provision of this act, or the application thereof to any person, is held invalid, the remaining provisions of this act, and the application ...
• New Jersey Statutes 17:12B-243 Effective date
  This act shall take effect 90 days after its approval. L.1963, c. 144, s. 243. ...
• New Jersey Statutes 17:12B-244 Definitions applicable to capital stock associations
  The following words and phrases as used in this act, unless a different meaning is plainly required by the context, shall have the following meaning: ...
• New Jersey Statutes 17:12B-245 Persons who may incorporate a capital stock association
  Any number of persons, not less than nine, domiciled in this State and citizens of the United States, hereinafter referred to as incorporators, may incorporate ...
• New Jersey Statutes 17:12B-246 Contents of certificate of incorporation of a capital stock association
  The incorporators shall personally sign a certificate of incorporation which shall state: a. The name of the State association and the location of its principal ...
• New Jersey Statutes 17:12B-247 Filing of certificate of incorporation of capital stock association
  The certificate of incorporation shall be filed in accordance with the provisions of sections 16 (C. 17:12B-16) and 17 (C. 17:12B-17) of this act. L.1974, ...
• New Jersey Statutes 17:12B-248 Capital stock and surplus
  In the case of an application for the incorporation of a capital stock association, the proceeds from the sale of the capital stock having par ...
• New Jersey Statutes 17:12B-249 Commissioner's findings as to a capital stock association
  If the commissioner shall find that: a. The establishment of such capital stock association is in the public interest; b. Will be of benefit to ...
• New Jersey Statutes 17:12B-250 Powers available to capital stock association
  21. The powers contained in section 47 (C.17:12B-47), section 48 (C.17:12B-48) and section 130 (C.17:12B-130) of this act shall be available to capital ...
• New Jersey Statutes 17:12B-250.1 Capital stock association official immunity
  A capital stock association may with the approval of the commissioner, amend its certificate of incorporation or bylaws, by a two-thirds vote of its board ...
• New Jersey Statutes 17:12B-251 Directors' election, vacancies
  The directors shall be elected by the stock holders of a capital stock association by ballot at the annual meeting for such term, not exceeding ...
• New Jersey Statutes 17:12B-252 Liability of stockholders
  Stockholders, after their stock has been fully paid, are not liable to creditors or for assessments upon their stock. Stock shall be considered fully paid ...
• New Jersey Statutes 17:12B-253 Notice to stockholders
  Except where this act or regulations promulgated hereunder expressly provide otherwise, all notices, statements, reports or other documents required to be given to any stockholder ...
• New Jersey Statutes 17:12B-254 Meeting place
  Stockholders' meetings shall be held at the capital stock association's principal office or at such other place within the State of New Jersey as the ...
• New Jersey Statutes 17:12B-255 Meetings of stockholders
  a. Annual. The stockholders shall meet at least once in each year, as the bylaws shall provide, upon not less than 10 days' written notice, ...
• New Jersey Statutes 17:12B-256 Quorum for stockholders' meetings
  The bylaws shall prescribe the number of stockholders which shall constitute a quorum at a meeting. L.1974, c. 137, s. 27, eff. Oct. 23, 1974. ...
• New Jersey Statutes 17:12B-257 Voting rights of stockholders
  a. Each stockholder owning shares of capital stock with voting rights shall be entitled to vote at any meeting of the capital stock association. Each ...
• New Jersey Statutes 17:12B-258 Reports to stockholders
  Every capital stock association shall make available to its stockholders annually, a report of its financial condition as of the end of the fiscal year, ...
• New Jersey Statutes 17:12B-259 Dividends on capital stock
  The directors of a capital stock association, after payment of interest to depositors may declare dividends on capital stock from net income, earned surplus or ...
• New Jersey Statutes 17:12B-260 Books and records of capital stock associations; right of inspection
  a. Each capital stock association shall keep books and minutes of the proceedings of its stockholders, board and executive committee, if any. The capital stock ...
• New Jersey Statutes 17:12B-261 Conversion of mutual association to capital stock association
  A mutual association which is a member of the Federal Savings and Loan Insurance Corporation, organized pursuant to the provisions of this act, may convert ...
• New Jersey Statutes 17:12B-262 Plan of conversion
  The conversion of a mutual association into a capital stock association shall be effected in accordance with the plan of conversion adopted by the members, ...
• New Jersey Statutes 17:12B-263 Adequate reserve and capital requirements
  After reorganization or conversion pursuant to the provisions of this act, each capital stock association shall maintain an adequate capital structure appropriate for the conduct ...
• New Jersey Statutes 17:12B-264 Power to create, issue capital stock; provision for authorized but unissued stock; certificate of amendment
  35. a. Each capital stock association shall have power to create and issue the number of shares of capital stock stated in its ...
• New Jersey Statutes 17:12B-265 Supervision of capital stock associations
  In the case of a capital stock association, with regard to the provisions of Article XII, the word "member" shall be either inclusive of stockholders ...
• New Jersey Statutes 17:12B-266 Merger of capital stock associations
  In the case of the merger of any two or more capital stock associations, the procedure to merge shall be as provided in Article XIII ...
• New Jersey Statutes 17:12B-267 Conversion of a capital stock association into a Federal association
  In the case of a capital stock association, the procedure to convert itself into a Federal association shall be as provided in section 222 (C. ...
• New Jersey Statutes 17:12B-268 Conversion of a Federal association into a capital stock association
  In the case of a Federal association the procedure to convert itself into a capital stock association shall be as provided in section 224 (C. ...
• New Jersey Statutes 17:12B-269 Commencement of business of capital stock association
  Capital stock associations shall not commence business until its accounts have been accepted for Federal Savings and Loan Insurance. L.1974, c. 137, s. 40, eff. ...
• New Jersey Statutes 17:12B-270 Dissolution and liquidation of capital stock association
  In the case of the dissolution and liquidation of a capital stock association, the procedure shall be as set forth in Article XVIII of this ...
• New Jersey Statutes 17:12B-271 Construction of inconsistent provisions
  In the event of inconsistency between the provisions of this Article XXI and other provisions of this act, such other provisions to the extent of ...
• New Jersey Statutes 17:12B-272 Rules and regulations
  The commissioner shall have power to implement and carry out the provisions and purposes of this Article XXI by the promulgation and issuance of rules ...
• New Jersey Statutes 17:12B-277 Separability; partial invalidity
  If any provision of this act, or the application thereof to any person, is held invalid, the remaining provisions of this act, and the application ...
• New Jersey Statutes 17:12B-278 Definitions
  As used in this act: a. "Insured institution," "savings and loan holding company," and "control" shall have the respective meanings set forth in section 408(a) ...
• New Jersey Statutes 17:12B-279 Conditions for acquisition; control
  a. Notwithstanding the provisions of any other law of this State, an eligible insured institution or eligible savings and loan holding company may acquire and ...
• New Jersey Statutes 17:12B-280 Acquisitions in other states permitted
  a. Notwithstanding the provisions of any law of this State, an insured institution or savings and loan holding company located in this State may acquire ...
• New Jersey Statutes 17:12B-281 Definitions
  As used in this act: a. "Insured institution" and "savings and loan holding company" shall have the respective meanings set forth in Title IV, section ...
• New Jersey Statutes 17:12B-282 Information to commissioner
  a. A savings and loan holding company or an insured institution shall, upon the request of the commissioner, provide to the commissioner a copy of ...
• New Jersey Statutes 17:12B-283 Examination; report
  a. The commissioner shall have the right to examine any savings and loan holding company which controls a state association, the cost of which examination ...
• New Jersey Statutes 17:12B-284 Notice of proposed acquisition to commissioner
  a. No person, acting directly or indirectly, or through or in concert with one or more other persons, shall acquire or offer to acquire or ...
• New Jersey Statutes 17:12B-285 Fees
  The following fees shall be paid to the commissioner for the use of the State. The fees shall be in the minimum amount indicated or ...
• New Jersey Statutes 17:12B-286 FSLIC insurance required
  It shall be unlawful, on and after the date three years following the effective date of this act, for any state association to operate without ...
• New Jersey Statutes 17:12B-287 Management by commissioner
  In the event that any state association shall fail to comply with the provisions of this act, the commissioner may take charge of the state ...
• New Jersey Statutes 17:12B-288 Insurance required for charter
  No state association shall be granted a charter by the commissioner on or after the effective date of this act, unless the state association has ...
• New Jersey Statutes 17:12B-289 Rules, regulations
  The commissioner shall have the authority to promulgate rules and regulations necessary to carry out the purposes of this act. L. 1987, c. 225, s. ...
• New Jersey Statutes 17:12B-290 Violations; penalties
  Upon a finding by the commissioner, after notice and an opportunity to be heard, of a violation by any person of any provision of this ...
• New Jersey Statutes 17:12B-291 Approval required for use of word "savings bank S.L.A."
  Notwithstanding the provisions of section 14 of P.L. 1963, c. 144 (C. 17:12B-14) or any other law of this State, no state association, including a ...
• New Jersey Statutes 17:12B-292 Definitions
  As used in this act: a. "Beneficial owner" (1) Includes any person who, directly or indirectly through any contract, arrangement, understanding, relationship or otherwise, has ...
• New Jersey Statutes 17:12B-293 Approval of commissioner needed to acquire more than 25% of voting shares
  No person shall, without the prior approval of the commissioner, acting directly or indirectly or through or in concert with one or more persons: a. ...
• New Jersey Statutes 17:12B-294 Application for approval; hearing; exemption limitations
  a. An application by a person for the approval of the commissioner to obtain control of a capital stock state association, or to acquire beneficial ...
• New Jersey Statutes 17:12B-295 Factors used in determining approval
  In determining whether to approve an acquisition of shares pursuant to section 2 of this act, the commissioner shall consider the following factors: a. With ...
• New Jersey Statutes 17:12B-296 Shares acquired in violation not counted; shares to be registered
  a. Any shares in excess of 25% of the outstanding voting shares of a capital stock state association which are acquired in violation of sections ...
• New Jersey Statutes 17:12B-297 Cease and desist orders; injunction; penalties
  a. Whenever it appears to the commissioner that any person has engaged in or is about to engage in any act or practice which constitutes ...
• New Jersey Statutes 17:12B-298 Formation of mutual state association holding company
  a. After the board of directors of an organizing mutual state association has approved the formation of a mutual holding company by a 2/3 vote ...
• New Jersey Statutes 17:12B-299 Contents of certificate of incorporation
  a. The board of directors of the organizing mutual state association shall execute a certificate of incorporation for the mutual state association holding company stating: ...
• New Jersey Statutes 17:12B-300 Approval of charter
  If the commissioner determines that the establishment of a mutual state association holding company is in the best interests of the members of the organizing ...
• New Jersey Statutes 17:12B-301 Powers of mutual state association holding company
  a. The general powers of the mutual state association holding company shall be those powers conferred on corporations pursuant to the provisions of N.J.S.14A:3-1, N.J.S.14A:3-2, ...
• New Jersey Statutes 17:12B-302 Board of directors
  Every mutual state association holding company shall be managed by a board of not less than six nor more than 21 directors. Directors shall be ...
• New Jersey Statutes 17:12B-303 Powers of board
  a. The board of directors of every mutual state association holding company shall have the power to make, amend and repeal bylaws not inconsistent with ...
• New Jersey Statutes 17:12B-304 Board officers; compensation
  At the first meeting of the board of directors of the mutual state association holding company following each annual meeting, the board may elect a ...
• New Jersey Statutes 17:12B-305 Distribution of surplus
  The board of directors of the mutual state association holding company may, from time to time, by a majority vote of the directors, divide equitably ...
• New Jersey Statutes 17:12B-306 Retention of interest in assets
  Upon the formation of a mutual state association holding company pursuant to the provisions of this act, the members of the organizing mutual state association ...
• New Jersey Statutes 17:12B-307 Certificate of incorporation for subsidiary
  The directors of a mutual state association holding company which has been established pursuant to sections 7 through 15 of this act may apply to ...
• New Jersey Statutes 17:12B-308 Certificate of incorporation, affidavit to commissioner; contents of affidavit
  The certificate of incorporation of every subsidiary capital stock state association established pursuant to this act shall be submitted to the commissioner within 60 days ...
• New Jersey Statutes 17:12B-309 Charter approval
  If the commissioner determines that the qualifications, experience and character of the proposed officers and directors of the subsidiary capital stock state association are sufficient ...
• New Jersey Statutes 17:12B-310 Powers of stockholders, board of directors
  a. The stockholders of a subsidiary capital stock state association shall have the power to make, alter, and repeal bylaws. The directors of the mutual ...
• New Jersey Statutes 17:12B-311 Bylaws
  Bylaws shall not be made, altered, or repealed by the stockholders of a subsidiary capital stock state association, except at an annual or special meeting ...
• New Jersey Statutes 17:12B-312 Amendment of certificate of incorporation
  21. Whenever the board of directors of a subsidiary capital stock state association deems it advisable to amend the certificate of incorporation, it ...
• New Jersey Statutes 17:12B-313 Governance of subsidiary
  The annual meetings, voting rights of stockholders, liability of stockholders and the maintenance of a subsidiary capital stock state association's books and records shall be ...
• New Jersey Statutes 17:12B-314 Dividends
  A subsidiary capital stock state association may declare dividends on its capital stock pursuant to the provisions of section 30 of P.L.1974, c.137 (C.17:12B-259). L.1989,c.165,s.23. ...
• New Jersey Statutes 17:12B-315 Merger
  a. All other powers, rights, and privileges of a converted state association or a subsidiary capital stock state association not expressly provided for in this ...
• New Jersey Statutes 17:12B-316 Merger or purchase or retention of assets and assumption of liabilities
  a. A subsidiary capital stock state association may, pursuant to a plan of merger approved by the commissioner, merge with the organizing mutual state association ...
• New Jersey Statutes 17:12B-317 Alternative to formation of subsidiary
  As an alternative to the formation of a subsidiary capital stock state association pursuant to the provisions of sections 16 through 24 of this act, ...
• New Jersey Statutes 17:12B-318 Contents of amended certificate of incorporation
  In the event that the board of directors elects to follow the procedures provided in paragraph (2) of subsection c. of section 7 of this ...
• New Jersey Statutes 17:12B-319 Rules, regulations
  The commissioner may promulgate rules and regulations, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), as may be necessary to effectuate the ...
• New Jersey Statutes 17:13-72 Repeal
  Sections 17:13-1 to section 17:13-25 inclusive of the Revised Statutes are hereby repealed and all laws and parts of laws inconsistent with or repugnant to ...
• New Jersey Statutes 17:13-73 Corporate central credit union; membership; voting representatives
  A. One hundred or more credit unions operating under provisions of this act, or operating in this State under the provisions of the federal Credit ...
• New Jersey Statutes 17:13-73.1 Purposes of corporate central credit union; application of Credit Union Act of 1984
  The corporate central credit union shall subject to all parts of "The Credit Union Act of 1984," P.L.1984, c. 171, sections 2 to 46 (C. ...
• New Jersey Statutes 17:13-73.2 Powers
  The corporate central credit union shall have the power to: a. Accept shares or deposits from its members, other state, regional or national corporate credit ...
• New Jersey Statutes 17:13-73.3 Agreements; purposes
  The corporate central union may enter into agreements for the purpose of: a. Participating in any state or federal central liquidity facility or central financial ...
• New Jersey Statutes 17:13-73.4 Setoff against accounts of members; lien on accounts; security for loans
  The corporate central union shall have a right of immediate setoff against the balances of the share and deposit accounts of each member for any ...
• New Jersey Statutes 17:13-73.5 Meetings
  a. The board of the corporate central credit union shall meet at least every 30 days as provided in the bylaws. b. The annual meeting ...
• New Jersey Statutes 17:13-73.6 Reserve requirements
  The corporate central credit union shall be exempt from the regular reserve requirements of this act, but shall be required to establish and maintain a ...
• New Jersey Statutes 17:13-73.7 Exemption from insurance requirements of Credit Union Act of 1984
  The corporate credit union shall be exempt from the share and deposit insurance requirements of "The Credit Union Act of 1984," P.L.1984, c. 171 sections ...
• New Jersey Statutes 17:13-74 Conversion to or from a federal credit union
  A credit union organized under the provisions of this act may convert to operation as a Federal Credit Union, or a Federal Credit Union may ...
• New Jersey Statutes 17:13-75 Insurance; exception
  Within 1 year of the effective date of this act, every credit union incorporated under the act to which this act is a supplement shall, ...
• New Jersey Statutes 17:13-76 Failure to apply or denial of commitment for insurance; extension of time
  A credit union which has failed to apply or which has been denied a commitment for such insurance shall within 60 days of the denial ...
• New Jersey Statutes 17:13-77 Charter; necessity of insurance
  No credit union shall be granted a charter by the commissioner on or after the effective date of this act, unless the credit union has ...
• New Jersey Statutes 17:13-78 Reports of financial condition and examination reports
  The commissioner may make available reports of financial condition and examination reports to the National Credit Union Administration or to any qualified insuring organization and ...
• New Jersey Statutes 17:13-79 Short title
  Sections 2 through 46 of this act shall be known and may be cited as "The Credit Union Act of 1984." L.1984, c. 171, s. ...
• New Jersey Statutes 17:13-80 Definitions
  For the purposes of this act: a. "Board" means the board of directors of the credit union. b. "Commissioner" means the Commissioner of Banking. c. ...
• New Jersey Statutes 17:13-82 Disapproval of application; annexation; filing of certificate of approval.
  4. The commissioner shall disapprove the application if the commissioner finds that: a. The incorporation of the proposed credit ...
• New Jersey Statutes 17:13-83 Organizational meeting; notice
  The organizational meeting of the members of the credit union shall take place within ten days of the filing of the certificate of incorporation. A ...
• New Jersey Statutes 17:13-84 Affidavit of incorporators
  Before the commissioner may issue a certificate of authority, two of the incorporators shall submit an affidavit to the commissioner which attests to the following: ...
• New Jersey Statutes 17:13-85 Issuance of certificate of authority; transaction of business
  Within 30 days of receipt of the affidavit required by section 6 of this act, the commissioner shall issue a certificate of authority for the ...
• New Jersey Statutes 17:13-86 Amendment of certificate of incorporation; approval of commissioner
  a. A credit union may amend its certificate of incorporation in the following manner: (1) The board shall approve the proposed amendment and direct that ...
• New Jersey Statutes 17:13-87 Insurance of accounts; financial condition and examination reports
  a. No credit union shall be granted a charter on or after the effective date of this act unless the incorporators have obtained a commitment ...
• New Jersey Statutes 17:13-88 Name of credit union; unauthorized use of words "credit union" in name; penalty
  a. The name of every credit union incorporated under this act shall contain the words "Credit Union." No name shall be adopted by any credit ...
• New Jersey Statutes 17:13-89 Powers
  A credit union's powers shall include, but not be limited to, the power to: a. Make contracts; b. Sue and be sued; c. Adopt and ...
• New Jersey Statutes 17:13-90 Powers of commissioner.
  12. The commissioner shall have the power to make, amend and repeal regulations permitting credit unions to exercise any power, right, benefit, ...
• New Jersey Statutes 17:13-91 Change of location of office; facilities for meetings or services
  a. A credit union may change the location of its office by resolution of the board. A copy of the resolution, attested by the secretary, ...
• New Jersey Statutes 17:13-92 Membership of credit union; regulations.
  14. a. The membership of a credit union shall be limited to and consist of the incorporators and other persons that are members ...
• New Jersey Statutes 17:13-92.1 Credit unions approved for inclusion of more than one group; continuation permitted.
  5. A credit union that has been approved to include more than one group within its field of membership prior to the ...
• New Jersey Statutes 17:13-93 Meetings; vote of members; quorum
  a. The annual meeting of the members of the credit union shall be held on a date to be designated by the board for the ...
• New Jersey Statutes 17:13-94 Bylaws; approval of commissioner
  Every credit union shall, by majority vote of its members, adopt bylaws consistent with the laws of this State. The bylaws may be amended from ...
• New Jersey Statutes 17:13-95 Board of directors; membership; vacancy; meetings
  The credit union shall be directed by a board consisting of an odd number of directors, not less than five in number, who shall be ...
• New Jersey Statutes 17:13-96 Chairman of board; officers; compensation; bond of officers; duties
  The board of directors or the members, as provided by the bylaws, shall elect a chairman, who shall be a member of the board, a ...
• New Jersey Statutes 17:13-97 Executive committee of board; powers; limitations; minutes
  a. The board may appoint an executive committee of the board, consisting of not less than three directors, which may be authorized to act for ...
• New Jersey Statutes 17:13-98 Examining committee; members; audit or examination of credit union
  The members of each credit union shall elect an examining committee, composed of at least three members, none of whom shall be officers, directors, or ...
• New Jersey Statutes 17:13-99 Special meeting called by examining committee; suspension of officer or member
  a. The examining committee may, by a majority vote of its members, call a special meeting of the members to consider any violation of this ...
• New Jersey Statutes 17:13-100 Credit committee
  22. a. If the bylaws provide for a credit committee, then pursuant to the provisions of the bylaws, the board shall appoint, or the members ...
• New Jersey Statutes 17:13-101 Issuance of shares and certificates; deposits; accounts offered; trustee or custodian of accounts and funds; payment of dividends
  a. A credit union shall issue shares and share certificates, which shall constitute the capital of the credit union. Shares may be subscribed to, paid ...
• New Jersey Statutes 17:13-102 Minors; transactions; membership privileges
  a. Shares, share certificates, and deposit certificates may be issued to, and deposits received from, a minor who may withdraw the shares and deposits, including ...
• New Jersey Statutes 17:13-103 Withdrawal of funds for payment; nonmembers; retirement of shares
  a. Shares, share certificates, deposits and deposit certificates of a credit union may be withdrawn for payment to the account holder or to third parties ...
• New Jersey Statutes 17:13-104 Loans to members; security; interest; fees; lien on accounts
  a. A credit union may make loans to its members, evidenced by a written instrument, upon terms and upon any security, including, but not limited ...
• New Jersey Statutes 17:13-105 Manner of payment of loans to members
  Loans made by credit unions may be payable to the members in a lump sum or in installments, of the following types: a. Loans to ...
• New Jersey Statutes 17:13-106 Credit to director, officer, employee, or committee member; participation in determination of question of interest
  a. No credit union may extend credit to any member of the board, any officer, or member of a committee or to any related interest ...
• New Jersey Statutes 17:13-107 Investment of funds
  Funds not used in loans to members may be invested: a. In securities, obligations, or other instruments of or issued by or fully guaranteed as ...
• New Jersey Statutes 17:13-108 Inactive accounts; special reserve accounts; escheat of funds
  When no transaction has occurred in a member's share or deposit account for 12 months and his whereabouts are unknown, as verified by the return ...
• New Jersey Statutes 17:13-109 Gross earnings; reserve funds; contributions; regulation of reserve requirements
  a. Immediately before the payment of each dividend, the gross earnings of the credit union shall be determined, and from this amount there shall be ...
• New Jersey Statutes 17:13-110 Merger of credit unions
  a. Any credit union may, with the approval of the commissioner, merge with another credit union under the existing charter of the continuing credit union, ...
• New Jersey Statutes 17:13-111 Annual report by credit union; violations, penalties.
  33. Every credit union shall submit a report in writing to the commissioner of its condition at the close of business on the ...
• New Jersey Statutes 17:13-112 Supervision and examination by commissioner; exhibition of papers and documents; subpenas; perjury
  a. Every credit union shall be subject to the supervision and examination of the commissioner. In lieu of making an examination of a credit union, ...
• New Jersey Statutes 17:13-113 Expenses of examination
  Every credit union examined by the commissioner shall pay the actual expenses of the examination, and the commissioner may maintain an action against any credit ...
• New Jersey Statutes 17:13-114 Discontinuation of illegal activity; order
  If it appears to the commissioner that any credit union has violated its certificate of incorporation, bylaws, or any law of this State, or if ...
• New Jersey Statutes 17:13-115 Violation of law, unauthorized actions, or refusal to be examined; institution of court action for possession
  Whenever it appears to the commissioner: a. That a credit union has violated its charter or any law of this State; or b. That a ...
• New Jersey Statutes 17:13-116 Injunctions; receivers; other relief or correction
  In any action instituted in the Superior Court pursuant to section 37 of this act, the court may enjoin the credit union from the transaction ...
• New Jersey Statutes 17:13-117 Possession by commissioner of property and business; dissolution of credit union; trustees in dissolution
  Whenever the commissioner shall take possession of the property and business of a credit union pursuant to section 37 of this act, he shall retain ...
• New Jersey Statutes 17:13-118 Continuation of business by commissioner; authority and powers
  Upon taking possession of the property and business of a credit union, the commissioner may, pending the return of its property and business to the ...
• New Jersey Statutes 17:13-119 Assistant deputy commissioners; employment of counsel and other expert assistance; powers on receivership of commissioner and members
  The commissioner may, under his hand and official seal, appoint one or more special assistant deputy commissioners as agent or agents to assist him in ...
• New Jersey Statutes 17:13-120 Notice of possession of business and property by commissioner; stay of levies and executions
  Upon taking possession of the property and business of any credit union, the commission shall give notice of this fact to all banks, trust companies, ...
• New Jersey Statutes 17:13-121 Grievance with action of commissioner; court proceedings for injunction
  Whenever any credit union or a member thereof deems itself or himself aggrieved by the commissioner's taking possession of that credit union, that credit union ...
• New Jersey Statutes 17:13-122 Voluntary dissolution; liquidation; notice to authorities; suspension of activities; approval of members; wind-up of affairs; distribution of assets; certificate of dissolution
  a. A credit union may elect to dissolve voluntarily and liquidate its affairs in the manner prescribed in this section. b. The board shall adopt ...
• New Jersey Statutes 17:13-123 Conversion to or from a federal credit union
  A credit union organized under the provisions of this act may convert to operation as a federal Credit Union, or a federal Credit Union may ...
• New Jersey Statutes 17:13-124 Credit union advisory council
  a. A Credit Union Advisory Council is created which shall consult with, advise, and make recommendations to the commissioner on matters pertaining to the chartering, ...
• New Jersey Statutes 17:13-125 Rules and regulations
  The commissioner shall promulgate any rules and regulations which he deems necessary to effectuate the purposes of this act. L.1984, c. 171, s. 57, eff. ...
• New Jersey Statutes 17:13A-1 Application of act
  This act applies to advertisements made in connection with loans which are payable in installments and upon which interest is (a) received in advance, or ...
• New Jersey Statutes 17:13A-2 Definitions
  As used in this act, (a) "person" means an individual, a corporation, a partnership and every other organized group of persons; (b) "loan" means a ...
• New Jersey Statutes 17:13A-3 Requirements
  No advertisement made or caused to be made by a lender shall contain any statement making reference to or setting forth a stated rate or ...
• New Jersey Statutes 17:13A-4 Violation
  Any lender who willfully violates the provisions of section 3 of this act shall be a disorderly person. L.1965, c. 169, s. 4. ...
• New Jersey Statutes 17:13A-5 Citation
  This act may be cited as the "Installment Loan Rate Advertising Act." L.1965, c. 169, s. 5. ...
• New Jersey Statutes 17:13B-1 Short title
  This act shall be known as "The State Bank Parity Act" . L.1981, c. 4, s. 1, eff. Jan. 23, 1981. ...
• New Jersey Statutes 17:13B-2 Depository institutions, rate of interest, other charges, fees on loans, authorized.
  2. Notwithstanding any provisions of R.S.31:1-1 or any other statute to the contrary, any bank, savings bank, savings and loan association or ...
• New Jersey Statutes 17:14A-1 Definitions
  As used in this chapter: a. "Commissioner" means the Commissioner of Banking of New Jersey; b. "Department" means the Department of Banking of New Jersey; ...
• New Jersey Statutes 17:14A-2 Applicability of chapter
  This chapter shall apply to all corporations organized prior to and after the effective date of this chapter. L.1983, c. 566, s. 17:14A-2. ...
• New Jersey Statutes 17:14A-3 Carrying on safe deposit business
  A corporation organized under any law other than this chapter shall not be authorized to carry on a safe deposit business, but this section shall ...
• New Jersey Statutes 17:14A-4 Use of words "safe deposit"
  A corporation organized under any law other than this chapter shall not use the words "safe deposit" as part of its name. L.1983, c. 566, ...
• New Jersey Statutes 17:14A-5 Reservation of power
  This chapter may be supplemented, altered, amended or repealed by the Legislature, and every corporation to which this chapter applies shall be bound thereby. L.1983, ...
• New Jersey Statutes 17:14A-6 Incorporators
  Any five or more persons who are residents of this State, hereinafter referred to as incorporators, may associate to form a corporation for the purposes ...
• New Jersey Statutes 17:14A-7 Certificate of incorporation
  The incorporators shall personally sign and prove or acknowledge as is required for deeds of real estate, a certificate of incorporation, which shall state: a. ...
• New Jersey Statutes 17:14A-8 Original bylaws
  The original bylaws of the corporation shall be adopted by the incorporators. L.1983, c. 566, s. 17:14A-8. ...
• New Jersey Statutes 17:14A-9 Application to commissioner for approval; notice of hearing
  The certificate of incorporation and the bylaws shall be submitted to the commissioner for his approval. Within 10 days thereafter, the commissioner shall give written ...
• New Jersey Statutes 17:14A-10 Publishing notice of application and hearing by incorporators
  The incorporators shall give public notice of the application and of the time and place designated by the commissioner for the hearing thereon, by publishing ...
• New Jersey Statutes 17:14A-11 Mailing copy of notice to other companies; request to commissioner to furnish names
  The incorporators shall also mail or cause to be mailed, at least three weeks prior to the time designated for the hearing, a copy of ...
• New Jersey Statutes 17:14A-12 Hearing; examination or investigation by commissioner
  At the hearing on the application to approve the certificate of incorporation or at any adjournment granted by the commissioner, anyone desiring to be heard ...
• New Jersey Statutes 17:14A-13 Commissioner's findings
  The commissioner shall approve the application and issue a certificate of approval which shall be endorsed upon or annexed to the certificate of incorporation if ...
• New Jersey Statutes 17:14A-14 Commissioner's decision
  Within 30 days after the close of the hearing, the commissioner shall announce his decision upon such application and file in his office, a written ...
• New Jersey Statutes 17:14A-15 Filing certificate of incorporation as evidence
  If the application is approved by the commissioner, he shall endorse upon or annex to the certificate of incorporation a certificate of approval and the ...
• New Jersey Statutes 17:14A-16 Beginning of corporate existence; transaction of business
  Upon the filing of the certificate of incorporation as provided in R.S. 17:14A-15, the subscribers to the certificate, their successors and assigns, shall be a ...
• New Jersey Statutes 17:14A-17 Payment of capital; filing proof with commissioner
  The full amount of capital shall be paid in, in cash, before a safe deposit company transacts any business, except that which relates to its ...
• New Jersey Statutes 17:14A-18 Certificate of authority to transact business
  The commissioner shall issue a certificate of authority to a safe deposit company in which it shall be stated that the safe deposit company therein ...
• New Jersey Statutes 17:14A-19 Time within which to issue certificate or notify company of refusal
  The commissioner shall, within 30 days after receipt of the company's certificate of incorporation and the verified certificate certifying as to the payment of capital, ...
• New Jersey Statutes 17:14A-20 Review of refusal to issue certificate of authority
  The commissioner's failure to issue the certificate of authority or to notify the company in writing of his reasons for refusal to issue the certificate ...
• New Jersey Statutes 17:14A-21 Dissolution for failure to obtain certificate of authority or commence business
  If a safe deposit company shall fail to obtain a certificate of authority within six months from the date of the commissioner's approval of its ...
• New Jersey Statutes 17:14A-22 Tolling of time to obtain certificate of authority or commence business
  If proceedings are instituted to review the commissioner's approval of an application to file a certificate of incorporation or to review the commissioner's failure to ...
• New Jersey Statutes 17:14A-23 Powers
  In addition to the powers conferred by Title 14A of the New Jersey Statutes, Corporations, General, so far as they are not inconsistent with the ...
• New Jersey Statutes 17:14A-24 Directors; number; election; term
  The affairs of a safe deposit company shall be managed by a board of at least five directors elected by the stockholders of the company ...
• New Jersey Statutes 17:14A-25 Directors; voting rights of stockholders
  At a meeting of stockholders for the election of directors, a stockholder shall be entitled to one vote for each share of stock owned. A ...
• New Jersey Statutes 17:14A-26 Directors; oath
  Each director shall, following his election and before the assumption of any duties as a director, take an oath that he will, so far as ...
• New Jersey Statutes 17:14A-27 Bonding of directors, officers and employees
  Every safe deposit company shall, at its own expense, cause to be bonded, by a surety company or companies authorized to transact business in New ...
• New Jersey Statutes 17:14A-28 Bonding of directors, officers and employees; waiver
  If a safe deposit company is unable to obtain the bond or bonds required by R.S. 17:14A-27, the commissioner may, in his discretion, waive the ...
• New Jersey Statutes 17:14A-29 Branch offices; capital requirements; location
  A safe deposit company may, pursuant to a resolution of its board of directors and by an amendment to its certificate of incorporation to increase ...
• New Jersey Statutes 17:14A-30 Branch offices; application, approval
  Before a branch office shall be established, the safe deposit company shall file a written application in the department for the commissioner's approval. The commissioner ...
• New Jersey Statutes 17:14A-31 Branch offices; failure to open and operate
  The failure of a safe deposit company to open and operate a branch office within six months after the commissioner approves the application therefor shall ...
• New Jersey Statutes 17:14A-32 Branch offices; discontinuance
  By resolution of its board of directors, a safe deposit company may discontinue a branch office. Upon adoption of the resolution, the safe deposit company ...
• New Jersey Statutes 17:14A-33 Change of principal or branch office; application
  A safe deposit company may change the location of its principal office or of a branch office to a location by filing an application in ...
• New Jersey Statutes 17:14A-34 Change of principal or branch office; approval
  The commissioner shall approve the application for a change of location of the principal office of a safe deposit company or a branch office if ...
• New Jersey Statutes 17:14A-35 Merger
  Any safe deposit company may, with the approval of the commissioner, merge with any other safe deposit company, bank, savings bank or savings and loan ...
• New Jersey Statutes 17:14A-36 Merger agreement; authorization
  The boards of directors of each company proposing to merge shall authorize the execution of a merger agreement which shall contain: a. The names of ...
• New Jersey Statutes 17:14A-37 Consolidation
  Any two or more safe deposit companies may, with the approval of the commissioner, consolidate into a new company as hereinafter provided. L.1983, c. 566, ...
• New Jersey Statutes 17:14A-38 Consolidation plan; authorization
  The boards of directors of each safe deposit company proposing to consolidate into a new company shall authorize the execution of a plan of consolidation ...
• New Jersey Statutes 17:14A-39 Approval or disapproval of merger agreement or consolidation plan by commissioner
  The merger agreement or consolidation plan, executed by all the parties thereto, shall be submitted to the commissioner who shall, within 60 days from the ...
• New Jersey Statutes 17:14A-40 Review of commissioner's disapproval of merger agreement or consolidation plan
  The commissioner's disapproval of a merger agreement or consolidation plan, as provided in R.S. 17:14A-39, shall be subject to review by appeal to the Appellate ...
• New Jersey Statutes 17:14A-41 Submission of merger agreement or consolidation plan to stockholders
  If the commissioner approves the merger agreement or consolidation plan, or if the merger agreement or consolidation plan is approved after review as provided in ...
• New Jersey Statutes 17:14A-42 Approval by stockholders; filing agreement or plan
  If the merger agreement or consolidation plan is approved by the affirmative vote of 2/3 of the stockholders of each company, that fact shall be ...
• New Jersey Statutes 17:14A-43 Merger agreement or consolidation plan as evidence
  A copy of the merger agreement or consolidation plan, certified by the commissioner, shall be evidence in all courts and places. L.1983, c. 566, s. ...
• New Jersey Statutes 17:14A-44 Recording copy of merger agreement or consolidation plan with county recording officer
  A copy of the merger agreement or consolidation plan, certified by the commissioner, may be recorded in the office of the county recording officer charged ...
• New Jersey Statutes 17:14A-45 Effect of merger or consolidation
  Upon the merger or consolidation of two or more safe deposit companies: a. The parties to the merger agreement or plan of consolidation shall be ...
• New Jersey Statutes 17:14A-46 Merger or consolidation; issuance of new stock certificates
  A surviving company or the new company resulting from a merger or consolidation shall require each stockholder of a company participating in a merger or ...
• New Jersey Statutes 17:14A-47 Liability of stockholders
  The holders of shares of capital stock of a safe deposit company shall not be liable, by reason of their owning the stock, for any ...
• New Jersey Statutes 17:14A-48 Language in rental agreement
  An agreement for the rental of vaults, safe deposit boxes, and other receptacles for the storage and safekeeping of personal property shall be written in ...
• New Jersey Statutes 17:14A-49 Notice to lessee as to insurance and contents of vaults, etc.
  An agreement for the rental vaults, safe deposit boxes or other receptacles for the storage and safekeeping of personal property shall contain language in bold ...
• New Jersey Statutes 17:14A-50 Books and records
  A safe deposit company shall keep and maintain all books and records required by law and in addition thereto shall keep and maintain all books ...
• New Jersey Statutes 17:14A-51 Proceedings for unpaid rental
  17:14A-51. If the amount due for the rental of any vault, safe deposit box or receptacle for the storage and safekeeping of personal property of ...
• New Jersey Statutes 17:14A-52 Accessibility to vault, safe deposit box or receptacle
  The right of access to a vault, safe deposit box or receptacle rented to a lessee by a safe deposit company shall be governed by ...
• New Jersey Statutes 17:14A-53 Control of safe deposit company
  It shall be unlawful for any person or company, except with the approval of the commissioner, to acquire control of a safe deposit company incorporated ...
• New Jersey Statutes 17:14A-54 Control of safe deposit company; "control" defined
  As used in R.S. 17:14A-53, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and ...
• New Jersey Statutes 17:14A-55 Control of safe deposit company; "company" defined
  As used in R.S. 17:14A-53, "company" means a corporation, joint stock company, business trust, investment trust, general or limited partnership, voting trust, association, and any ...
• New Jersey Statutes 17:14A-56 Control of safe deposit company; application to commissioner
  A person or company seeking to acquire control of a safe deposit company shall file a written application therefor with the commissioner which shall be ...
• New Jersey Statutes 17:14A-57 Control of safe deposit company; investigation by commissioner
  After the filing of the application as provided in R.S. 17:14A-56, the commissioner shall conduct an investigation to determine whether: a. The acquisition of control ...
• New Jersey Statutes 17:14A-58 Control of safe deposit company; approval or disapproval of application
  The commissioner shall notify the applicant in writing of his approval or disapproval of the application to acquire control within 90 days after its filing ...
• New Jersey Statutes 17:14A-59 Control of safe deposit company; review of commissioner's disapproval
  The commissioner's disapproval of an application to acquire control of a safe deposit company shall be subject to review by appeal in the Appellate Division ...
• New Jersey Statutes 17:14A-60 Communications received from the commissioner
  Every official communication directed to and received by a safe deposit company or any of its officers or directors shall be submitted to the board ...
• New Jersey Statutes 17:14A-61 Examination of safe deposit company affairs; by whom made
  The board of directors of a safe deposit company shall have an examination of the company's affairs made, from time to time, by or under ...
• New Jersey Statutes 17:14A-62 Examination of safe deposit company affairs; scope
  The scope of examinations made as required by R.S. 17:14A-61 shall be as determined by regulations of the commissioner or, in the absence of regulations, ...
• New Jersey Statutes 17:14A-63 Examination of safe deposit company affairs; when made
  An examination pursuant to R.S. 17:14A-61 shall be made at least once in each calendar year and shall be commenced not less than six months ...
• New Jersey Statutes 17:14A-64 Examination of safe deposit company affairs; report; statement by directors; filing
  Within 60 days after completion of an examination made pursuant to R.S. 17:14A-61, a report thereof, in a form prescribed by the commissioner, certified by ...
• New Jersey Statutes 17:14A-65 Examination of safe deposit company affairs; curtailment or extension of time by commissioner
  The commissioner shall have power, for good cause shown, to curtail the six-month period, and to extend the 15-month period specified in R.S. 17:14A-63 for ...
• New Jersey Statutes 17:14A-66 Reports to commissioner as to assets and liabilities
  A safe deposit company shall make and file with the commissioner, in the form prescribed by the commissioner, periodic reports as the commissioner may from ...
• New Jersey Statutes 17:14A-67 Special reports as to condition of company
  The commissioner shall have the power to call for special reports from a safe deposit company when, in his judgment, a special report is necessary ...
• New Jersey Statutes 17:14A-68 Penalty for failure to make and file report
  A safe deposit company which fails to make and file a report as required pursuant to R.S. 17:14A-66 and R.S. 17:14A-67 shall be subject to ...
• New Jersey Statutes 17:14A-69 Publication of report
  A summary of each report filed pursuant to R.S. 17:14A-66, in a form prescribed by the commissioner, shall be published by the safe deposit company ...
• New Jersey Statutes 17:14A-70 Examination of safe deposit companies by commissioner
  The commissioner shall, whenever and as often as he shall deem it advisable, cause the affairs of every safe deposit company to be examined to ...
• New Jersey Statutes 17:14A-71 Examination of safe deposit companies by commissioner; examination of witnesses
  The commissioner, a deputy commissioner, and every examiner assigned by the commissioner or by a deputy commissioner to examine the affairs of a company may ...
• New Jersey Statutes 17:14A-71.1 Examinations confidential
  Every report and copy of a report of examination of a safe deposit company made by or under the supervision of the commissioner shall be ...
• New Jersey Statutes 17:14A-71.2 Examinations confidential; evidence; subpenas
  Every report and copy of a report of examination of a safe deposit company made by or under the supervision of the commissioner shall not ...
• New Jersey Statutes 17:14A-72 Commissioner's powers on ultra vires, unlawful and unsafe practices
  If the commissioner finds that a safe deposit company is violating the provisions of its certificate of incorporation, or is conducting its business in violation ...
• New Jersey Statutes 17:14A-73 Review of commissioner's order to cease ultra vires, unlawful or unsafe practices
  An order of the commissioner made pursuant to R.S. 17:14A-72 shall be subject to review by appeal to the Appellate Division of the Superior Court. ...
• New Jersey Statutes 17:14A-74 Penalty for failure to comply with commissioner's order as to ultra vires, unlawful and unsafe practices
  A safe deposit company which continues to violate the provisions of its certificate of incorporation or which continues to conduct its business in violation of ...
• New Jersey Statutes 17:14A-75 Removal of director or officer
  Whenever, in the opinion of the commissioner, any director or officer of a safe deposit company has and continues to violate any law relating to ...
• New Jersey Statutes 17:14A-76 Participation in management of company after removal from office
  Any director or officer who, after service upon him of a copy of the order removing him from office, participates in any manner in the ...
• New Jersey Statutes 17:14A-77 Record of proceedings to remove director or officer not to be made public; exception
  No part of the record of any proceedings under R.S. 17:14A-75 shall be made public or disclosed to anyone except the director or officer involved ...
• New Jersey Statutes 17:14A-77.1 Review of commissioner's order to remove director or officer
  An order by the commissioner made pursuant to R.S. 17:14A-75 shall be subject to review by appeal to the Appellate Division of the Superior Court. ...
• New Jersey Statutes 17:14A-78 Costs of examination of safe deposit company
  Every safe deposit company shall pay to the commissioner for the use of the State the reasonable costs of each examination of its affairs made ...
• New Jersey Statutes 17:14A-79 Filing documents and reports
  All documents and reports which are required to be filed by a corporation pursuant to the provisions of Title 14A, Corporations, General, of the New ...
• New Jersey Statutes 17:14A-80 Custodial possession by commissioner; causes
  The commissioner shall have the authority to institute an action in the Superior Court to take custodial possession of the property of any safe deposit ...
• New Jersey Statutes 17:14A-81 Custodial possession by commissioner; purpose
  Possession by the commissioner shall be for the sole purpose of serving as a custodian of the safe deposit company until the lessees of the ...
• New Jersey Statutes 17:14A-82 Custodial possession by commissioner; return of property to management of safe deposit company
  If and when the commissioner determines that the cause or causes for his taking custodial possession of a safe deposit company have been removed or ...
• New Jersey Statutes 17:14A-83 Custodial possession by commissioner; corporate title and existence
  Notwithstanding the taking of custodial possession of the property of a safe deposit company by the commissioner: a. Title to all the property of the ...
• New Jersey Statutes 17:14A-84 Custodial possession by commissioner; notice to commissioner
  A safe deposit company shall immediately notify the commissioner in writing of any of the actions or proceedings set forth in subsections a. through e. ...
• New Jersey Statutes 17:14A-85 Custodial possession by commissioner; surety bond
  A safe deposit company shall file and keep on file with the commissioner a surety bond obtained from a surety company authorized to transact business ...
• New Jersey Statutes 17:14A-86 Standards for vaults
  Vaults shall have walls, floors and ceiling of reinforced concrete at least 12 inches in thickness constructed as follows: a. Two grids of #5 ( ...
• New Jersey Statutes 17:14A-87 Standards for vault doors
  Vault doors shall be made of steel at least 3 1/2 inches in thickness, or other drill and torch resistant material, and be equipped with ...
• New Jersey Statutes 17:14A-88 Standards for safes
  A safe shall weigh at least 750 pounds empty, or be securely anchored to the premises where located. The body shall consist of steel, at ...
• New Jersey Statutes 17:14A-89 Safe deposit box standards
  A safe deposit box used to store and safeguard a lessee's personal property shall be enclosed in a vault or safe meeting the minimum standards ...
• New Jersey Statutes 17:14A-90 Surveillance systems
  A surveillance system shall be provided for each office of a safe deposit company which shall: a. Be equipped with one or more photographic, recording, ...
• New Jersey Statutes 17:14A-91 Robbery alarm systems
  A robbery alarm system shall be provided for each office of a safe deposit company at which the police ordinarily can arrive within five minutes ...
• New Jersey Statutes 17:14A-92 Burglary alarm systems
  A burglary alarm system shall be provided for each office of a safe deposit company. Burglary alarm systems shall be: a. Capable of detecting promptly ...
• New Jersey Statutes 17:14A-93 Notice of crime
  The board of directors of a safe deposit company shall promptly notify the commissioner of any crime committed or attempted to be committed against the ...
• New Jersey Statutes 17:14A-94 Rules and regulations
  In addition to other powers and duties vested in him by this chapter or by any other law, the commissioner is authorized and empowered to ...
• New Jersey Statutes 17:14A-95 Dissolution
  A safe deposit company may be dissolved in the manner provided by chapter 12 of Title 14A, Corporations, General of the New Jersey Statutes, except ...
• New Jersey Statutes 17:14A-96 Filing fees
  A safe deposit company shall pay to the commissioner for the use of the State: a. For filing an application for charter ...... $2,500.00 b. ...
• New Jersey Statutes 17:14A-97 Statutes repealed
  The following are repealed: R.S. 17:14-1 to R.S. 17:14-8 inclusive. L.1983, c. 566, s. 17:14A-97. ...
• New Jersey Statutes 17:15A-30 Short title
  1. This act shall be known and may be cited as "The Check Cashers Regulatory Act of 1993." L.1993,c.383,s.1. ...
• New Jersey Statutes 17:15A-31 Definitions.
  2. As used in this act: "Applicant" means a person who has applied or is in the process of applying ...
• New Jersey Statutes 17:15A-32 License required
  3. No person shall cash a check for a fee unless that person has a license. The license shall not be transferable or assignable. L.1993,c.383,s.3. ...
• New Jersey Statutes 17:15A-32.1 Sale of check cashing business.
  1. a. A person who is conducting business as a check casher pursuant to P.L.1993, c.383 (C.17:15A-30 et seq.), whose license was continued ...
• New Jersey Statutes 17:15A-33 Application for licensure; requirements
  4. Any person wishing to be licensed to cash checks for a fee shall: a. Submit to the commissioner a completed written application on forms ...
• New Jersey Statutes 17:15A-34 Approval of application
  5. The commissioner shall approve an application for a license if: a. The applicant has complied with the requirements of section 4 of this act; ...
• New Jersey Statutes 17:15A-35 Contents of application.
  6. The application for a license shall include, but not be limited to, the following: a. The name, age, ...
• New Jersey Statutes 17:15A-36 Fingerprinting, background checks for licensees
  7. Each director, substantial stockholder, officer, owner, partner, manager, and employee in the check cashing business of a licensee shall submit to being fingerprinted on ...
• New Jersey Statutes 17:15A-37 Required capital, net worth, liquid assets.
  8. An applicant shall prove, in a manner and form satisfactory to the commissioner, that the applicant has available for the operation ...
• New Jersey Statutes 17:15A-38 Licensee to engage services of public accountant
  9. a. Each applicant shall engage and each licensee shall maintain the services of a public accountant, which accountant shall assist the licensee to maintain ...
• New Jersey Statutes 17:15A-39 License required for operation, conditions
  10. No applicant for a license shall commence operations until a license has been issued. The commissioner shall not issue a license unless the following ...
• New Jersey Statutes 17:15A-40 Valid license, civil actions.
  11. a. A license shall be valid until surrendered by the licensee, or unless revoked or suspended pursuant to this act. ...
• New Jersey Statutes 17:15A-41 Maintenance of offices by licensee; requirements
  12. a. Except as provided in subsections b., c. and d. of this section, a licensee shall have and maintain a single office at one ...
• New Jersey Statutes 17:15A-42 Approval required for sale, transfer of business
  13. Any sale or transfer of a controlling interest in a licensee's or applicant's check cashing business shall be approved by the commissioner prior to ...
• New Jersey Statutes 17:15A-43 Fees permitted.
  14. No licensee shall charge a fee or receive any other consideration, directly or indirectly, which is greater than the amount permitted ...
• New Jersey Statutes 17:15A-44 Responsibilities of licensee.
  15. A licensee shall: a. Conspicuously display at each office, limited branch office or mobile office it operates the ...
• New Jersey Statutes 17:15A-45 Annual report by check cashing business; violations, penalties.
  16. Each licensee shall annually file a report with the commissioner giving the information the commissioner may require concerning its check cashing business ...
• New Jersey Statutes 17:15A-46 Right to examine books, records
  17. The department shall have the right to examine the books and records, and the place or places of business of any licensee. The reasonable ...
• New Jersey Statutes 17:15A-47 Prohibitions for licensees
  18. No licensee, or any person acting on behalf of a licensee, shall: a. Cash a check which is made payable to a payee which ...
• New Jersey Statutes 17:15A-48 Revocation, suspension of license.
  19. a. Except as provided in subsection c. of this section, the commissioner may revoke or suspend a license if, after notice and ...
• New Jersey Statutes 17:15A-49 Violations, penalties.
  20. a. Any person who knowingly cashes a check for consideration without having first obtained a license as required by section 3 of ...
• New Jersey Statutes 17:15A-50 Compliance of existing licensees; nonapplicability of act.
  21. a. Any person holding a license in good standing issued pursuant to "The Check Cashing Law," P.L.1951, c.187 (C.17:15A-1 et seq.), and ...
• New Jersey Statutes 17:15A-51 Waivers unenforceable, void
  22. Any agreement to waive any requirement contained in this act shall be unenforceable and void. L.1993,c.383,s.22. ...
• New Jersey Statutes 17:15A-52 Rules, regulations.
  23. a. The commissioner shall promulgate rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate ...
• New Jersey Statutes 17:15C-1 Short title.
  1. This act shall be known and may be cited as the "New Jersey Money Transmitters Act." L.1998,c.14,s.1. ...
• New Jersey Statutes 17:15C-2 Definitions relative to money transmitters.
  2. As used in this act: "Applicant" means a person filing an application for a license under this act. ...
• New Jersey Statutes 17:15C-3 Inapplicability of act; exemptions.
  3. a. This act shall not apply to: (1) The United States or any department, agency, or instrumentality thereof; ...
• New Jersey Statutes 17:15C-4 License required.
  4. a. No person, other than a person exempt from the provisions of this act pursuant to section 3, shall engage in the ...
• New Jersey Statutes 17:15C-5 Net worth requirements for licensees.
  5. a. (1) Except as provided pursuant to paragraph (2) of this subsection a., for a person licensed to engage in business in ...
• New Jersey Statutes 17:15C-6 Possession of security device, permissible investments.
  6. a. Each licensee shall at all times possess a surety bond, irrevocable letter of credit or such other similar security device acceptable ...
• New Jersey Statutes 17:15C-7 Application for license; requirements.
  7. Each application for a license shall be made in writing, under oath, and in a form prescribed by the commissioner. Each ...
• New Jersey Statutes 17:15C-8 Accompaniment of application with security device; amounts required; conditions.
  8. a. (1) Except as provided pursuant to paragraph (2) of this subsection a., each application shall be accompanied by a surety bond, ...
• New Jersey Statutes 17:15C-9 Investigation of applicants for licensing, renewal; licensing period.
  9. a. Upon the filing of a complete application, in the case of an initial application, or the filing of a complete renewal ...
• New Jersey Statutes 17:15C-10 Keeping of records required.
  10. a. Each licensee, shall make, keep and preserve the following books, accounts and other records for a period of three years: ...
• New Jersey Statutes 17:15C-11 Investigation, examination of license.
  11. a. The commissioner may investigate and examine any licensee or other person the commissioner deems necessary to determine compliance with this act ...
• New Jersey Statutes 17:15C-12 Annual reports; violations, penalties.
  12. a. Each licensee shall file with the commissioner an annual report containing the information required by the commissioner by regulation. ...
• New Jersey Statutes 17:15C-13 Written report required upon occurrence of certain events.
  13. Within 15 days of the occurrence of any one of the events listed below, a licensee shall file a written report ...
• New Jersey Statutes 17:15C-14 Approval for acquisition of control of licensee; application, fee.
  14. a. A person shall not directly or indirectly acquire control of a licensee without the prior written approval of the commissioner. The ...
• New Jersey Statutes 17:15C-15 Confidentiality of information, reports.
  15. a. Notwithstanding any other provision of law, all information or reports obtained by the department from an applicant, licensee or authorized delegate, ...
• New Jersey Statutes 17:15C-16 Suspension, revocation of license.
  16. After notice and hearing pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), the commissioner may suspend or revoke ...
• New Jersey Statutes 17:15C-17 Authorization of delegates.
  17. Licensees desiring to conduct licensed activities through authorized delegates shall authorize each delegate to operate pursuant to an express written contract, ...
• New Jersey Statutes 17:15C-18 Regulations pertinent to delegates.
  18. a. An authorized delegate shall not make any fraudulent or false statement or misrepresentation to a licensee or to the commissioner. ...
• New Jersey Statutes 17:15C-19 Violations by delegates; issuance of order suspending, barring; application for modification, rescission.
  19. a. If, after notice and a hearing, the commissioner finds that any authorized delegate of a licensee or any director, officer, employee, ...
• New Jersey Statutes 17:15C-20 Limitation of licensee's responsibility.
  20. A licensee's responsibility to any person for a money transmission conducted on that person's behalf by the licensee or the licensee's ...
• New Jersey Statutes 17:15C-21 Applicability of APA.
  21. The provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) shall apply to any hearing afforded pursuant to this ...
• New Jersey Statutes 17:15C-22 Violations, penalties.
  22. a. If, after notice and hearing, the commissioner finds that a person has violated any provision of this act or a rule ...
• New Jersey Statutes 17:15C-23 Powers of commissioner.
  23. a. If it appears to the commissioner that any person has committed or is about to commit a violation of any provision ...
• New Jersey Statutes 17:15C-24 Violations designated fourth, third degree crimes.
  24. a. Any person who knowingly and willfully violates any provision of this act for which a penalty is not specifically provided is ...
• New Jersey Statutes 17:15C-25 Regulations.
  25. The commissioner shall promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the provisions ...
• New Jersey Statutes 17:15C-26 Presumptions regarding licensees, delegates; service of process.
  26. a. Any licensee, authorized delegate or other person who engages in business activities that are regulated under this act, with or without ...
• New Jersey Statutes 17:15C-27 Application required for those currently doing business; status of current licensees.
  27. a. Every person engaged in activities within this State encompassed by this act on the effective date of this act, except those ...
• New Jersey Statutes 17:16A-1 Definitions
  As used in this chapter a. "Investment company" means any corporation, foreign or domestic, any partnership or any individual which engages principally in an investment ...
• New Jersey Statutes 17:16A-2 Compliance with law before doing business; liability of directors and corporators for transacting business without certificate of authority
  Prohibition to do business. No investment company as defined in this chapter shall undertake the transaction of an investment business in this State until it ...
• New Jersey Statutes 17:16A-3 Authorization of domestic companies, individuals and partnerships
  Authorization of domestic companies, individuals and partnerships. An investment company, other than a foreign corporation, desiring to secure a certificate of authority shall make application ...
• New Jersey Statutes 17:16A-4 Foreign investment companies; requirements for admission
  Any investment company incorporated by authority of another State or Foreign Government, upon complying with the conditions hereinafter specified, may be admitted to transact in ...
• New Jersey Statutes 17:16A-5 Officers or agents of foreign investment companies; certificate of authority
  No officer or agent of any foreign investment corporation shall make, issue, sell, offer for sale, negotiate or guarantee any investment contract or transact any ...
• New Jersey Statutes 17:16A-6 Service of process on Commissioner as attorney for foreign investment company
  When any original process is served upon the commissioner as attorney for an investment company of another State, and a service fee of $10.00 paid ...
• New Jersey Statutes 17:16A-7 Certificate of authority as prima facie evidence of incorporation of foreign company
  When an investment company of another State shall hold the certificate of the commissioner authorizing it to transact business in this State, in any civil ...
• New Jersey Statutes 17:16A-8 Securities deposited with Commissioner
  a. The commissioner may order a change of any of the securities deposited by any investment company incorporated under the laws of any other State ...
• New Jersey Statutes 17:16A-9 Investment of capital, surplus or other funds
  An investment company incorporated under the laws of this State, for the purpose of investing its capital, surplus or other funds, or any part thereof, ...
• New Jersey Statutes 17:16A-10 Investment contracts; form; approval by Commissioner; review
  Except as herein otherwise provided, no investment contract shall be issued by any investment company of this State or be made, issued, solicited, sold or ...
• New Jersey Statutes 17:16A-11 Reserves on investment contracts
  Every investment company authorized to transact business in this State shall maintain on all its outstanding investment contracts the reserves specified in this section. The ...
• New Jersey Statutes 17:16A-12 Surrender values under investment contracts
  Every investment contract issued or delivered in this State to any resident of this State by any investment company, providing for payments, dues or deposits ...
• New Jersey Statutes 17:16A-13 Annual reports of financial condition
  Every investment company transacting business in this State shall annually on or before March first file in the department a statement, subscribed and sworn to ...
• New Jersey Statutes 17:16A-14 Examination of affairs; expenses; duty to exhibit books, records and accounts
  The commissioner may, whenever he deems the same expedient, make or cause to be made, an examination of the assets and liabilities, method of conducting ...
• New Jersey Statutes 17:16A-15 Fees
  The commissioner shall charge and collect for his services under the provisions of this chapter and pay into the State Treasury the following fees: for ...
• New Jersey Statutes 17:16A-16 Revocation of certificate of authority of foreign investment company
  When the commissioner shall find that the affairs of any investment company incorporated under the laws of another State or country are in an unsound ...
• New Jersey Statutes 17:16A-17 Procedure for revocation of certificate of authority of foreign company
  Before any such certificate of authority shall be cancelled or revoked as provided in section sixteen of this chapter, the commissioner shall give at least ...
• New Jersey Statutes 17:16A-18 Revocation, cancellation or refusal to issue certificate of authority; review
  The revocation or cancellation by the commissioner of a certificate of authority or the refusal or failure by the commissioner to issue or renew a ...
• New Jersey Statutes 17:16A-19 Domestic investment companies; insolvency; suspension of business and other acts; receiver; injunction
  When any investment company of this State shall become insolvent or shall suspend its ordinary business for want of funds to carry on the same, ...
• New Jersey Statutes 17:16A-20 Offenses and penalties
  If any investment company itself or by its agents, attorneys, solicitors, surveyors, canvassers, collectors or other representatives of whatsoever designation shall solicit, negotiate, or in ...
• New Jersey Statutes 17:16C-1 Definitions
  In this act, unless the context otherwise requires, the following words and terms shall have the following meanings: (a) "Goods" means all chattels personal which ...
• New Jersey Statutes 17:16C-2 Necessity of license
  No person shall hereafter engage in or continue to engage in the business of a sales finance company or in the business of a motor ...
• New Jersey Statutes 17:16C-3 License application
  3. An application for a new license or for a renewal thereof shall be accompanied by the required application and license fees, as ...
• New Jersey Statutes 17:16C-4 Issuance or refusal of license
  Within 60 days after the filing of the application and the payment of the fees hereinafter set forth the commissioner shall either: (a) Issue and ...
• New Jersey Statutes 17:16C-5 Notice and hearing on refusal of license
  If the commissioner refuses to issue a license he shall: (a) Notify the applicant of the denial and of his right to request a hearing ...
• New Jersey Statutes 17:16C-6 License; specification of office or branch; transferability; transaction of business under other names or at other locations
  (a) Each license shall specify the location of the office or branch and must be conspicuously displayed therein. In case such location be changed, the ...
• New Jersey Statutes 17:16C-7 Application fee for sales finance companies, license period.
  7. Every application for a new license shall be accompanied by a nonrefundable application fee as provided in subsection d. of section ...
• New Jersey Statutes 17:16C-8 Motor vehicle installment seller; license, application fee.
  8. With respect to a license fee imposed prior to the implementation of the assessment pursuant to P.L.2005, c.199 (C.17:1C-33 et al.), ...
• New Jersey Statutes 17:16C-9 Abatement in amount of fee; expiration of license
  No abatement in the amount of the said license fee shall be made if the license is issued for less than 1 year, nor if ...
• New Jersey Statutes 17:16C-10 Grounds for refusal to issue, revocation, suspension, refusal to renew license
  10. a. The commissioner may refuse to issue and may revoke, suspend or refuse to renew a license or impose a penalty pursuant ...
• New Jersey Statutes 17:16C-11 Suspension, revocation or refusal to renew particular license or all licenses issued to licensee
  The commissioner may suspend, revoke or refuse to renew the particular license with respect to which grounds for revocation, suspension or refusal to renew may ...
• New Jersey Statutes 17:16C-12 Surrender of license; effect upon civil or criminal liability
  Any licensee may surrender his license by delivering the license to the commissioner with written notice that he thereby surrenders the license, but such surrender ...
• New Jersey Statutes 17:16C-13 Suspension, revocation or refusal to renew license not to impair obligation of lawful retail installment contract or retail charge account
  No suspension, revocation or refusal to renew any license shall impair or affect the obligation of any lawful retail installment contract or retail charge account ...
• New Jersey Statutes 17:16C-14 Reinstatement of suspended licenses or issuance of new licenses after revocation
  Every license issued hereunder shall remain in force and effect until the same shall have expired or been surrendered, revoked or suspended in accordance with ...
• New Jersey Statutes 17:16C-15 Investigations by commissioner
  The commissioner, if he has reasonable cause to believe that any licensee, or any other person, has violated any of the provisions of this act ...
• New Jersey Statutes 17:16C-16 Subpoenas; oaths and affirmations; power to administer
  The commissioner shall have power to issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records and other evidence ...
• New Jersey Statutes 17:16C-17 Failure to comply with subpoena; order of superior court; contempt
  In case of a failure of any person to comply with any subpoena issued by the commissioner or to testify with respect to any matter ...
• New Jersey Statutes 17:16C-18 Maintenance of books, accounts and records.
  18. Every retail seller, sales finance company, motor vehicle installment seller and holder shall maintain at its place or places of business in ...
• New Jersey Statutes 17:16C-19 Preservation of books, accounts, records, annual report; violations, penalties.
  19. All books, accounts and records of the licensee shall be preserved and kept available as provided herein for such period of time ...
• New Jersey Statutes 17:16C-20 Information to be shown in books, accounts and records
  The commissioner is hereby authorized to prescribe the minimum information to be shown in such books, accounts and records of the licensee so that such ...
• New Jersey Statutes 17:16C-21 Retail installment contract; writing required; agreements between retail buyer and seller; signatures
  Every retail installment contract shall be in writing and shall contain all of the agreements between the retail buyer and retail seller relating to the ...
• New Jersey Statutes 17:16C-22 Contents of retail installment contract; blank spaces
  Every retail installment contract shall state the names and addresses of all parties thereto, the date when signed by the retail buyer, and shall contain ...
• New Jersey Statutes 17:16C-23 Copy of contract to be furnished to buyer
  A copy of the retail installment contract shall be furnished by the retail seller to the retail buyer at the time the retail buyer signs ...
• New Jersey Statutes 17:16C-24 Notice to buyer in retail installment contract
  Every retail installment contract shall contain the following notice printed prominently, in the form herein indicated, in 10-point bold type or larger, directly above the ...
• New Jersey Statutes 17:16C-25 Acknowledgment by buyer of receipt of copy of contract
  Any acknowledgment by the retail buyer of receipt of a copy of the contract shall be printed or written in a size equal to at ...
• New Jersey Statutes 17:16C-26 Payment of time balances, terms; exceptions
  26. Every retail installment contract shall provide for the payment of the time balance in substantially equal amounts on dates separated by substantially equal payment-periods; ...
• New Jersey Statutes 17:16C-27 Separate items to be set forth in retail installment contract
  Every retail installment contract shall set forth the following separate items: (a) The cash price of the goods which are the subject matter of the ...
• New Jersey Statutes 17:16C-28 Inclusion in retail installment contract of additional goods purchased after original agreement; additional statements
  Whenever a retail installment contract by its terms permits the inclusion of additional goods purchased after the original agreement, and such goods are so purchased ...
• New Jersey Statutes 17:16C-29 Allocation of payment on continuing agreement after addition of additional purchases; prepayment; redemption of separate purchases
  Whenever a payment is made on such a continuing agreement after additional purchases have been added, the payment shall be considered as allocated among each ...
• New Jersey Statutes 17:16C-30 Insurance at retail buyer's expense; dual protection
  Where title to or a lien upon goods sold by the retail seller is retained or taken by the retail seller the retail buyer may ...
• New Jersey Statutes 17:16C-31 Selection of insurer acceptable to retail seller; inclusion of premium in contract; cancellation of insurance by holder after repossession and sale
  The retail buyer shall have the privilege of supplying insurance on the goods through an agent or broker of his own selection and selecting an ...
• New Jersey Statutes 17:16C-32 Notice that policy required in sale of motor vehicle includes no liability or property damage coverage
  Whenever, in the sale of a motor vehicle, the retail buyer is required, under the provisions of this act, to provide a policy of insurance ...
• New Jersey Statutes 17:16C-33 Additional insurance; cancellation rights
  In addition to insurance on the goods, by agreement with the retail buyer, the retail seller may purchase such other insurance and other benefits as ...
• New Jersey Statutes 17:16C-34 Cancellation of insurance policies; crediting next maturing installment of contract with refund
  If any policy or policies or certificates of insurance or other benefits are canceled, or the premiums thereon adjusted, the unearned insurance premium refund or ...
• New Jersey Statutes 17:16C-34.1 Retail charge account; terms; regulations; effective date of accounts
  (a) A retail charge account may be entered into between a retail buyer and a retail seller or a person wholly owned by or which ...
• New Jersey Statutes 17:16C-35 Prohibited contract provisions; acceleration clause
  No retail installment contract or retail charge account or separate instruments executed in connection therewith shall contain any acceleration clause under which any part or ...
• New Jersey Statutes 17:16C-36 Waiver of right of action by retail buyer against seller, holder, etc.
  No retail installment contract or retail charge account or separate instruments executed in connection therewith shall contain any provisions whereby the retail buyer waives any ...
• New Jersey Statutes 17:16C-37 Power of attorney to confess judgment; other powers of attorney
  No retail installment contract or retail charge account or separate instruments executed in connection therewith shall contain any power of attorney to confess judgment or ...
• New Jersey Statutes 17:16C-38 Relief of retail seller from liability under contract
  No retail installment contract or retail charge account or separate instruments executed in connection therewith shall contain any provision relieving the retail seller from liability ...
• New Jersey Statutes 17:16C-38.1 Remedy of buyer against seller; provision relieving holder or other assignee from liability; prohibition
  No retail installment contract shall contain any provision relieving the holder, or other assignee, from liability for any civil remedy sounding in contract which the ...
• New Jersey Statutes 17:16C-38.2 Form, terms of consumer notes
  3. No retail installment contract shall require or entail the execution of any note unless such note shall have printed the words "CONSUMER NOTE" in ...
• New Jersey Statutes 17:16C-38.3 Violations; penalty
  Any person who procures the execution of a note in violation of this act shall be liable to a penalty of not more than $500.00 ...
• New Jersey Statutes 17:16C-38.4 Execution of note in violation of act; disallowance of finance, collection, etc., charges
  In the event that a note is executed in connection with a retail installment contract in violation of this act, no finance, delinquency, collection, repossession ...
• New Jersey Statutes 17:16C-39 Assignment of salary, wages, commissions or other compensation for services
  No retail seller, sales finance company or holder shall at any time take in a retail installment contract, a retail charge account or in a ...
• New Jersey Statutes 17:16C-39.1 Real property mortgage as additional security; prohibition
  No retail installment contract, retail charge account or separate instrument executed in connection therewith shall contain any provision whereby the retail seller, sales finance company ...
• New Jersey Statutes 17:16C-40 Loan of money or advance of credit to retail buyer; rate of interest
  No retail seller, sales finance company or holder shall make any loan of money or advance of credit to a retail buyer on or in ...
• New Jersey Statutes 17:16C-40.1 Loan secured by purchase money security interest to finance purchase of motor vehicle
  A sales finance company licensed under the provisions of the "Retail Installment Sales Act" of 1960 (P.L.1960, c. 40), as amended and supplemented, or any ...
• New Jersey Statutes 17:16C-40.2 Violation of provisions; revocation or suspension of license
  A violation of any provision of this act shall be cause for the revocation or suspension of the license of the sales finance company by ...
• New Jersey Statutes 17:16C-41 Time price differential; rates; computation
  A retail seller and a motor vehicle installment seller, under the provisions of this act, shall have authority to charge, contract for, receive or collect ...
• New Jersey Statutes 17:16C-42 Delinquency or collection charge for default; attorney's fees; return check fee
  42. (a) The holder of any retail installment contract may collect a delinquency or collection charge for default in the payment of any such contract ...
• New Jersey Statutes 17:16C-43 Prepayment; credit on account
  When the balance owing on a retail installment contract is repaid in full at any time before the end of the contract period, the holder ...
• New Jersey Statutes 17:16C-44 Extending due date of contract or installment payment; options
  44. The holder of a retail installment contract may extend the scheduled due date of any retail installment contract and defer the ...
• New Jersey Statutes 17:16C-44.1 Retail charge account; time price differential; rate; computation
  (a) Notwithstanding any other law to the contrary, a retail seller, sales finance company, banking institution or other holder may charge, receive and collect a ...
• New Jersey Statutes 17:16C-45 Limitation on sale, transfer or assignment of obligation or evidence of indebtedness by retail seller
  No retail seller under a retail installment contract, executed in this State, shall sell, transfer or assign the obligation represented by such contract or any ...
• New Jersey Statutes 17:16C-46 Sale, transfer or assignment without notice to retail buyer; payment or tender to last known holder
  If a retail installment contract is lawfully sold, transferred or assigned, pursuant to the provisions of this act, and a written notice of such sale, ...
• New Jersey Statutes 17:16C-47 Assignment of aggregation of retail installment contracts as collateral security for bona fide commercial loan
  The provisions of section 45 shall not apply to any assignment of an aggregation of retail installment contracts, which is executed by a retail seller ...
• New Jersey Statutes 17:16C-47.1 Purchases of retail installment contract or retail charge account by sales finance company; terms, conditions and price
  A sales finance company may purchase a retail installment contract or obligations incurred pursuant to a retail charge account from a retail seller or sales ...
• New Jersey Statutes 17:16C-48 Furnishing statement of retail buyer's account
  Upon written request from the retail buyer, the retail seller or holder of the retail installment contract shall give or forward to the retail buyer ...
• New Jersey Statutes 17:16C-49 Receipt for payment; contents
  Whenever payment is made on account of any retail installment contract in cash, the person receiving such payment shall, at the time of receiving such ...
• New Jersey Statutes 17:16C-50 Additional charges prohibited; exceptions
  No retail seller, sales finance company, or holder shall charge, contract for, collect or receive from any retail buyer, directly or indirectly, any further or ...
• New Jersey Statutes 17:16C-51 Collection of charges if sale not made prohibited; status of deposit on contemplated purchase of goods
  No retail seller shall collect or retain any amount whatsoever in connection with the contemplated sale of goods under a retail installment sales contract, if ...
• New Jersey Statutes 17:16C-52 Payment in full of retail installment contract
  52. Upon payment in full by the retail buyer of the time balance and other amounts lawfully due under a retail installment contract, the holder ...
• New Jersey Statutes 17:16C-53 Certificate of ownership delivered to retail buyer upon final payment
  53. When the final payment on a retail installment contract is made in cash by the retail buyer, or his authorized representative, at the designated ...
• New Jersey Statutes 17:16C-54 Unauthorized costs and charges
  Whenever, in any retail installment contract or retail charge account under this act, the retail seller, sales finance company or holder has knowingly charged, contracted ...
• New Jersey Statutes 17:16C-55 Doing business without license; penalty
  Any person, and any director, officer, employee, agent, or representative thereof, who or which shall engage in this State in the business of a sales ...
• New Jersey Statutes 17:16C-56 Violations of act; penalty; enforcement by summary proceedings
  (a) Any person conducting business under this act and any director, officer, partner, member, employee, agent, or representative thereof who shall knowingly violate any provision ...
• New Jersey Statutes 17:16C-57 Partial invalidity
  If any provision of this act or the application thereof to any person or circumstance is held unconstitutional, the remainder of the act and the ...
• New Jersey Statutes 17:16C-58 Repeals
  Chapter 419, P.L.1948, entitled, "An act to define and regulate retail installment sales in the amount of or of the value of $3,000.00 or less ...
• New Jersey Statutes 17:16C-58.1 Date of application of act; validity of transactions prior to effective date of act
  (a) The provisions of this act relating to retail charge accounts shall apply to such accounts in existence on the effective date of this act. ...
• New Jersey Statutes 17:16C-59 Continuation of license under former act
  Any sales finance company holding a license under the provisions of chapter 419, P.L.1948, approved September 29, 1948, and doing business on the date this ...
• New Jersey Statutes 17:16C-60 Short title
  This act shall be known and may be cited as the "Retail Installment Sales Act of 1960." L.1960, c. 40, p. 163, s. 60. ...
• New Jersey Statutes 17:16C-61 Effective date
  This act shall take effect 90 days from the date of its approval. L.1960, c. 40, p. 163, s. 61. ...
• New Jersey Statutes 17:16C-61.1 Short title
  This act shall be known as, and may be cited as, the "Door-to-Door Retail Installment Sales Act of 1968." L.1968, c. 223, s. 1, eff. ...
• New Jersey Statutes 17:16C-61.2 Remedial legislation; liberal construction
  This act deemed and hereby declared remedial legislation necessary for the protection of the consumers of this State, shall be liberally construed to effectuate the ...
• New Jersey Statutes 17:16C-61.3 Legislative findings
  The Legislature hereby finds and declares that the consumer is frequently induced to enter into retail installment sales contracts for goods which he does not ...
• New Jersey Statutes 17:16C-61.4 Definitions
  As used in this act, unless the context clearly indicates otherwise: (a) "Business day" means any day other than a Saturday, Sunday or holiday. (b) ...
• New Jersey Statutes 17:16C-61.5 Rescission; duties of buyer and seller; exception of certain sales; record of buyer's notice
  (a) Any retail installment sale of goods or retail installment contract for the sale of goods, other than a motor vehicle, a boat, and motor ...
• New Jersey Statutes 17:16C-61.6 Receipt; form and content
  (a) At the time of executing every retail installment sale or retail installment contract subject to the provisions of section 5 of this act, the ...
• New Jersey Statutes 17:16C-61.7 Action to recover amount paid
  When a retail seller, who has received notice of intent to rescind a retail installment sale or retail installment contract, fails to pick up the ...
• New Jersey Statutes 17:16C-61.8 Violations by seller
  Any retail seller who willfully destroys, within 18 months after its receipt, record of a retail buyer's notice of intent to rescind a sale; or ...
• New Jersey Statutes 17:16C-61.9 Rights and remedies of act are in addition to and cumulative of other rights
  The rights and remedies accorded a retail buyer by the provisions of this act are hereby declared to be in addition to and cumulative of ...
• New Jersey Statutes 17:16C-62 Definitions
  1. Unless the context otherwise indicates: (a) "Goods" means all chattels personal which are furnished or used in the modernization, rehabilitation, ...
• New Jersey Statutes 17:16C-63 Home repair contracts; form and contents
  Every home repair contract: (a) Shall be in writing and contain the entire agreement between the owner and the home repair contractor; (b) Shall state ...
• New Jersey Statutes 17:16C-64 Prohibited contract provisions
  No home repair contract shall contain: (a) any acceleration clause under which any part or all of the time balance not yet matured may be ...
• New Jersey Statutes 17:16C-64.1 Relief from liability; prohibited contract provisions
  No home repair contract shall contain any provision relieving the holder, or other assignee, from liability for any civil remedy sounding in contract which the ...
• New Jersey Statutes 17:16C-64.2 Form, terms of consumer notes; contractor's bond
  2. No home repair contract shall require or entail the execution of any note unless a home repair contractor obtains a bond ...
• New Jersey Statutes 17:16C-64.3 Unlawful procurement of consumer note; penalty
  Any person who procures the execution of a note in violation of this act shall be liable to a penalty of not more than $500.00 ...
• New Jersey Statutes 17:16C-64.4 Execution of note in violation of act; recovery of finance charges prohibited
  In the event that a note is executed in connection with a home repair contract in violation of this act, no finance, delinquency, collection, repossession ...
• New Jersey Statutes 17:16C-65 Place of business within state; operation as individual, partnership or corporation; workmen's compensation and liability insurance; copy of contract
  (a) Every home repair contractor must own, rent or lease a place of business in the State of New Jersey; namely, an office, warehouse or ...
• New Jersey Statutes 17:16C-66 Certificate of completion; request or acceptance prior to completion of work prohibited; notice in certificate
  No home repair contractor shall request or accept a certificate of completion signed by the owner prior to the actual completion of the work to ...
• New Jersey Statutes 17:16C-67 Separate disclosure statements in contract
  6. (a) Every home repair contract shall state separately: (1) the cash price of the goods or services to be furnished; ...
• New Jersey Statutes 17:16C-68 Payment of time balance; extension of scheduled due date; options for computing additional charge
  (a) Every home repair contract shall provide for the payment of the time balance in substantially equal amounts on dates separated by substantially equal payment-periods; ...
• New Jersey Statutes 17:16C-69 Credit service charge
  8. a. A home repair contractor may impose and receive a credit service charge in an amount or amounts agreed to by the ...
• New Jersey Statutes 17:16C-70 Additional charges prohibited; exceptions
  No home repair contractor or any other person shall charge, collect or receive from any owner, directly or indirectly, any further or other amount for ...
• New Jersey Statutes 17:16C-71 Delinquency or collection charge for default in payment; attorney's fees
  (a) A home repair contract using a precomputed credit service charge may provide for a delinquency or collection charge for default in the payment of ...
• New Jersey Statutes 17:16C-72 Receipt for payment; payment or tender to last known holder in absence of notice of assignment
  Whenever payment is made in cash on account of any home repair contract, the person receiving such payment shall, at the time of receiving such ...
• New Jersey Statutes 17:16C-73 Prepayment; credit on account; payment without penalty
  (a) When the unpaid balance owing on a precomputed home repair contract is repaid in full at any time before the end of the contract ...
• New Jersey Statutes 17:16C-74 Furnishing statement of owner's account
  Upon written request from the owner, the holder of the home repair contract shall deliver to the owner within 10 days from receipt of the ...
• New Jersey Statutes 17:16C-75 Duties of holder upon payment in full of home repair contract
  14. With respect to contracts pursuant to which there is a lien, mortgage or encumbrance upon the goods or real property, upon payment in full ...
• New Jersey Statutes 17:16C-76 Unauthorized costs and charges
  All costs and charges in connection with such contract which are not authorized by this act shall be unenforceable. Any payment of such costs or ...
• New Jersey Statutes 17:16C-77 Doing business without license prohibited; home repair salesman's license; home financing agency; nontransferability of license
  (a) No person shall engage in the business of a home financing agency, home repair contractor, or a home repair salesman in this State without ...
• New Jersey Statutes 17:16C-78 Application for license
  (a) Application for a license under this act shall be in writing, under oath, and shall be in the form prescribed by the commissioner. (b) ...
• New Jersey Statutes 17:16C-79 Issuance or refusal of license
  Within 60 days after the filing of the application and the payment of the fees herein set forth the commissioner shall: (a) issue and deliver ...
• New Jersey Statutes 17:16C-80 Notice and hearing upon refusal of license
  If the commissioner refuses to issue a license he shall: (a) Notify the applicant of the denial and of his right to request a hearing ...
• New Jersey Statutes 17:16C-81 Transaction of business under other names or at other locations; change of location or employer
  (a) No home repair contractor or home financing agency shall transact any business subject to this act under any other name or maintain an office ...
• New Jersey Statutes 17:16C-82 License fees payable by home financing agency.
  21. (a) With respect to a license fee imposed prior to the implementation of the assessment pursuant to P.L.2005, c.199 (C.17:1C-33 et al.), ...
• New Jersey Statutes 17:16C-83 Abatement in amount of license fee; expiration of license
  No abatement in the amount of the said license fee shall be made if the license is issued for less than 1 year, nor if ...
• New Jersey Statutes 17:16C-84 Suspension, revocation or refusal to renew license; notice; grounds
  The commissioner may suspend, revoke or refuse to renew any license issued hereunder, upon 10 days' notice in writing, forwarded by registered or certified mail ...
• New Jersey Statutes 17:16C-85 Investigations by commissioner; oaths and affirmations; power to administer
  The commissioner shall have power to make such investigations as he shall deem necessary, and may examine the books, accounts, records and files of any ...
• New Jersey Statutes 17:16C-86 Issuance of subpoenas; failure to comply; order of superior court; contempt
  The commissioner shall have the power to issue subpoenas to compel the attendance of witnesses and the production of documents, papers, books, records and other ...
• New Jersey Statutes 17:16C-87 Maintenance, preservation of books, accounts, records, annual report; violations, penalties.
  26. a. Every home repair contractor, home financing agency and holder of a home repair contract shall maintain at its place or places ...
• New Jersey Statutes 17:16C-88 Sale, transfer or assignment of obligation or evidence
  (a) No holder shall sell, transfer or assign any obligation in connection with a home repair contract or any evidence of indebtedness thereunder to any ...
• New Jersey Statutes 17:16C-89 Violations; penalties; enforcement
  (a) Any home repair contractor, home financing agency or holder of a home repair contract and any officer, partner, member, employee, agent or representative of ...
• New Jersey Statutes 17:16C-90 Partial invalidity
  If any provision of this act or the application thereof to any person or circumstances is held unconstitutional, the remainder of the act and the ...
• New Jersey Statutes 17:16C-93 Short title
  This act shall be known and may be cited as the "Home Repair Financing Act." L.1960, c. 41, p. 174, s. 32. ...
• New Jersey Statutes 17:16C-94 Effective date
  This act shall take effect 90 days from the date of its approval and apply to contracts executed after the effective date of this act. ...
• New Jersey Statutes 17:16C-95 Short title
  This act shall be known as, and may be cited as, the "Door-to-Door Home Repair Sales Act of 1968." L.1968, c. 224, s. 1. ...
• New Jersey Statutes 17:16C-96 Remedial legislation; liberal construction
  This act being deemed and hereby declared remedial legislation necessary for the protection of the consumers of this State, shall be liberally construed to effectuate ...
• New Jersey Statutes 17:16C-97 Legislative findings
  The Legislature hereby finds and declares that the consumer is frequently induced to enter into home repair contracts for goods and services which he does ...
• New Jersey Statutes 17:16C-98 Definitions
  As used in this act, unless the context clearly indicates otherwise: (a) "Business day" means any day other than a Saturday, Sunday or holiday. (b) ...
• New Jersey Statutes 17:16C-99 Rescission; duties of buyer and seller; exclusion of certain sales
  (a) Any home repair contract, for a purchase price in excess of $25.00, which is entered into at a place other than the place of ...
• New Jersey Statutes 17:16C-100 Receipt; form and content
  (a) At the time of executing every home repair contract subject to the provisions of section 5 of this act, the home repair contractor shall ...
• New Jersey Statutes 17:16C-101 Action to recover amount paid
  When a home repair contractor, who has received notice of intent to rescind a home repair contract, fails to pick up the goods and refund ...
• New Jersey Statutes 17:16C-102 Violations by home repair contractor
  Any home repair contractor who willfully destroys, within 18 months after its receipt, record of an owner's notice of intent to rescind a sale; or ...
• New Jersey Statutes 17:16C-103 Rights and remedies of act are in addition to or cumulative of other rights
  The rights and remedies accorded an owner by the provisions of this act are hereby declared to be in addition to and cumulative of any ...
• New Jersey Statutes 17:16D-1 Short title
  This act shall be known and may be cited as the "Insurance Premium Finance Company Act." L.1968, c. 221, s. 1. ...
• New Jersey Statutes 17:16D-2 Definitions
  For the purposes of this act-- (a) "Insurance premium finance company" means a person engaged in the business of entering into insurance premium finance agreements ...
• New Jersey Statutes 17:16D-3 Application
  The provisions of this act shall not apply with respect to: (a) Any insurance company authorized to do business in the State of New Jersey, ...
• New Jersey Statutes 17:16D-4 Licenses.
  4. Licenses. No person shall engage in the business of financing insurance premiums in this State without first having obtained a license ...
• New Jersey Statutes 17:16D-5 Action by commissioner on application
  Upon the filing of an application and the payment of the license fee the commissioner shall make an investigation of each applicant and shall issue ...
• New Jersey Statutes 17:16D-6 Revocation and suspension of licenses
  The commissioner may revoke or suspend the license of any premium finance company when and if after investigation the commissioner finds that (a) Any license ...
• New Jersey Statutes 17:16D-7 Books and records; annual report; violations, penalties.
  7. Every licensee shall maintain records of its premium finance transactions which will enable the commissioner to enforce full compliance with this act ...
• New Jersey Statutes 17:16D-8 Power to make rules
  The commissioner may make and enforce such reasonable rules and regulations as may be necessary in making effective the provisions of this act, but such ...
• New Jersey Statutes 17:16D-9 Form of premium finance agreement
  A premium finance agreement shall-- (a) Be dated, signed by or on behalf of the insured, and the printed portion thereof shall be in at ...
• New Jersey Statutes 17:16D-10 Maximum finance charge
  A premium finance company shall not charge, contract for, receive, or collect a finance charge other than as permitted by this act. The finance charge ...
• New Jersey Statutes 17:16D-11 Statement of accounts; receipts
  Upon the request of an insured a premium finance company shall give to the insured a written statement of his account. No more than 2 ...
• New Jersey Statutes 17:16D-12 Delinquency charges
  12. a. Delinquency charges. A premium finance agreement may provide for the payment by the insured of a delinquency charge of $1.00 to ...
• New Jersey Statutes 17:16D-13 Cancellation of insurance contract upon default
  (a) When a premium finance agreement contains a power of attorney enabling the premium finance company to cancel any insurance contract or contracts listed in ...
• New Jersey Statutes 17:16D-14 Application of unearned premiums
  (a) Whenever a financed insurance contract is canceled, the insurer on notice of such financing shall return whatever gross unearned premiums are due under the ...
• New Jersey Statutes 17:16D-15 Exemption from any filing requirements
  No filing of the premium finance agreement shall be necessary to perfect the validity of such agreement as a secured transaction as against creditors, subsequent ...
• New Jersey Statutes 17:16D-16 Severability
  If any provision of this act is held invalid, the invalidity thereof shall not affect other provisions of the act which can be given effect ...
• New Jersey Statutes 17:16E-1 Purpose
  The purpose of this act is to further fair competition among financial institutions by prohibiting certain interlocking relationships among institutions located in the same municipality, ...
• New Jersey Statutes 17:16E-1.1 Compliance of bank, savings bank with prohibition on interlocking relationships
  25. Any bank or savings bank that is in compliance with the federal "Depository Institution Management Interlocks Act," 12 U.S.C. s.3201 et seq. ...
• New Jersey Statutes 17:16E-2 Definitions
  For the purposes of this act: a. "Financial institution" shall include State or National bank, trust company, savings bank, State or Federal savings and loan ...
• New Jersey Statutes 17:16E-3 Mutual directors, officers or managers of financial institutions in same, adjacent, or contiguous municipalities; prohibition
  Except as otherwise provided in section 6 of this act no person who is a director, officer or manager of a financial institution which has ...
• New Jersey Statutes 17:16E-4 Rules and regulations; waiver of prohibition; determination of adjacent municipalities
  The Commissioner of Banking shall, in accordance with the "Administrative Procedure Act," P.L. 1968, c. 410 (C. 52:14B-1 et seq.), make and issue such rules ...
• New Jersey Statutes 17:16E-5 Interlocking relationships existing prior to this act; termination
  Any interlocking relationship prohibited by section 3 of this act which existed prior to the effective date of this act may continue for such a ...
• New Jersey Statutes 17:16E-6 Bank holding companies and financial institutions with common ownership; inapplicability of act
  Nothing in this act shall prevent a person who is a director or officer of a bank holding company from being a director or officer ...
• New Jersey Statutes 17:16F-1 Legislative findings and declarations
  The Legislature hereby finds and declares that depository institutions have sometimes failed to provide adequate home financing on a nondiscriminatory basis for all neighborhoods within ...
• New Jersey Statutes 17:16F-2 Definitions
  As used in this act: a. "Depository institution" means any banking institutions as defined in section 1 of the Banking Act of 1948, P.L.1948, c. ...
• New Jersey Statutes 17:16F-3 Discrimination in acceptance of applications, grants, modification, etc., or discouragement or refusal to allow application or inquiry; prohibition
  a. No depository institution shall discriminate by intent or in effect, on a basis that is arbitrary or unsupported by a reasonable analysis of the ...
• New Jersey Statutes 17:16F-7 Action for violations; damages; amount
  Any person or applicant who has been discriminated against as a result of a violation of section 3 of this act may bring an action ...
• New Jersey Statutes 17:16F-8 Investigations; power of commissioner; subpenas and orders to testify; enforcement
  The commissioner of banking shall have the power to make such investigations into any matter pertaining to this act as he shall deem necessary, including ...
• New Jersey Statutes 17:16F-9 Order to cease and desist
  If the commissioner finds that a depository institution is violating the provisions of this act, he shall order the institution to cease its unlawful practices. ...
• New Jersey Statutes 17:16F-10 Violations after cease and desist order; penalty
  A depository institution which continues to violate the provisions of this act after having been ordered by the commissioner to cease such practices shall be ...
• New Jersey Statutes 17:16F-11 Regulations
  The Commissioner of Banking is authorized and empowered to promulgate such regulations as he may deem necessary, consistent with sound banking practice, for the proper ...
• New Jersey Statutes 17:16F-12 Findings, declarations
  The Legislature finds and declares that: a. The decision by a person to assume a mortgage loan in order to buy a home is one ...
• New Jersey Statutes 17:16F-13 Rules, regulations
  The Commissioner of Banking shall, in addition to other regulatory powers, have the authority to promulgate rules and regulations, pursuant to the "Administrative Procedure Act," ...
• New Jersey Statutes 17:16F-14 Annual report to the Legislature
  The Commissioner of Banking shall report annually to the appropriate committees of the Legislature regarding existing and suggested regulations which assure that borrowers are treated ...
• New Jersey Statutes 17:16F-15 Definitions
  As used in this act: "Commissioner" means the Commissioner of Community Affairs. "Duplicate copy" means a duplicate of the original property tax bill which duplicate ...
• New Jersey Statutes 17:16F-17 Transfer of mortgage loan to purchasing servicing organization
  3. If the servicing of a mortgage loan for which a mortgage escrow account has been established is sold, assigned or transferred to ...
• New Jersey Statutes 17:16F-18 Disbursement of escrow funds by mortgagee or servicing organization
  a. Each mortgagee or servicing organization requiring a mortgagor to make payments into an escrow account shall make each disbursement from the escrow account before ...
• New Jersey Statutes 17:16F-19 Payment of mortgagor's property tax
  a. Payments for a mortgagor's property tax shall be made using the original tax bill, a duplicate copy thereof, or a replacement bill containing at ...
• New Jersey Statutes 17:16F-23 Written notice of property tax delinquency payment
  a. The tax collector of a taxing district shall send a written notice of a property tax delinquency to the mortgagor and the applicable servicing ...
• New Jersey Statutes 17:16F-24 Notification to mortgagee of tax delinquency
  a. If a mortgagor's property taxes remain unpaid so as to subject the mortgagor's property to a tax sale pursuant to Article 4 of the ...
• New Jersey Statutes 17:16F-25 Failure to resolve tax payment delinquency
  a. Upon failure by the mortgagee or its servicing organization to resolve the tax payment delinquency within 30 days of the date of the notice ...
• New Jersey Statutes 17:16F-26 Unpaid property taxes, mortgagor may sue mortgagee
  If a mortgagor's property taxes remain unpaid so as to subject the mortgagor's property to a tax sale pursuant to Article 4 of the "tax ...
• New Jersey Statutes 17:16G-1 Definitions
  As used in this act, a. "Nonprofit social service agency" or "nonprofit consumer credit counseling agency" means any corporation duly organized under Title 15 of ...
• New Jersey Statutes 17:16G-2 Debt adjuster
  a. No person other than a nonprofit social service agency or a nonprofit consumer credit counseling agency shall act as a debt adjuster. b. It ...
• New Jersey Statutes 17:16G-3 Application for licensure
  Application for said license shall be made on forms prescribed by the commissioner, who shall be empowered to require information deemed necessary to demonstrate that ...
• New Jersey Statutes 17:16G-4 Duties of commissioner; fees
  The commissioner shall promulgate procedures and standards for the issuance or denial of licenses, shall promulgate grounds for and procedures under which licenses may be ...
• New Jersey Statutes 17:16G-5 Bond; financial records; annual audit; filing; examination of agency; annual reports; violations, penalties.
  5. a. Any nonprofit social service agency or nonprofit consumer credit counseling agency licensed under this act shall be bonded to the satisfaction ...
• New Jersey Statutes 17:16G-6 Debt adjustment fee
  a. A licensee may charge a fee to cover the cost of providing debt adjustment and credit counseling. b. The fee for debt adjustment shall ...
• New Jersey Statutes 17:16G-7 Board of directors of agency
  Every nonprofit social service agency or nonprofit consumer credit counseling agency licensed under this act shall establish a board of directors whose function shall be ...
• New Jersey Statutes 17:16G-8 Penalties; summary action; civil action.
  8. Any person who violates any provisions of this act shall be subject to a penalty of $1,000 for the first offense ...
• New Jersey Statutes 17:16G-9 Responsibilities of licensee acting as debt adjuster.
  3. Every licensee acting as a debt adjuster shall: a. disburse to the appropriate creditors all funds received from ...
• New Jersey Statutes 17:16H-1 Definitions
  As used in this act: a. "Financial institution" shall mean any bank, savings bank, state association, credit union, secondary mortgage lender, small loan company or ...
• New Jersey Statutes 17:16H-2 Prohibited advertisements, announcements or statements
  No financial institution shall make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or ...
• New Jersey Statutes 17:16H-3 Enforcement; regulations
  The commissioner shall enforce the provisions of this act and shall promulgate such regulations as he deems necessary for the effective implementation of this act, ...
• New Jersey Statutes 17:16H-4 Cease and desist order; notice and hearing; penalty for failure to comply
  The commissioner may, after notice and opportunity for a hearing, order any financial institution to cease and desist from violations of this act. Any financial ...
• New Jersey Statutes 17:16I-1 Short title
  This act shall be known and may be cited as the "Multiple-party Deposit Account Act" . L.1979, c. 491, s. 1. ...
• New Jersey Statutes 17:16I-2 Definitions
  As used in this act unless the context otherwise requires: a. "Account" means a contract of deposit of funds between a depositor and a financial ...
• New Jersey Statutes 17:16I-3 Ownership as between parties and others; protection of financial institutions
  The provisions of sections 4 to 6 concerning beneficial ownership as between parties, or as between parties and P.O.D. payees or beneficiaries of multiple-party accounts, ...
• New Jersey Statutes 17:16I-4 Ownership during lifetime
  Unless a contrary intent is manifested by the terms of the contract, or the deposit agreement, or there is other clear and convincing evidence of ...
• New Jersey Statutes 17:16I-5 Right of survivorship
  a. Sums remaining on deposit at the death of a party to a joint account belong to the surviving party or parties as against the ...
• New Jersey Statutes 17:16I-6 Determination of rights at death of party; alteration of form of account; notice or order to financial institution
  The provisions of section 5 as to rights of survivorship are determined by the form of the account at the death of a party. This ...
• New Jersey Statutes 17:16I-7 Rights of creditors
  No multiple-party account will be effective against an estate of a deceased party to transfer to a survivor sums needed to pay debts, taxes, and ...
• New Jersey Statutes 17:16I-8 Multiple-party accounts; payments; notice
  8. Financial institutions may enter into multiple-party accounts to the same extent that they may enter into single-party accounts. The following ...
• New Jersey Statutes 17:16I-9 Financial institution protection; payment after death or disability; joint account
  Any sums in a joint account may be paid, on request, to any party without regard to whether any other party is incapacitated or deceased ...
• New Jersey Statutes 17:16I-10 Payment of P.O.D. account
  Any P.O.D. account may be paid, on request, to any original party to the account. Payment may be made, on request, to the P.O.D. payee ...
• New Jersey Statutes 17:16I-11 Payment of trust account
  Any trust account may be paid, on request, to any trustee. Unless the financial institution has received written notice that the beneficiary has a vested ...
• New Jersey Statutes 17:16I-12 Beneficial ownership of funds in multiple-party accounts
  a. Payment made pursuant to subsection b. of this section, or pursuant to section 8, 9, 10 or 11 of this act or section 89, ...
• New Jersey Statutes 17:16I-13 Setoff
  Without qualifying any other right to setoff or lien and subject to any contractual provision, if a party to a multiple-party account is indebted to ...
• New Jersey Statutes 17:16I-14 Effect of transfer by right of survivorship
  Any transfers resulting from the application of section 5 are effective by reason of the account contracts involved and this act, and are not to ...
• New Jersey Statutes 17:16I-15 Trusts created in fraud of creditors or laws governing transfer inheritance or estate taxes
  Nothing in this act shall validate any trust created in fraud of creditors of the fiduciary nor affect any law of this State governing transfer ...
• New Jersey Statutes 17:16I-16 Deposit contracts; form and content
  The Commissioner of Banking shall prescribe by rule or regulation the form and content of deposit contracts applicable to deposits of funds which may be ...
• New Jersey Statutes 17:16I-17 Application of act
  This act shall apply only to accounts opened after its effective date and accounts opened prior thereto shall be governed by the law in effect ...
• New Jersey Statutes 17:16J-1 Definitions
  For the purposes of this act: a. "Acquired depository" is a depository which is acquired as a result of a supervisory acquisition as provided in ...
• New Jersey Statutes 17:16J-2 Authorization; supervisory acquisition or merger
  The commissioner may, if he deems it to be in the public interest, authorize a supervisory acquisition by a company or a supervisory acquisition or ...
• New Jersey Statutes 17:16J-3 Directing of acquisition or merger; authority of commissioner
  The commissioner shall have the authority to direct a depository to merge into or be acquired by another depository or a company only if the ...
• New Jersey Statutes 17:16J-4 Priority; supervisory acquisition or merger
  a. The commissioner shall give priority to a proposal for supervisory acquisition of a depository over a proposal for supervisory merger, if the acquisition would ...
• New Jersey Statutes 17:16J-5 Plan; supervisory acquisition; authorization of execution; contents
  If a supervisory acquisition is to take place, two-thirds of the members of the board of directors or managers of each company or depository which ...
• New Jersey Statutes 17:16J-6 Agreement; supervisory merger; authorization of execution; contents
  If a supervisory merger pursuant to section 2 or 3 of this act is to take place, two-thirds of the members of the board of ...
• New Jersey Statutes 17:16J-7 Mutual depository as party; supervisory merger agreement or plan of acquisition; contents
  If a mutual depository is a party to a supervisory merger or a supervisory acquisition, the merger agreement or plan of acquisition shall also contain: ...
• New Jersey Statutes 17:16J-8 Liquidated account; merger of mutual depositories
  In the event of a merger of two mutual depositories or the conversion of a mutual depository to a capital stock depository which is related ...
• New Jersey Statutes 17:16J-9 Methods; supervisory merger
  A merger agreement shall provide for supervisory mergers by any one, or by any combination of, or by all of the following methods: a. The ...
• New Jersey Statutes 17:16J-10 Executed merger agreement or plan of acquisition
  Each depository which is a party to a supervisory merger or a supervisory acquisition shall submit to the commissioner: a. an executed merger agreement or ...
• New Jersey Statutes 17:16J-11 Shareholders; approval of agreement or plan; rights
  If the commissioner approves the merger agreement or plan of acquisition, it shall be submitted to the stockholders of each merging party or each party ...
• New Jersey Statutes 17:16J-12 Effective date; merger
  The merger shall become effective upon the last to occur of the following: a. In the case of a mutual depository, on the date the ...
• New Jersey Statutes 17:16J-13 Effect; merger
  Upon the merger of one depository institution into another, and after the merger agreement is approved, endorsed and filed: a. The corporate existence of the ...
• New Jersey Statutes 17:16J-14 Foreign depositories; acquisition
  Any state chartered depository may purchase or otherwise acquire one or more foreign depositories to the same extent and in the same manner that a ...
• New Jersey Statutes 17:16J-15 Federally chartered depository; supervisory merger
  In the case of a supervisory merger, the commissioner may authorize a state chartered depository to merge into, consolidate with, or sell its assets and ...
• New Jersey Statutes 17:16J-16 Protection of depositors; stockholder voting
  To protect the interest of the depositors of any depository in a supervisory merger or acquisition, the commissioner may waive the provisions of this or ...
• New Jersey Statutes 17:16J-17 Foreign depository; limitations on acquisition or merger
  Nothing in this act is intended to authorize the merger by or the acquisition of stock or the assets of a depository by a foreign ...
• New Jersey Statutes 17:16J-18 Commissioner; depository; powers
  Nothing in this act shall be deemed to limit any power otherwise granted to the commissioner or to any depository by law. L.1982, c. 8, ...
• New Jersey Statutes 17:16J-19 Commissioner; civil liability or penalty
  The commissioner shall not be subject to any civil liability or penalty nor to any criminal prosecution for any error in judgment or discretion in ...
• New Jersey Statutes 17:16J-20 Rules and regulations
  The commissioner may promulgate rules and regulations necessary to effectuate the purposes of this act. L.1982, c. 8, s. 20, eff. March 4, 1982. ...
• New Jersey Statutes 17:16J-21 Annual report
  The commissioner shall provide a written annual report to the chairmen of the Assembly Banking and Insurance Committee and the Senate Labor, Industry and Professions ...
• New Jersey Statutes 17:16K-1 Short title
  This act shall be known and may be cited as the "Electronic Fund Transfer Privacy Act." L.1983, c. 466, s. 1, eff. Jan. 12, 1984. ...
• New Jersey Statutes 17:16K-2 Definitions
  As used in this act: a. "Access device" means a card, code, or other means of access to a consumer's account, or any combination thereof, ...
• New Jersey Statutes 17:16K-3 Disclosure of information by financial institution to third party
  A financial institution may disclose information relative to an electronic fund transfer or account to a third party when: a. The disclosure is necessary for ...
• New Jersey Statutes 17:16K-4 Government agencies; obtaining information; necessity of search warrant or subpena
  No government agency, except as provided for in subsections e. and f. of section 3 of this act, may obtain information from an electronic fund ...
• New Jersey Statutes 17:16K-5 Interception by government agency; court order
  a. No government agency shall intercept an electronic fund transfer without first obtaining a court order. b. The judge, upon consideration of an application, may ...
• New Jersey Statutes 17:16K-6 Negligent, willful or reckless violation of act by financial institution or government agency; penalties
  If a court of competent jurisdiction determines that a financial institution or a government agency acted negligently, willfully, or recklessly in violating this act, the ...
• New Jersey Statutes 17:16K-7 Definitions
  1. As used in this act: "Access area" means any paved walkway or sidewalk which is within 50 feet of an automated teller machine or ...
• New Jersey Statutes 17:16K-8 Evaluation of automated teller machines for safety
  2. a. Operators of all automated teller machines in operation after the effective date of this act shall evaluate the safety of automated teller machines. ...
• New Jersey Statutes 17:16K-9 Video camera required
  3. Every automated teller machine facility shall contain a video camera which at least shall view and record all persons entering the facility or all ...
• New Jersey Statutes 17:16K-10 Minimum lighting requirements
  4. Each operator and any person or entity controlling an access area or defined parking area in operation after the effective date of this act ...
• New Jersey Statutes 17:16K-11 Basic safety precaution information to customers
  5. a. Each customer receiving an access device shall be furnished by the respective issuer thereof with written notice of basic safety precautions to be ...
• New Jersey Statutes 17:16K-12 Provisions; enforcement, penalty for violation
  6. a. The Department of Banking shall enforce the provisions of this act. b. Any party responsible hereunder found to be in violation of any ...
• New Jersey Statutes 17:16K-13 Other laws applicable
  7. Nothing contained in this act shall be construed to exempt or relieve any operator, owner or other person responsible hereunder from complying with all ...
• New Jersey Statutes 17:16K-14 Nonapplicability to certain ATM's
  8. The provisions of this act shall not apply to any automated teller machine or automated teller machine facility located in any building, structure or ...
• New Jersey Statutes 17:16K-15 Supersedure, preemption of local rules, regulations, etc.
  9. This act supersedes and preempts all rules, regulations, codes, or ordinances of any county or municipality with regard to customer safety at automated teller ...
• New Jersey Statutes 17:16K-16 Definitions relative to automated teller machines.
  1. As used in this act: "Automated teller machine" means any electronic information processing device located in the State of ...
• New Jersey Statutes 17:16K-17 Required display on automated teller machine.
  2. Every automated teller machine located in this State shall have displayed on it, in a conspicuous place, a permanent, affixed label ...
• New Jersey Statutes 17:16K-18 Enforcement; violations, penalties.
  3. a. The Department of Banking and Insurance shall enforce the provisions of this act. b. Any party found to ...
• New Jersey Statutes 17:16L-1 Definitions
  1. As used in this act: a. "Banking institution" means any state or federally chartered bank, savings bank, or savings and ...
• New Jersey Statutes 17:16L-2 Bank policy disclosure
  Every banking institution shall provide a written disclosure to every deposit account holder on the effective date of this act and to every applicant for ...
• New Jersey Statutes 17:16L-3 Penalty for violation
  Any banking institution which willfully violates any provision of this act or any regulation promulgated in accordance therewith shall be subject to a fine of ...
• New Jersey Statutes 17:16M-1 Definitions
  As used in this act: "Capital stock association" shall have the meaning ascribed to it in section 15 of P.L.1974, c.137 (C.17:12B-244). "Capital stock savings ...
• New Jersey Statutes 17:16M-2 Conversion of mutual association to mutual savings bank; capital stock association to capital stock savings bank
  Any mutual association may apply to the commissioner to convert itself to a mutual savings bank by organizing and transferring its assets and liabilities to ...
• New Jersey Statutes 17:16M-3 Application for conversion to savings bank
  An application by a State association to convert to a savings bank shall contain the following: a. Duplicate copies of the minutes of the proceedings ...
• New Jersey Statutes 17:16M-4 Approval of conversion by commissioner
  The commissioner shall not approve an application of a State association to convert to a savings bank unless the commissioner finds, after appropriate investigation, and ...
• New Jersey Statutes 17:16M-5 Approval of application of State association not satisfying certain requirements
  The commissioner may approve the application of a State association which does not satisfy the capital maintenance requirements set forth in subsection c. of section ...
• New Jersey Statutes 17:16M-6 Notification of applicant
  a. Within 60 days of receiving all of the information and documents specified in section 3 of this act and such other information as the ...
• New Jersey Statutes 17:16M-7 Filing of certificate of incorporation
  The certificate of incorporation with the commissioner's approval endorsed thereon or annexed thereto shall be filed in the department, and shall be recorded within 30 ...
• New Jersey Statutes 17:16M-8 Conversion of savings bank to State association
  Any savings bank chartered pursuant to the laws of this State may apply to the commissioner to convert to a State association by complying with ...
• New Jersey Statutes 17:16M-9 Rules, regulations
  The commissioner may promulgate and adopt, pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), rules and regulations necessary to effectuate the purposes ...
• New Jersey Statutes 17:16N-1 Findings, declarations
  1. a. The Legislature hereby finds and declares that: (1) The depository institutions in New Jersey should meet the basic banking needs of the communities ...
• New Jersey Statutes 17:16N-2 Definitions
  2. As used in this act: "Account" means an account in a depository institution with respect to which the account holder is permitted to make ...
• New Jersey Statutes 17:16N-3 New Jersey Consumer Checking Accounts
  3. a. Every depository institution that maintains regular checking accounts in this State shall make available to consumers a New Jersey Consumer Checking ...
• New Jersey Statutes 17:16N-4 Products, services offered to holders of New Jersey Consumer Checking Account
  4. Except as otherwise provided in this act, a depository institution shall offer all of its products and services to a consumer who holds a ...
• New Jersey Statutes 17:16N-5 Consumers to be informed of availability of New Jersey Consumer Checking Account
  5. Every depository institution required to offer a New Jersey Consumer Checking Account shall post a conspicuous notice in a public area of each office ...
• New Jersey Statutes 17:16N-6 Noncompliance
  6. a. A depository institution that fails to comply with any provision of this act may be enjoined in any court of competent jurisdiction. b. ...
• New Jersey Statutes 17:16N-7 Violation, penalty
  7. Upon a finding by the commissioner, after notice and an opportunity for hearing, of a violation by any depository institution of any provision of ...
• New Jersey Statutes 17:16P-1 Borrower may choose own attorney; payment of fees regulated; secured loan
  2. a. No banking institution, other financial institution or other lender, which is licensed or authorized under the laws of this State or of the ...
• New Jersey Statutes 17:16P-2 Payment of fees to lender's attorney; unsecured loan
  3. a. If a banking institution, other financial institution or other lender, which is licensed or authorized under the laws of this State or of ...
• New Jersey Statutes 17:16Q-1 Definitions
  1. As used in this act: "Appropriate federal financial supervisory agency" means: a. The Comptroller of the Currency with respect to federally chartered banks; b. ...
• New Jersey Statutes 17:16Q-2 CRA rating; receipt; public availability
  2. Beginning on the effective date of this act, each time a depository institution receives a CRA rating on and after July 1, 1990, from ...
• New Jersey Statutes 17:16Q-3 Community Financial Services Advisory Board.
  3. There is created in the Department of Banking and Insurance a Community Financial Services Advisory Board. The board shall consist of ...
• New Jersey Statutes 17:16Q-4 Board duties
  4. a. The board shall review the CRA reports submitted to it pursuant to section 2 of this act. b. The board shall act as ...
• New Jersey Statutes 17:16Q-5 Regulations
  5. The commissioner may promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), necessary to effectuate the provisions of this act. ...
• New Jersey Statutes 17:16R-2 Application to become successor fiduciary
  2. a. The qualified fiduciary desiring to become the successor fiduciary shall make application to the Superior Court, which application may be made ...
• New Jersey Statutes 17:16R-3 Appointment of successor fiduciary
  3. a. If the Superior Court approves the application, it shall make an order appointing the applicant qualified fiduciary as successor fiduciary in ...
• New Jersey Statutes 17:16R-4 Definitions relative to qualified fiduciaries.
  4. For the purpose of this act: a. "Qualified fiduciary" means a bank or savings bank authorized ...
• New Jersey Statutes 17:16S-1 Definitions relative to complying with discovery or production of documents; costs; reimbursement
  21. a. For the purposes of this section: "Financial institution" means an entity chartered or licensed by the United States of ...
• New Jersey Statutes 17:16S-2 Bank service fee on orders of execution; definitions
  22. A depository institution which is presented with an execution on an account pursuant to N.J.S.2A:17-57 et seq., may deduct from the amount ...
• New Jersey Statutes 17:16T-1 Findings, declarations relative to release of certain account information of senior or vulnerable customers.
  1. The Legislature finds and declares that many customers of financial institutions have worked diligently to accumulate savings and other resources deposited ...
• New Jersey Statutes 17:16T-2 Definitions relative to release of certain account information.
  2. As used in this act: "Account" means a deposit or fiduciary account maintained with a financial institution in the ...
• New Jersey Statutes 17:16T-3 Release of financial records to law enforcement agency, county adult protective services provider.
  3. Notwithstanding any other law, regulation or common law to the contrary, a financial institution may release the financial records regarding a ...
• New Jersey Statutes 17:16T-4 Immunity from liability for financial institution.
  4. a. Any financial institution, or officer, employee, or agent thereof, making a disclosure of information pursuant to this act, shall not be ...
• New Jersey Statutes 17:16U-1 Findings, declarations relative to voluntary compliance reviews by depository institutions
  1. The Legislature finds and declares that it is in the public interest for depository institutions in this State to conduct voluntary ...
• New Jersey Statutes 17:16U-2 Definitions relative to voluntary compliance reviews by depository institutions
  2. As used in this act: "Affiliate" shall have the meaning given it pursuant to section 2 of the federal ...
• New Jersey Statutes 17:16U-3 Report deemed privileged
  3. A voluntary compliance review report shall be privileged and neither it nor its existence shall be discoverable or admissible as evidence ...
• New Jersey Statutes 17:16U-4 Privilege of persons involved in preparation of report
  4. Persons involved in the preparation of a voluntary compliance review report shall not be required to give answers to any questions ...
• New Jersey Statutes 17:16U-5 Privileges not applicable, conditions
  5. a. The provisions of sections 3 and 4 of this act shall not apply if: (1) an enforcement action ...
• New Jersey Statutes 17:16U-6 Certain materials not considered privileged
  6. Materials described in this section shall not become privileged pursuant to the provisions of sections 3 and 4 of this act ...
• New Jersey Statutes 17:16U-7 Use of privileged information prohibited; limited disclosure
  7. No person shall use any information privileged pursuant to this act to discover any other information and any information so discovered ...
• New Jersey Statutes 17:16U-8 Other privileges unaffected
  8. Nothing in this act shall limit, waive or abrogate the scope or nature of any statutory or common law privilege, including, ...
• New Jersey Statutes 17:16U-9 Circumvention of privilege prohibited
  9. No regulatory agency shall adopt a rule for the purpose of circumventing the privilege established in this act by requiring disclosure ...
• New Jersey Statutes 17:16U-10 Information remains privileged; exceptions
  10. If a depository institution voluntarily discloses information it obtained from a voluntary compliance review to the department or to another appropriate regulatory ...
• New Jersey Statutes 17:16U-11 Access of third party restricted
  11. Nothing in this act shall be construed to permit any third party access to any voluntary compliance review report subject to the ...
• New Jersey Statutes 17:16V-1 Short title.
  1. This act shall be known and may be cited as the "Collateral Protection Insurance Act." L.1999,c.44,s.1. ...
• New Jersey Statutes 17:16V-2 Definitions relative to collateral protection insurance.
  2. As used in this act: "Collateral" means all personal property used to secure payment or performance pursuant to a ...
• New Jersey Statutes 17:16V-3 Collateral protection insurance, purchase by creditor.
  3. a. If the terms of the credit agreement require the debtor to obtain and continue to maintain insurance which designates the creditor ...
• New Jersey Statutes 17:16V-4 Collateral protection insurance; effective date, face amount, term.
  4. a. The effective date of the collateral protection insurance policy purchased by the creditor shall not be sooner than the earlier of ...
• New Jersey Statutes 17:16V-5 Termination, cancellation conditions.
  5. a. Collateral protection insurance shall terminate or shall be canceled upon the occurrence of any of the following: (1) ...
• New Jersey Statutes 17:16V-6 Obtaining insurance.
  6. Collateral protection insurance may be obtained from an insurance carrier chosen by the creditor which is licensed or otherwise authorized to ...
• New Jersey Statutes 17:16V-7 Cause of action not created to debtor or third party; remedy; exempt transactions.
  7. a. A creditor that places, or a person that receives commissions or fees arising out of, collateral protection insurance shall not be ...
• New Jersey Statutes 17:16V-8 Fiduciary relationship not imposed.
  8. Neither this act nor the purchase of collateral protection insurance nor receipt of commission or other consideration by the creditor shall ...
• New Jersey Statutes 17:16V-9 Remedies, rights, options unimpaired.
  9. This act shall not impair any other remedies, rights or options available to a creditor pursuant to law, regulation, ruling or ...
• New Jersey Statutes 17:16V-10 Notices to primary debtor.
  10. If a credit transaction involves more than one debtor, notices or warnings required to be mailed under this act, shall be mailed ...
• New Jersey Statutes 17:16V-11 Applicability when debtor resides in State.
  11. This act shall apply to all credit transactions entered into in this State or if the debtor resides in this State, provided, ...
• New Jersey Statutes 17:16V-12 Transactions to which act applies.
  12. This act shall apply to all credit transactions whether entered into prior or subsequent to the effective date of this act but ...
• New Jersey Statutes 17:16W-1 Declaration regarding records retention
  1. The Legislature declares that it is in the public interest to require State chartered financial institutions to retain certain records for ...
• New Jersey Statutes 17:16W-2 Definitions regarding records retention
  2. As used in this act: "Commissioner" means the Commissioner of Banking and Insurance. "Date of the passbook" ...
• New Jersey Statutes 17:16W-3 Statement accounts, certificates of deposit, passbook accounts; records
  3. A financial institution shall retain records of its accounts as follows: a. Statement accounts: (1) Records ...
• New Jersey Statutes 17:16W-4 Passbook payment with no financial institution records
  4. The following rules shall apply if a passbook is presented to a financial institution for payment and the financial institution has ...
• New Jersey Statutes 17:16W-5 Loan, collateralized loans; records
  5. A financial institution shall retain records relating to the making, collection and administration of loans as follows: a. ...
• New Jersey Statutes 17:16W-6 Records of checks, drafts, etc., six year retention
  6. A financial institution shall retain records of checks, drafts, money orders and cashier's checks issued by it for not less than ...
• New Jersey Statutes 17:16W-7 Other records, records retention
  7. A financial institution shall maintain records relating to safe deposit boxes, which records include access records, access agreements, lease agreements, signature ...
• New Jersey Statutes 17:16W-8 Retention time period
  8. If any records are subject to the provisions of more than one of the time periods for the retention of records ...
• New Jersey Statutes 17:16W-9 Retention period for records not covered by this act
  9. For any records not specifically covered by this act and for which there is no applicable state or federal retention period ...
• New Jersey Statutes 17:16W-10 Claims where records not required to be retained, statutes of limitations not affected; requirements
  10. a. In the event of any claim against a financial institution where the claimant relies in any way on records of the ...
• New Jersey Statutes 17:16W-11 Applicability
  11. The provisions of this act shall apply to all financial institutions chartered by this State and to the records of out-of-State banks, ...
• New Jersey Statutes 17:16X-1 Definitions regarding subsidiary mergers
  1. For purposes of this act: "Commissioner" means the Commissioner of Banking and Insurance. "Financial institution" means a ...
• New Jersey Statutes 17:16X-2 Conditions of merger
  2. A financial institution may merge with any one or more of its subsidiaries, so long as the financial institution is the ...
• New Jersey Statutes 17:16X-3 Merger's legal compliance
  3. Mergers of a financial institution and a subsidiary of a financial institution pursuant to this act shall comply with and require ...
• New Jersey Statutes 17:16X-4 Merger plan contents
  4. The governing board of the financial institution shall adopt a plan of merger for a merger pursuant to this act between ...
• New Jersey Statutes 17:16X-5 Adoption of merger plan
  5. The governing board of a subsidiary shall adopt a plan of merger pursuant to the provisions of the law under which ...
• New Jersey Statutes 17:16X-6 Application for commissioner's approval
  6. A financial institution shall apply for the commissioner's approval to merge with a subsidiary other than a financial institution, and shall ...
• New Jersey Statutes 17:16X-7 Merger deemed effective from filing of certification
  7. A merger between a financial institution and a subsidiary other than a financial institution shall be effective from the filing with ...
• New Jersey Statutes 17:16X-8 Dissention from the merger
  8. Any holder of an interest in a subsidiary to be merged, including a shareholder, partner or member, shall have the right ...
• New Jersey Statutes 17:16Y-1 Use of trade name, trademark of depository institution.
  1. No person shall use or reference the trade name or trademark of a depository institution, its affiliate or subsidiary or a ...
• New Jersey Statutes 17:16Y-2 Use of consumer's loan information.
  2. No person shall use or reference a consumer's loan number, loan amount or other specific loan information, whether publicly available or ...
• New Jersey Statutes 17:16Y-3 Use of depository institution trade name, trademark to deceive consumer.
  3. No person shall use the trade name or trademark of a depository institution, its affiliate or subsidiary or a trade name ...
• New Jersey Statutes 17:16Y-4 Violations, penalties.
  4. a. A person who violates the provisions of this act shall be liable to a penalty of $1,000 for each violation. The ...
• New Jersey Statutes 17:16Y-5 Regulations.
  5. The Commissioner of Banking and Insurance shall promulgate regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) as ...
• New Jersey Statutes 17:17-1 Kinds of insurance
  17:17-1. Ten or more persons may form a corporation for the purpose of making of any kinds of insurance, as follows: a. Against direct or ...
• New Jersey Statutes 17:17-2 Stock or mutual plan
  Companies may be formed upon the stock or mutual plan to transact any kind of insurance authorized by section 17:17-1 of this Title, subject to ...
• New Jersey Statutes 17:17-3 Purposes permitted
  A company may be formed: a. For the purposes specified in any or all of the paragraphs of section 17:17-1 of this Title except paragraph ...
• New Jersey Statutes 17:17-4 Certificate of incorporation
  The persons so proposing to incorporate shall sign a certificate stating their intention to form a corporation under chapters 17 to 33 of this Title ...
• New Jersey Statutes 17:17-5 Approval by attorney general; recording and filing certificate
  The certificate of incorporation shall be proved or acknowledged as required for deeds of real estate and be submitted to, and examined by, the attorney ...
• New Jersey Statutes 17:17-6 Capital and surplus required for stock company; temporary waiver
  17:17-6. No stock insurance company organized under chapters 17 to 33 of Title 17 of the Revised Statutes (17:17-1 et seq.), shall commence or continue ...
• New Jersey Statutes 17:17-7 Assets required for mutual company; temporary waiver
  17:17-7. No mutual insurance company organized under chapters 17 to 33 of Title 17 of the Revised Statutes ( s.17:17-1 et seq.), shall commence business ...
• New Jersey Statutes 17:17-8 Examination before commencing business
  Before granting authority to a company to issue policies or make contracts of insurance, the commissioner shall be satisfied, by such examination and evidence as ...
• New Jersey Statutes 17:17-9 Deposit prerequisite to authorization
  No company organized under chapters 17 to 33 of this title (s. 17:17-1 et seq.), other than a mutual company organized to make insurance solely ...
• New Jersey Statutes 17:17-10 Certificates authorizing company to commence business; issuance, surrender; replacement carrier.
  17:17-10. a. When satisfied that a company has complied with all the requirements of this subtitle to entitle it to engage in business ...
• New Jersey Statutes 17:17-11 Transacting business before authority given; liability of directors and corporators
  The directors and corporators of any company organized under chapters 17 to 33 of this title (s. 17:17-1 et seq.), shall be jointly and severally ...
• New Jersey Statutes 17:17-12 Misdemeanor to do business unless authorized
  No person by himself, or by his brokers, agents, solicitors, surveyors, canvassers or other representatives of whatever designation, nor any such broker, agent, solicitor, surveyor, ...
• New Jersey Statutes 17:17-13 Application of subtitle limited
  The provisions of this subtitle, other than those specifically made applicable thereto, shall not apply to corporations authorized to transact business in this state under ...
• New Jersey Statutes 17:17-14 Assessments required when liabilities of mutual company, other than fire or life, exceed assets
  When the liabilities of any mutual insurance company, other than fire or life, organized under the laws of this State and now doing business, shall ...
• New Jersey Statutes 17:17-15 Rules, regulations on solvency standards
  5. The commissioner may promulgate rules and regulations with respect to solvency standards and tests, including, but not limited to: the ratio of policyholder surplus ...
• New Jersey Statutes 17:17-16 Increase in amount of required capital, surplus
  6. The commissioner may increase the amount of capital or surplus required of any insurer pursuant to R.S.17:17-6 or R.S.17:17-7, or subsequently revise or redetermine ...
• New Jersey Statutes 17:17-17 Factors for determining increase, revision, redetermination of capital, surplus
  7. In determining any increase, revision or redetermination in the capital or surplus of an insurer pursuant to the provisions of section 6 of P.L.1993, ...
• New Jersey Statutes 17:17-18 Maintenance of reserves
  8. Every insurance company transacting the business of insurance in this State shall, at all times, maintain reserves in an amount estimated in the aggregate ...
• New Jersey Statutes 17:17-19 Suspension, revocation of authority to do business
  9. The commissioner may suspend or revoke the authority to do business in this State of any insurer that does not comply with the provisions ...
• New Jersey Statutes 17:17-20 Change of domicile for insurers
  1. a. An insurer that is formed under the laws of another state and is admitted to transact the business of insurance in ...
• New Jersey Statutes 17:17A-1 Insurer may acquire stock of or have common management with other insurers; restrictions
  Any domestic insurer may retain, invest in or acquire the whole or any part of the capital stock of any other insurer or insurers, or ...
• New Jersey Statutes 17:17A-2 Interlocking directorate
  Any person otherwise qualified may be a director of two or more insurers having a common management but no such interlocking directorate shall be used ...
• New Jersey Statutes 17:17A-3 Violations; notice of hearing; cease and desist order
  Whenever the Commissioner of Banking and Insurance has reason to believe that there is a violation of this act, he shall serve upon the insurer ...
• New Jersey Statutes 17:17A-4 Abridgement of rights or remedies
  Nothing contained in this section shall be deemed to alter or abridge any rights or remedies which may otherwise be available to any person under ...
• New Jersey Statutes 17:17B-1 Statement of beneficial owner, director or officer; amount of securities; change in ownership
  Every person who is directly or indirectly the beneficial owner of more than 10% of any class of any equity security of a domestic stock ...
• New Jersey Statutes 17:17B-2 Profits from purchase and sale, etc., of security within period less than 6 months to inure to company; recovery; exemptions
  For the purpose of preventing the unfair use of information which may have been obtained by such beneficial owner, director or officer by reason of ...
• New Jersey Statutes 17:17B-3 Unlawful sales of equity securities; defense
  It shall be unlawful for any such beneficial owner, director or officer, directly or indirectly, to sell any equity security of such company if the ...
• New Jersey Statutes 17:17B-4 Securities held in investment account; transactions made in ordinary course of business; exemption
  The provisions of section 2 of this act shall not apply to any purchase and sale, or sale and purchase, and the provisions of section ...
• New Jersey Statutes 17:17B-5 Foreign or domestic arbitrage transactions; exemption
  The provisions of sections 1, 2, and 3 of this act shall not apply to foreign or domestic arbitrage transactions unless made in contravention of ...
• New Jersey Statutes 17:17B-6 "Equity security" defined
  The term "equity security" when used in this act means any stock or similar security; or any security convertible, with or without consideration, into such ...
• New Jersey Statutes 17:17B-7 Exemption of certain equity securities
  The provisions of sections 1, 2, and 3 of this act shall not apply to equity securities of a domestic stock insurance company if (a) ...
• New Jersey Statutes 17:17B-8 Rules and regulations
  The commissioner shall have the power to make such rules and regulations as may be necessary for the execution of the functions vested in him ...
• New Jersey Statutes 17:17C-1 Definitions regarding domestic mutual life insurers.
  1. As used in this act: "Adoption date" means the date as of which the board of directors of the ...
• New Jersey Statutes 17:17C-2 Reorganization into a domestic stock life insurer.
  2. A domestic mutual life insurer authorized to write the kind of business defined in N.J.S.17B:17-3, which life insurer may also be ...
• New Jersey Statutes 17:17C-3 Reorganization process.
  3. The reorganization of a mutual insurer shall be accomplished pursuant to a plan of reorganization that complies with the following requirements: ...
• New Jersey Statutes 17:17C-4 Application for reorganization approval.
  4. a. Upon the affirmative vote of not less than three-fourths of the members of the entire board of directors of the mutual ...
• New Jersey Statutes 17:17C-5 Approval of reorganization.
  5. a. Subject to the provisions of subsection b. of this section, the plan of reorganization shall be approved by a vote of ...
• New Jersey Statutes 17:17C-6 Limits on acquisition of beneficial ownership; exceptions.
  6. Except as otherwise specifically provided in the plan of reorganization, prior to and for a period of three years following the ...
• New Jersey Statutes 17:17C-7 Financial compensation restricted
  7. No director, officer, agent or employee of the mutual insurer shall receive any fee, commission or other valuable consideration, other than ...
• New Jersey Statutes 17:17C-8 Compliance; nonimpairment.
  8. If the mutual insurer complies substantially and in good faith with the requirements of this act with respect to any required ...
• New Jersey Statutes 17:17C-9 Effective date of reorganization.
  9. The reorganization shall be effective upon the date when the specified requirements within the plan of reorganization are satisfied. On or ...
• New Jersey Statutes 17:17C-10 Status of stock insurer after reorganization.
  10. Upon the effective date, the mutual insurer shall immediately become a stock insurer, all membership interests shall be extinguished, and the reorganized ...
• New Jersey Statutes 17:17C-11 Reorganization plan amendments.
  11. The mutual insurer may, by action of not less than three-fourths of its board of directors, abandon or amend the plan of ...
• New Jersey Statutes 17:17C-12 Commissioner's rules, regulations.
  12. The commissioner may, in his discretion, promulgate rules and regulations to implement this act. L.1998,c.46,s.12. ...
• New Jersey Statutes 17:17C-13 Directors, officers retained.
  13. The directors and officers of the mutual insurer, unless otherwise specified in the plan of reorganization, shall serve as the directors and ...
• New Jersey Statutes 17:17C-14 Notice of intent to demutualize.
  14. Within 90 days following the public announcement by a mutual insurer of its intent to demutualize pursuant to this act, the mutual ...
• New Jersey Statutes 17:18-1 Powers and duties generally
  Any company organized under chapters 17 to 33 of this title (s. 17:17-1 et seq.), and its stockholders, members and directors, shall have all the ...
• New Jersey Statutes 17:18-2 Membership in federal home loan bank
  An insurance company incorporated under the laws of this state may become a member of the federal home loan bank organized in the district in ...
• New Jersey Statutes 17:18-3 Dealing in real estate; disposition of unnecessary real estate
  Any insurance company of this State may purchase, hold and convey, such real estate as may be: (a) Requisite for its accommodation in the transaction ...
• New Jersey Statutes 17:18-4 Purchase of stock of other companies
  Any insurance company, other than a life insurance company, organized under the laws of this state and authorized to transact business, may purchase or acquire, ...
• New Jersey Statutes 17:18-5 Reinsurance
  Any insurance company of this state may make reinsurance of any risks taken by it, but no life insurance company shall reinsure any of its ...
• New Jersey Statutes 17:18-6 Loan for defraying expenses
  A mutual company organized under chapters 17 to 33 of this title (s. 17:17-1 et seq.), may borrow or assume a liability for the repayment ...
• New Jersey Statutes 17:18-8 Engaging in other business
  No company formed hereunder shall transact any other business than that specified in its original or amended certificate of incorporation. ...
• New Jersey Statutes 17:18-9 Maximum amounts of individual risks
  17:18-9. No insurance company transacting business in this State shall expose itself to any loss on any one risk or hazard in an amount exceeding ...
• New Jersey Statutes 17:18-10 Advertisement of assets to include liabilities
  When an insurance company doing business in this state advertises its assets, it shall, in the same connection and equally conspicuously, advertise its liabilities, the ...
• New Jersey Statutes 17:18-12 Disability benefits not liable to execution, attachment, garnishment, etc.; rights of creditors
  No money or other benefit paid, provided or allowed to be paid, provided or allowed by any stock or mutual life, health or casualty insurance ...
• New Jersey Statutes 17:18-13 Title insurance companies; reserve of gross fees and premiums; charges against reserve
  Every title insurance company of this State or of another State or foreign country doing business in this State under paragraph "h" of section 17:17-1 ...
• New Jersey Statutes 17:18-14 Title insurance companies; loss reserve
  In addition to the reserves hereinabove required by section six of this act, every such company shall set up and maintain a loss reserve at ...
• New Jersey Statutes 17:18-15 Allocation of reserve of fees and premiums
  In cases where a title insurance company of this State or of another State or foreign country doing business in this State under paragraph "h" ...
• New Jersey Statutes 17:18-16 Payment of taxes, charges and fees authorized unless laws imposing them have been held invalid
  The directors or trustees of any corporation organized or existing under any general or special law of this State for the purpose of transacting the ...
• New Jersey Statutes 17:18-17 Furnishing accounting record of compensation to or on behalf of holder of policy to holder
  The provisions of any other law to the contrary notwithstanding, every insurance company when making compensation to or on behalf of the holder of any ...
• New Jersey Statutes 17:18-19 Definitions relative to vehicle protection product warranties.
  1. As used in this act: "Administrator" means a third party, other than the warrantor, who is designated by the ...
• New Jersey Statutes 17:18-20 Requirements for issuance of vehicle protection product warranty.
  2. A vehicle protection product warranty offered or issued in this State shall: a. Identify the warrantor, the seller, ...
• New Jersey Statutes 17:18-22 Conditions for express warranty.
  5. A vehicle protection product warranty issued by the warrantor of a vehicle protection product does not constitute a contract substantially amounting ...
• New Jersey Statutes 17:18-23 Registration not required for nonwarrantor.
  6. An administrator or person who sells or solicits a sale of a vehicle protection product, but who is not a warrantor, ...
• New Jersey Statutes 17:18-24 Vehicle protection product not required for sale, financing.
  7. A warrantor or seller of vehicle protection products shall not require, as a condition of sale or financing, a retail purchaser ...
• New Jersey Statutes 17:18-25 Noncompliance prior to effective date.
  8. The failure of a warrantor or other person to comply with P.L.2007, c.166 (C.17:18-19 et al.), or otherwise to administer a ...
• New Jersey Statutes 17:18-26 Violation, unlawful practice.
  9. A violation of the provisions of P.L.2007, c.166 (C.17:18-19 et al.) shall be an unlawful practice and a violation of P.L.1960, ...
• New Jersey Statutes 17:19-1 Insanitary housing conditions; necessity for remedy
  It is hereby declared that congested, insanitary and dangerous housing conditions which exist in portions of the cities of the first class in this state ...
• New Jersey Statutes 17:19-2 Application for approval of project to remedy conditions
  Any insurance company of this state authorized to hold, purchase and convey real estate may present to the governing body of any city of the ...
• New Jersey Statutes 17:19-3 Application; examination into; approval
  Upon filing the application the governing body shall examine it and any amendments and supplements thereto, and within three months of its filing, or of ...
• New Jersey Statutes 17:19-4 Acquiring property; condemnation
  When the application has been approved by the governing body, the applicant may thereupon undertake and proceed to acquire the real estate required for the ...
• New Jersey Statutes 17:19-5 Conveyance of property to applicant
  Upon the acquisition by the city of the property, and payment to the city by the applicant of the sum expended by it, the governing ...
• New Jersey Statutes 17:19-6 Completion of project
  When the property or any part necessary to the completion of the project has been acquired by condemnation and conveyed to the applicant, the applicant ...
• New Jersey Statutes 17:19-7 Disposal of property
  No applicant that has acquired any property by the exercise of the power of eminent domain by a city and by subsequent conveyance from the ...
• New Jersey Statutes 17:19-8 Investment in project authorized
  Any insurance company of this state, in addition to other investments allowed by law, may invest its funds, to an aggregate amount not exceeding five ...
• New Jersey Statutes 17:19-9 Application for approval of project; proceedings thereon
  The insurance company, prior to the acquisition of the real estate or within one year after its acquisition, or within such further period as may ...
• New Jersey Statutes 17:19-10 Procedure after approval of application
  When the application has been approved by the governing body, the company may thereupon proceed to improve the real estate already acquired, and to acquire ...
• New Jersey Statutes 17:19-11 Maximum rental fixed
  When new housing facilities, as provided in this chapter, have been completed, the governing body shall fix the maximum rental per room that may be ...
• New Jersey Statutes 17:19-12 Construction period
  When an insurance company has invested its funds in real estate pursuant to the authority granted by this article, it shall, within five years from ...
• New Jersey Statutes 17:20-1 Definitions
  17:20-1. a. As used in this chapter: (1) "Bank" means a State or federally chartered bank, savings bank, or savings and loan association which has ...
• New Jersey Statutes 17:20-1.1 Procedure for holding of deposits
  Whenever the commissioner is required or authorized by a law of this or any other state or country to receive and hold a deposit, he ...
• New Jersey Statutes 17:20-2 Deposits; interest on; substitution of
  17:20-2. The commissioner shall hold the securities deposited as aforesaid, for the benefit and security of all the policyholders of the company depositing them, but ...
• New Jersey Statutes 17:20-3 Delivery of securities on dissolution, liquidation, reorganization or merger; action to obtain delivery; claims of policyholders
  17:20-3. Whenever any insurance company of this State shall voluntarily dissolve, or a receiver or trustee thereof shall be appointed by the Superior Court in ...
• New Jersey Statutes 17:20-3.1 Fees for services of custodian required pursuant to R.S.17:20-1 et seq.
  The Commissioner of Insurance shall establish, by regulation, the fees to be charged insurance companies for the services of the custodian pursuant to the requirements ...
• New Jersey Statutes 17:20-4 Deposits to do business elsewhere
  The commissioner may receive from any insurance company of this State a deposit of any securities necessary to enable it to transact business in any ...
• New Jersey Statutes 17:21-1 Proxy voting permitted at elections
  At any election of directors, managers or other officers of an insurance company of this state, every person entitled to vote at the election may ...
• New Jersey Statutes 17:21-2 Compensation of directors
  The directors of any insurance company of this state, when acting as its officers, and also for each occasion of their attendance at meetings of ...
• New Jersey Statutes 17:21-3 Election of directors of benefit companies
  All elections of directors of any stock insurance company of this state incorporated by special charter, whose object is to assist its sick or needy ...
• New Jersey Statutes 17:22-5.2 Effective date
  This act shall take effect May first, one thousand nine hundred and forty-two. L.1941, c. 118, p. 267, s. 3. ...
• New Jersey Statutes 17:22-6.2a Authorization entitling broker to receive insurance premium on behalf of insurer
  Any insurer which delivers in this State to any insurance broker a contract of insurance (other than a contract of life insurance, or life, accident ...
• New Jersey Statutes 17:22-6.14a Rates of commission to be set forth in contracts; exceptions; termination of contracts.
  1. a. In the event that a policy is canceled by the insurer, either at its own behest or at the behest of ...
• New Jersey Statutes 17:22-6.14a1 Property and casualty insurers; filing of current underwriting guidelines
  All property and casualty insurers doing business in New Jersey shall, upon request of the Commissioner of Insurance, file with the Department of Insurance a ...
• New Jersey Statutes 17:22-6.14a2 Notice of nonrenewal; identification of underwriting standards not met; liability for information to insurer as to reasons for nonrenewal
  Where a policy of insurance is not renewed because of failure to meet the then current underwriting standards, the notice of nonrenewal shall identify the ...
• New Jersey Statutes 17:22-6.14a3 Rules and regulations by commissioner of insurance
  The Commissioner of Insurance is authorized to adopt, promulgate and enforce such rules and regulations as he determines to be necessary to implement this act. ...
• New Jersey Statutes 17:22-6.14b Severability
  If any section, subsection, subdivision, paragraph, sentence or clause of this act is held invalid or unconstitutional, such decision shall not affect the remaining portions ...
• New Jersey Statutes 17:22-6.26 Repeals
  Sections 17:22-1, 17:22-2, 17:22-3, 17:22-4, 17:22-5, 17:23-3, 17:32-6, and 17:32-11 of the Revised Statutes and section one of "An act concerning the licensing of agents ...
• New Jersey Statutes 17:22-6.35 Repeal
  Section 17:36-1 of the Revised Statutes is repealed. L.1948, c. 462, p. 1900, s. 8. ...
• New Jersey Statutes 17:22-6.37 Acting for unauthorized companies; prohibition; exceptions
  No person shall in this State directly or indirectly act as agent for, or otherwise represent or aid on behalf of another, any insurer not ...
• New Jersey Statutes 17:22-6.38 Violation; misdemeanor; penalties
  Any person who in this State represents or aids an unauthorized insurer in violation of section 3 of this act shall upon conviction thereof be ...
• New Jersey Statutes 17:22-6.39 Actions or proceedings by unauthorized insurers prohibited; exceptions
  No unauthorized insurer shall institute, file, or maintain, or cause to be instituted, filed, or maintained, any suit, action or proceeding in this State to ...
• New Jersey Statutes 17:22-6.40 Short title; application of act
  Sections 6 through 31 of this act (C. 17:22-6.40 through 17:22-6.65) constitute and may be referred to as "the surplus lines law." This act does ...
• New Jersey Statutes 17:22-6.41 Definitions relative to surplus lines insurers
  7. As used in this surplus lines law: (a) "Surplus lines agent" means an individual licensed as an insurance producer with ...
• New Jersey Statutes 17:22-6.42 Procurement of surplus line coverages; conditions
  8. If certain insurance coverages of subjects resident, located, or to be performed in this State cannot be procured from authorized insurers, ...
• New Jersey Statutes 17:22-6.43 Eligibility for export of insurance coverage; conditions
  9. No insurance coverage shall be eligible for export unless it meets all of the following conditions: (a) The ...
• New Jersey Statutes 17:22-6.44 Writing of coverages declared eligible for export without regard to rate filings
  An admitted insurer may write any insurance coverage declared eligible for export by the commissioner under section 9 of this act through any surplus lines ...
• New Jersey Statutes 17:22-6.45 Eligibility as surplus lines insurer
  11. No surplus lines agent shall place any coverage with any unauthorized insurer which is not then an eligible surplus lines insurer as ...
• New Jersey Statutes 17:22-6.46 Withdrawal of eligibility; grounds; notice
  If at any time the commissioner has reason to believe that any unauthorized insurer then on the list of eligible surplus lines insurers is insolvent, ...
• New Jersey Statutes 17:22-6.47 Submission of affidavit, certification to surplus lines agent
  13. Within 30 business days after the effectuation of any surplus lines insurance the originating broker shall submit to the surplus lines agent ...
• New Jersey Statutes 17:22-6.48 Surplus lines examining office
  The commissioner shall establish and maintain an office and such facilities as may reasonably be necessary to carry out the purposes of this act. This ...
• New Jersey Statutes 17:22-6.49 Appropriation
  There is hereby appropriated to the Department of Banking and Insurance for the fiscal year 1959-60 the sum of $35,000.00 for the purpose of discharging ...
• New Jersey Statutes 17:22-6.50 Issuance and delivery of evidence of insurance
  Upon placing a surplus line coverage, the surplus lines agent shall promptly issue and deliver to the insured evidence of the insurance consisting either of ...
• New Jersey Statutes 17:22-6.50a Certificate of insurance; contents
  Every certificate of insurance shall contain or have attached thereto a complete record of all policy insuring agreements, conditions, exclusions, clauses, endorsements or any other ...
• New Jersey Statutes 17:22-6.52 Statement of surplus lines agent
  Each surplus lines agent through whom a surplus lines coverage is procured shall write or print on the outside of the policy and on any ...
• New Jersey Statutes 17:22-6.53 Validity of contracts procured from unauthorized insurers
  Insurance contracts procured as "surplus lines" coverages from unauthorized insurers in accordance with this law shall be fully valid and enforceable as to all parties. ...
• New Jersey Statutes 17:22-6.54 Liability of insurer
  If the unauthorized insurer has assumed the risk as to a surplus lines coverage placed under this surplus lines law, and if the premium therefor ...
• New Jersey Statutes 17:22-6.55a Advisory organizations
  a. Advisory surplus lines organizations of surplus lines agents may be formed to: (1) facilitate and encourage compliance by its members with the laws of ...
• New Jersey Statutes 17:22-6.57 Record of surplus lines contracts procured
  23. Each surplus lines agent shall keep in his office a full and true record of each surplus lines contract procured by him, ...
• New Jersey Statutes 17:22-6.58 Verified report of surplus lines insurance transacted
  24. Each surplus lines agent shall within 45 calendar days after the end of each calendar quarter file with the commissioner a verified ...
• New Jersey Statutes 17:22-6.59 Premium receipts tax for surplus lines coverages
  25. The premiums charged for surplus lines coverages are subject to a premium receipts tax of 3% of all gross premiums less any ...
• New Jersey Statutes 17:22-6.60 Suit for tax
  If the tax payable by a surplus lines agent under this surplus lines law is not so paid within the time prescribed, the same shall ...
• New Jersey Statutes 17:22-6.61 Suspension, revocation, refusal to renew license of surplus lines agents
  27. The commissioner may suspend, revoke, or refuse to renew the license of a surplus lines agent and all other licenses and permits ...
• New Jersey Statutes 17:22-6.62 Revocation for failure to file report or pay taxes; procedure; review
  If any licensed surplus lines agent fails to file the quarterly report required or pay the taxes as required of him under this surplus lines ...
• New Jersey Statutes 17:22-6.63 Lawsuits against unauthorized insurer
  29. An unauthorized insurer which has not been made eligible as a surplus lines insurer by the commissioner in accordance with section 11 ...
• New Jersey Statutes 17:22-6.64 Report of insurance through unauthorized foreign, alien insurer
  30. Every insured who in this State procures or causes to be procured or continues or renews insurance with an unauthorized foreign or ...
• New Jersey Statutes 17:22-6.65 Production of records and information upon order of commissioner
  Every person by or as to whom insurance is procured or placed in an unauthorized insurer, upon the commissioner's order shall produce for his examination ...
• New Jersey Statutes 17:22-6.66 Partial invalidity
  If any clause, sentence, paragraph, section or part of this act shall be adjudged by any court of competent jurisdiction to be invalid, such judgment ...
• New Jersey Statutes 17:22-6.67 Effective date
  This action shall take effect immediately except that sections 1 and 2 shall not take effect until November 1, 1960. L.1960, c.32, p. 125, s.33. ...
• New Jersey Statutes 17:22-6.68 Repeal
  Section 21 of "An act relating to the licensing, regulation and supervision of insurance agents, insurance brokers and insurance solicitors, supplementing chapters 22, 32 and ...
• New Jersey Statutes 17:22-6.69 Repeal
  Sections 2, 3, 4, 5, 6 and 7 of "An act to amend and supplement "An act relating to the licensing, regulation and supervision of ...
• New Jersey Statutes 17:22-6.70 Short title
  This act shall be known and may be cited as the "New Jersey Surplus Lines Insurance Guaranty Fund Act." L.1984, c.101, s. 1, eff. July ...
• New Jersey Statutes 17:22-6.71 Purpose, application of act.
  2. The purpose of this act is to provide a mechanism for the payment of covered claims under certain insurance policies issued ...
• New Jersey Statutes 17:22-6.72 Definitions relative to the Surplus Lines Insurance Guaranty Fund.
  3. Affiliate" means a person who directly, or indirectly, through one or more intermediaries, controls, is controlled by, or is under common ...
• New Jersey Statutes 17:22-6.73 Surplus Lines Insurance Guaranty Fund.
  4. There is created a private, nonprofit, unincorporated, legal entity to be known as the New Jersey Surplus Lines Insurance Guaranty Fund. ...
• New Jersey Statutes 17:22-6.74 Powers, duties and obligations of the Surplus Lines Insurance Guaranty Fund.
  5. a. The fund shall: (1) Be obligated to the extent of the covered claims against an insolvent insurer incurred ...
• New Jersey Statutes 17:22-6.75 Financial support; surcharges; loans
  a. In order to provide the monies necessary to meet the fund's obligations and expenses under this act: (1) Each member insurer, including a surplus ...
• New Jersey Statutes 17:22-6.76 Suspension of eligibility of member insurer or license of surplus lines agent; interest on unpaid assessment or surcharge; reinstatement
  The commissioner may, after notice, suspend the eligibility of a member insurer or the license of a surplus lines agent that fails to pay an ...
• New Jersey Statutes 17:22-6.77 Declaration of insolvency, actions of commissioner.
  8. a. An insolvent insurer shall forward to the commissioner and to the association a copy of the declaration of insolvency within three ...
• New Jersey Statutes 17:22-6.78 Assignment of rights by person recovering.
  9. a. Any person recovering under this act shall be deemed to have assigned his rights under the policy from which the claim ...
• New Jersey Statutes 17:22-6.79 Recovery of covered claims, exhaustion of other sources.
  10. a. Any person having a covered claim that may be recovered from more than one insurance guaranty association, or its equivalent, shall ...
• New Jersey Statutes 17:22-6.80 Examination of insurers in financial condition hazardous to policyholders or public; request to domiciliary jurisdiction for examination and report
  In the event the commissioner has sufficient basis to believe that the financial condition of a member insurer is hazardous to the policyholders or the ...
• New Jersey Statutes 17:22-6.81 Examination and regulation of fund; financial report
  The fund shall be subject to examination and regulation by the commissioner. The association, on behalf of the fund, shall submit, not later than March ...
• New Jersey Statutes 17:22-6.82 Immunity from liability of persons acting under this law
  There shall be no liability on the part of, and no cause of action of any nature shall arise against any member insurer, the fund, ...
• New Jersey Statutes 17:22-6.83 Coverage under this act; notice on application and policy or certificate; advertisement
  A member insurer shall include on the application and on the face of the policy or certificate for insurance subject to this act, a notice ...
• New Jersey Statutes 17:22-6.84 Proceedings involving insolvent insurer stayed; conditions.
  7. All proceedings in which the insolvent insurer is a party or is obligated to defend a party in any court ...
• New Jersey Statutes 17:22A-26 Short title
  1. This act shall be known and may be cited as the "New Jersey Insurance Producer Licensing Act of 2001." ...
• New Jersey Statutes 17:22A-27 Purpose of act
  2. This act governs the qualifications and procedures for the licensing of insurance producers. It simplifies and organizes the statutory law to ...
• New Jersey Statutes 17:22A-28 Definitions relative to licensure of insurance producers
  3. As used in this act: "Business entity" means a corporation, association, partnership, limited liability company, limited liability partnership, or ...
• New Jersey Statutes 17:22A-29 Licensure required
  4. A person shall not sell, solicit or negotiate insurance in this State unless the person is licensed for that line of ...
• New Jersey Statutes 17:22A-30 Construction of act; license not required
  5. a. Nothing in this act shall be construed to require an insurer to obtain an insurance producer license. In this section, the ...
• New Jersey Statutes 17:22A-31 Written examination, fee
  6. a. A resident individual applying for an insurance producer license shall pass a written examination unless exempt pursuant to section 10 of ...
• New Jersey Statutes 17:22A-32 Application, approval.
  7. a. An individual applying for a resident insurance producer license shall make application to the commissioner on the uniform application and declare ...
• New Jersey Statutes 17:22A-33 Issuance of resident insurance producer license
  8. a. Unless denied licensure pursuant to section 15 of this act, persons who have met the requirements of sections 6 and 7 ...
• New Jersey Statutes 17:22A-34 Nonresident insurance producer license
  9. a. Unless denied licensure pursuant to section 15 of this act, a nonresident person shall receive a nonresident insurance producer license if: ...
• New Jersey Statutes 17:22A-35 Exemptions from prelicensing education, examination
  10. a. An individual who applies for an insurance producer license in this State who was previously licensed for the same lines of ...
• New Jersey Statutes 17:22A-36 Notification of assumed name
  11. An insurance producer doing business under any name other than the producer's legal name shall notify the commissioner prior to using the ...
• New Jersey Statutes 17:22A-37 Temporary license
  12. a. The commissioner may issue a temporary insurance producer license for a period not to exceed 180 days without requiring an examination ...
• New Jersey Statutes 17:22A-38 Requirements for license granting surplus lines authority
  13. a. No license granting surplus lines authority shall be issued or renewed unless the applicant holds or will hold property and casualty ...
• New Jersey Statutes 17:22A-39 Insurance marketed through limited lines insurance producers
  14. The commissioner shall establish, by rule or regulation, the line or lines of insurance that may be marketed through a limited lines ...
• New Jersey Statutes 17:22A-40 Causes for probation, suspension, revocation, refusal to renew
  15. a. The commissioner may place on probation, suspend, revoke or refuse to issue or renew an insurance producer's license or may levy ...
• New Jersey Statutes 17:22A-41 Licensure required for receipt of commission
  16. a. An insurer or insurance producer shall not pay a commission, service fee, brokerage or other valuable consideration to a person for ...
• New Jersey Statutes 17:22A-41.1 Notification by insurance producer to purchaser of compensation received by producer.
  25. a. An insurance producer licensed pursuant to P.L.2001, c.210 (C.17:22A-26 et al.) who sells, solicits, or negotiates health insurance policies or contracts ...
• New Jersey Statutes 17:22A-42 Appointment of agents
  17. a. Any insurer authorized to transact business in this State may, by written contract, appoint as its agent, a person that holds ...
• New Jersey Statutes 17:22A-43 Immunity from civil liability
  18. a. (1) In the absence of actual malice, an insurer, the authorized representative of the insurer, an insurance producer, the commissioner, or ...
• New Jersey Statutes 17:22A-44 Fees
  19. a. The commissioner shall, by regulation, set reasonable, necessary and appropriate fees to be charged for licensing insurance producers, filing agency appointments, ...
• New Jersey Statutes 17:22A-45 Powers of commissioner
  20. a. The commissioner shall have the power to conduct investigations, to administer oaths, to interrogate licensees and others, and to issue subpoenas ...
• New Jersey Statutes 17:22A-46 Fees, requirements for nonresident insurance producers, reciprocity
  21. a. The commissioner shall not assess a greater fee for an insurance producer license or related service to a person not residing ...
• New Jersey Statutes 17:22A-47 Reports to commissioner
  22. a. An insurance producer shall report to the commissioner any administrative action taken against the insurance producer in another jurisdiction or by ...
• New Jersey Statutes 17:22A-48 Rules, regulations
  26. a. The commissioner may, in accordance with the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.) promulgate rules and regulations necessary to ...
• New Jersey Statutes 17:22B-1 Short title
  1. This act shall be known and may be cited as the "Public Adjusters' Licensing Act." L.1993,c.66,s.1. ...
• New Jersey Statutes 17:22B-2 Definitions
  2. As used in this act: "Commissioner" means the Commissioner of Insurance. "Department" means the Department of Insurance. "Public adjuster" or "adjuster" means any individual, ...
• New Jersey Statutes 17:22B-3 License required for adjuster
  3. a. No individual, firm, association or corporation shall act as an adjuster in this State unless authorized to do so by virtue of a ...
• New Jersey Statutes 17:22B-4 Nonapplicability of act
  4. a. Nothing contained in this act applicable to public adjusters shall apply to any employee, agent, or other representative of any authorized insurer who ...
• New Jersey Statutes 17:22B-5 Issuance of license
  5. The commissioner may issue a public adjuster's license to any individual, firm, association or corporation, hereinafter designated as the licensee, who, or which, is ...
• New Jersey Statutes 17:22B-6 Application requirements
  6. a. Before any license or any renewal thereof shall be issued by the commissioner, there shall be filed in his office a written application ...
• New Jersey Statutes 17:22B-7 Written examination
  7. a. The commissioner shall require every individual applicant and each sublicensee to take and pass a written examination to his satisfaction, except in the ...
• New Jersey Statutes 17:22B-8 License granted without examination, prior experience
  8. a. Upon payment of the prescribed fee as provided in this act, a person who has been employed as or acted as a public ...
• New Jersey Statutes 17:22B-9 License fees
  9. For applications made during the first year of operation of this act, there shall be paid to the commissioner by each individual applicant and ...
• New Jersey Statutes 17:22B-10 License renewal
  10. Every adjuster's license issued pursuant to this act may be renewed upon the filing of an application in conformity with section 6 of this ...
• New Jersey Statutes 17:22B-11 Issuance of supplemental, temporary licenses
  11. a. Any firm, association, or corporation licensed as an adjuster under this act may at any time apply to the commissioner for the issuance ...
• New Jersey Statutes 17:22B-12 Bond required for licensure
  12. No adjuster's license or renewal license shall be issued to an applicant unless there shall be on file with the commissioner a bond, executed ...
• New Jersey Statutes 17:22B-13 Prohibited practices
  13. No individual, firm, association or corporation licensed under this act shall: a. enter into any agreement, oral or written, with an insured to negotiate ...
• New Jersey Statutes 17:22B-14 Refusal to issue or renew license, revocation; conditions
  14. a. The commissioner may refuse to issue or renew a license, or suspend or revoke any adjuster's license if, after notice and opportunity for ...
• New Jersey Statutes 17:22B-15 One-year waiting period after revocation
  15. No individual, firm, association or corporation whose license has been so revoked, and no firm or association of which the individual is a member, ...
• New Jersey Statutes 17:22B-16 Notice to applicant of rejection, suspension or revocation
  16. If an application for a license under this act is rejected, or if any license is suspended or revoked by the commissioner, he shall ...
• New Jersey Statutes 17:22B-17 Violations; civil penalties
  17. Any person violating any provision of this act shall, in addition to any other sanctions provided by law, be liable to a civil penalty ...
• New Jersey Statutes 17:22B-18 Additional fees
  18. a. The commissioner shall set reasonable, necessary and appropriate fees, other than licensure fees under section 9 of this act, to effectuate the purposes ...
• New Jersey Statutes 17:22B-19 Licenses remain property of State
  19. a. All licenses shall at all times be the property of the State of New Jersey and upon any suspension, revocation, refusal to renew, ...
• New Jersey Statutes 17:22B-20 Rules, regulations
  20. The commissioner may promulgate any rules and regulations as may be necessary to effectuate the purposes of this act pursuant to the "Administrative Procedure ...
• New Jersey Statutes 17:22C-1 Definitions
  1. For the purposes of this act: "Commissioner" means the Commissioner of Insurance. "Insurer" means: a. Any corporation, association, partnership, reciprocal exchange, interinsurer, Lloyd's insurer, ...
• New Jersey Statutes 17:22C-2 Licensing for domestic risks as insurance producer required
  2. No person, firm, association or corporation shall act in the capacity of a managing general agent with respect to risks located in this State ...
• New Jersey Statutes 17:22C-3 Licensing for foreign risks
  3. No person, firm, association or corporation shall act in the capacity of a managing general agent representing an insurer domiciled in this State with ...
• New Jersey Statutes 17:22C-4 Bond required
  4. The commissioner may require a bond in an amount acceptable to him for the protection of the insurer. L.1993,c.237,s.4. ...
• New Jersey Statutes 17:22C-5 Errors, omissions policy
  5. The commissioner may require the managing general agent to maintain an errors and omissions policy in a form and amount acceptable to the commissioner. ...
• New Jersey Statutes 17:22C-6 Contract requirements for managing general agents
  6. No person, firm, association, or corporation acting in the capacity of a managing general agent shall place business with an insurer unless there is ...
• New Jersey Statutes 17:22C-7 Audit; loss reserve opinion, on-site procedural audit
  7. a. The insurer shall conduct and have on file an independent audit in a form acceptable to the commissioner of each managing general agent ...
• New Jersey Statutes 17:22C-8 Acts of managing general agent considered acts of insurer
  8. The acts of the managing general agent are considered to be the acts of the insurer on whose behalf it is acting. A managing ...
• New Jersey Statutes 17:22C-9 Violations; penalties; summary proceedings
  9. a. If the commissioner finds after notice and opportunity for a hearing that any person has violated any provision of this act, the commissioner ...
• New Jersey Statutes 17:22C-10 Rules, regulations
  10. The commissioner may promulgate rules and regulations as are necessary to effectuate the purposes of this act. L.1993,c.237,s.10. ...
• New Jersey Statutes 17:22D-1 Definitions
  1. For purposes of this act: "Accredited state" means a state in which the insurance department or other regulatory agency has qualified as meeting the ...
• New Jersey Statutes 17:22D-2 Application of act
  2. a. This act shall apply to licensed insurers which are domiciled in this State or domiciled in a state that is not an accredited ...
• New Jersey Statutes 17:22D-3 Application of provisions of section; controlled business, regulated
  3. a. The provisions of this section shall apply if, in any calendar year, the aggregate amount of gross written premium on business ...
• New Jersey Statutes 17:22D-4 Written notice of relationship between controlling producer, controlled insurer; exception
  4. The controlling producer, prior to the effective date of the policy, shall deliver written notice to the prospective insured disclosing the relationship between the ...
• New Jersey Statutes 17:22D-5 Noncompliance; penalties
  5. a. (1) Upon a finding that the controlling producer or any other person has not complied with this act, or any regulation or order ...
• New Jersey Statutes 17:22D-6 Rules, regulations
  6. The commissioner may, pursuant to the provisions of the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), promulgate rules and regulations as are necessary ...
• New Jersey Statutes 17:22E-1 Definitions
  1. As used in this act: "Commissioner" means the Commissioner of Insurance. "Controlling person" means a person which directly or indirectly has the power to ...
• New Jersey Statutes 17:22E-2 Licensing of intermediary-broker, intermediary-manager
  2. a. No person shall act as a reinsurance intermediary-broker or reinsurance intermediary-manager in this State unless licensed as a producer in this State. b. ...
• New Jersey Statutes 17:22E-3 Requirements for intermediary-manager
  3. The commissioner may require a reinsurance intermediary-manager to: a. File a bond in an amount and from an insurer acceptable to the commissioner for ...
• New Jersey Statutes 17:22E-4 Authorization to act as reinsurance intermediary
  4. a. The commissioner shall authorize a person to act as a reinsurance intermediary if that person has complied with the requirements of this act. ...
• New Jersey Statutes 17:22E-5 Refusal of authorization
  5. The commissioner may refuse to authorize a person to act as a reinsurance intermediary if, in his judgment, the person, anyone named on the ...
• New Jersey Statutes 17:22E-6 Written contract required for transactions between reinsurance intermediary-broker, insurer
  6. Transactions between a reinsurance intermediary-broker and the insurer it represents in that capacity shall only be entered into pursuant to a written contract, specifying ...
• New Jersey Statutes 17:22E-7 Records of transactions
  7. For at least 10 years after the expiration of each contract of reinsurance transacted by the reinsurance intermediary-broker, the reinsurance intermediary-broker shall keep a ...
• New Jersey Statutes 17:22E-8 Access to intermediary-broker records by insurer
  8. The insurer shall have access and the right to copy and audit all accounts and records maintained by the reinsurance intermediary-broker related to its ...
• New Jersey Statutes 17:22E-9 Authorization as reinsurance intermediary-broker required
  9. An insurer shall not engage the services of any person to act as a reinsurance intermediary-broker on its behalf unless that person is authorized ...
• New Jersey Statutes 17:22E-10 Employment restrictions
  10. An insurer shall not employ an individual who is employed by a reinsurance intermediary-broker with which it transacts business, unless the reinsurance intermediary-broker is ...
• New Jersey Statutes 17:22E-11 Annual statement of financial condition to insurer
  11. A reinsurance intermediary-broker shall annually send a copy of statements of its financial condition to each insurer with which it transacts business. L.1993,c.244,s.11. ...
• New Jersey Statutes 17:22E-12 Written contract required for transactions between reinsurance intermediary-manager and reinsurer
  12. Transactions between a reinsurance intermediary-manager and the reinsurer it represents in that capacity shall only be entered into pursuant to a written contract, specifying ...
• New Jersey Statutes 17:22E-13 Prohibitions for reinsurance intermediary-manager
  13. The reinsurance intermediary-manager shall not: a. Cede retrocessions on behalf of the reinsurer, except that the reinsurance intermediary-manager may cede facultative retrocessions pursuant to ...
• New Jersey Statutes 17:22E-14 Authorization as reinsurance intermediary-manager required
  14. A reinsurer shall not engage the services of any person to act as a reinsurance intermediary-manager on its behalf unless such person is authorized ...
• New Jersey Statutes 17:22E-15 Annual statement of financial condition to reinsurer
  15. A reinsurance intermediary-manager shall annually send a copy of statements of its financial condition to each reinsurer with which it transacts business. Such statements ...
• New Jersey Statutes 17:22E-16 Adequacy of loss reserves
  16. If a reinsurance intermediary-manager establishes loss reserves, the reinsurer shall annually, or more frequently at the commissioner's discretion, obtain the opinion of an actuary ...
• New Jersey Statutes 17:22E-17 Binding authority for retrocessional contracts, reinsurance syndicates
  17. Binding authority for all retrocessional contracts or participation in reinsurance syndicates shall rest with an officer of the reinsurer who shall not be affiliated ...
• New Jersey Statutes 17:22E-18 Written notice of contract termination
  18. Within 15 days of termination of a contract with a reinsurance intermediary-manager, the reinsurer shall provide written notification of that termination to the commissioner. ...
• New Jersey Statutes 17:22E-19 Restrictions on appointment of board of directors
  19. A reinsurer shall not appoint to its board of directors any officer, director, employee, controlling shareholder or subproducer of its reinsurance intermediary-manager. This section ...
• New Jersey Statutes 17:22E-20 Examination of reinsurance intermediary
  20. A reinsurance intermediary shall be subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts and records of ...
• New Jersey Statutes 17:22E-21 Violations; penalties
  21. a. If the commissioner finds, after notice and opportunity for a hearing, that a reinsurance intermediary, insurer or reinsurer is in violation of any ...
• New Jersey Statutes 17:22E-22 Rights not restricted, limited
  22. Nothing contained in this act is intended to or shall in any manner limit or restrict the rights of policyholders, claimants, creditors or other ...
• New Jersey Statutes 17:22E-23 Rules, regulations
  23. The commissioner may promulgate rules and regulations pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.), as may be necessary to effectuate ...
• New Jersey Statutes 17:23-1 Statements; format; preparation
  17:23-1. Every insurance company transacting business in this State shall annually, on or before March 1, file in the department a statement, subscribed ...
• New Jersey Statutes 17:23-2 Penalty for not filing annual statement
  A company neglecting to make and file its annual statement in the form and within the time provided by section 17:23-1 of this Title shall ...
• New Jersey Statutes 17:23-8 Short title
  This act shall be known and may be cited as the "Motor Vehicle Theft and Motor Vehicle Insurance Fraud Reporting--Immunity Act." L.1983, c. 214, s. ...
• New Jersey Statutes 17:23-9 Definitions
  As used in this act: a. "Authorized governmental agency" means the Department of Insurance, any law enforcement agency, or any agency or instrumentality of the ...
• New Jersey Statutes 17:23-10 Release of information by insurer to governmental agency
  Upon written request by an authorized governmental agency, an insurer or its authorized agent shall release to the requesting authorized governmental agency relevant information deemed ...
• New Jersey Statutes 17:23-11 Knowledge of theft or insurance fraud; notification to governmental agency
  a. When an insurer knows or has reason to know the identity of a person whom it has reason to believe committed a criminal or ...
• New Jersey Statutes 17:23-12 Release of information between governmental agencies
  An authorized governmental agency provided with information pursuant to section 3 or 4 of this act may release or provide that information to any other ...
• New Jersey Statutes 17:23-13 Request by insurer for information from governmental agency; civil actions
  An insurer providing information to an authorized governmental agency pursuant to section 3 or 4 of this act shall, with respect to a civil action, ...
• New Jersey Statutes 17:23-14 Privileged nature of furnished information
  Information furnished pursuant to this act shall be privileged and not a part of any public record. Except as may be required by law other ...
• New Jersey Statutes 17:23-15 Civil liability
  No insurer or its authorized agent, authorized governmental agency or their respective employees shall be subject to any civil liability in a cause of action ...
• New Jersey Statutes 17:23-16 Alcohol related claims; statistics
  a. Insurers authorized to do business in this State, who issue policies covering liquor law liability for insureds in this State, shall maintain separately statistics ...
• New Jersey Statutes 17:23-17 Report
  Annually, on or before the anniversary of the effective date of this act, the insurers to which section 1 applies shall report that statistical information ...
• New Jersey Statutes 17:23-18 Examination of reports; report; recommendations
  a. The Commissioner of Insurance shall examine the reports required by this act and determine whether the loss experience due to alcohol related claims indicates ...
• New Jersey Statutes 17:23-19 National Automobile Theft Bureau
  a. Any insurer transacting automobile insurance in this State shall: (1) report the theft or salvage of a motor vehicle to the National Automobile Theft ...
• New Jersey Statutes 17:23-20 Purpose of act
  1. The purpose of this act is to provide an effective and efficient system for examining the activities, operations, financial condition and affairs of all ...
• New Jersey Statutes 17:23-21 Definitions
  2. As used in this act: "Commissioner" means the Commissioner of Insurance. "Company" means any insurer or other person engaging in or proposing or attempting ...
• New Jersey Statutes 17:23-22 Examination by commissioner
  3. a. The commissioner or any of his examiners may conduct an examination of the assets and liabilities, method of conducting business and all other ...
• New Jersey Statutes 17:23-23 Examination procedures, regulations
  4. a. Upon determining that an examination should be conducted, the commissioner or the commissioner's designee shall issue an examination warrant appointing one or more ...
• New Jersey Statutes 17:23-24 Examination reports
  5. a. All examination reports shall be comprised of only facts appearing upon the books, records, or other documents of the company, its officers, directors, ...
• New Jersey Statutes 17:23-25 Conflicts of interest for examiner
  6. No examiner shall be appointed by the commissioner if such examiner, either directly or indirectly, has a conflict of interest or is affiliated with ...
• New Jersey Statutes 17:23-26 Immunity from liability; awards
  7. a. No cause of action shall arise nor shall any liability be imposed against the commissioner, the commissioner's authorized representatives or any examiner appointed ...
• New Jersey Statutes 17:23A-1 Insurers, persons covered by act
  The obligations imposed by this act shall apply to those insurance institutions, agents or insurance-support organizations which, on or after the effective date of this ...
• New Jersey Statutes 17:23A-2 Definitions
  Definitions. As used in this act: a. "Adverse underwriting decision" means: (1) Any of the following actions with respect to insurance transactions involving insurance coverage ...
• New Jersey Statutes 17:23A-3 Pretext interviews
  Pretext interviews. No insurance institution, agent or insurance-support organization shall use or authorize the use of pretext interviews to obtain information in connection with an ...
• New Jersey Statutes 17:23A-4 Notice of insurance information practices
  Notice of insurance information practices. a. An insurance institution or agent shall provide a notice of information practices to all applicants or policyholders in connection ...
• New Jersey Statutes 17:23A-5 Marketing and research surveys
  Marketing and research surveys. An insurance institution or agent shall clearly specify those questions designed to obtain information solely for marketing or research purposes from ...
• New Jersey Statutes 17:23A-6 Content of disclosure authorization forms
  Content of disclosure authorization forms. Notwithstanding any other provision of law in this State, no insurance institution, agent or insurance-support organization shall utilize as its ...
• New Jersey Statutes 17:23A-7 Investigative consumer reports
  Investigative consumer reports. a. No insurance institution, agent or insurance-support organization may prepare or request an investigative consumer report about an individual in connection with ...
• New Jersey Statutes 17:23A-8 Access to recorded personal information
  Access to recorded personal information. a. If any individual, after proper identification, submits a written request to an insurance institution, agent or insurance-support organization for ...
• New Jersey Statutes 17:23A-9 Correction, amendment or deletion of recorded personal information
  Correction, amendment or deletion of recorded personal information. a. Within 30 business days from the date of receipt of a written request from an individual ...
• New Jersey Statutes 17:23A-10 Reasons for adverse underwriting decisions
  Reasons for adverse underwriting decisions. a. In the event of an adverse underwriting decision the insurance institution or agent responsible for the decision shall: (1) ...
• New Jersey Statutes 17:23A-11 Information concerning previous adverse underwriting decisions
  Information concerning previous adverse underwriting decisions. No insurance institution, agent or insurance-support organization may seek information in connection with an insurance transaction concerning: a. Any ...
• New Jersey Statutes 17:23A-12 Previous adverse underwriting decisions
  Previous adverse underwriting decisions. No insurance institution or agent may base an adverse underwriting decision in whole or in part: a. On the fact of ...
• New Jersey Statutes 17:23A-13 Disclosure limitations and conditions
  Disclosure limitations and conditions. An insurance institution, agent or insurance-support organization shall not disclose any personal or privileged information about an individual collected or received ...
• New Jersey Statutes 17:23A-13.1 Notification of test results by insurer to applicants; "reportable communicable disease" defined.
  1. An insurer who requires an applicant for insurance to submit to medical testing as a condition of issuing, extending or renewing ...
• New Jersey Statutes 17:23A-13.2 Regulations.
  2. The Commissioner of Banking and Insurance, in consultation with the Commissioner of Health and Senior Services, shall adopt regulations pursuant to ...
• New Jersey Statutes 17:23A-13.3 Disclosure of information relative to victim of domestic violence prohibited; exceptions.
  3. An insurer or insurance producer shall not disclose any personal or privileged information collected or received in connection with an insurance ...
• New Jersey Statutes 17:23A-14 Power of commissioner
  Power of commissioner. a. The commissioner shall have power to examine and investigate into the affairs of every insurance institution or agent doing business in ...
• New Jersey Statutes 17:23A-15 Hearings, witnesses, appearances, production of books and service of process
  Hearings, witnesses, appearances, production of books and service of process. a. Whenever the commissioner has reason to believe that an insurance institution, agent or insurance-support ...
• New Jersey Statutes 17:23A-16 Service of process--insurance-support organizations
  Service of process--insurance-support organizations. For the purpose of this act, an insurance-support organization transacting business outside this State which has an effect on a person ...
• New Jersey Statutes 17:23A-17 Cease and desist orders and reports
  Cease and desist orders and reports. a. If, after a hearing pursuant to section 15, the commissioner determines that the insurance institution, agent or insurance-support ...
• New Jersey Statutes 17:23A-18 Penalties
  Penalties. a. In any case where a hearing pursuant to section 15 results in the finding of a knowing violation of this act, the commissioner ...
• New Jersey Statutes 17:23A-19 Judicial review of orders and reports
  Judicial review of orders and reports. a. Any person subject to an order of the commissioner under section 17 or section 18 or any person ...
• New Jersey Statutes 17:23A-20 Individual remedies
  Individual remedies. a. If any insurance institution, agent or insurance-support organization fails to comply with section 8, 9 or 10 of this act with respect ...
• New Jersey Statutes 17:23A-21 Immunity
  Immunity. No cause of action in the nature of defamation, invasion of privacy or negligence shall arise against any person for disclosing personal or privileged ...
• New Jersey Statutes 17:23A-22 Obtaining information under false pretenses
  Obtaining information under false pretenses. Any person who knowingly and willfully obtains information about an individual from an insurance institution, agent or insurance-support organization under ...
• New Jersey Statutes 17:23B-1 Definitions
  1. For purposes of this act: "Commissioner" means the Commissioner of Insurance. "Department" means the Department of Insurance. "Insurer" means: a. A corporation, association, partnership, ...
• New Jersey Statutes 17:23B-2 Filing of information with NAIC
  2. a. Every insurer authorized to do business in this State shall annually, on or before March 1 of each year, file with the NAIC ...
• New Jersey Statutes 17:23B-3 Immunity from civil liability
  3. Members of the NAIC, their duly authorized committees, subcommittees, and task forces, their delegates, NAIC employees, and all others charged with the responsibility of ...
• New Jersey Statutes 17:23B-4 Confidentiality
  4. All financial analysis ratios and examination synopses concerning insurers that are submitted to the department by the NAIC Insurance Regulatory Information System are confidential ...
• New Jersey Statutes 17:23B-5 Violations; penalties
  5. a. The commissioner may suspend, revoke or refuse to renew the certificate of authority of any insurer or other entity that fails to file ...
• New Jersey Statutes 17:23C-1 Findings, declarations relative to compliance review of insurance carriers
  1. a. The Legislature finds and declares that it is in the public interest for insurance carriers in this State to conduct voluntary ...
• New Jersey Statutes 17:23C-2 Definitions relative to compliance reviews of insurance carriers
  2. As used in this act: "Department" means the Department of Banking and Insurance. "Enforcement action" means a ...
• New Jersey Statutes 17:23C-3 Voluntary compliance review report privileged
  3. A voluntary compliance review report shall be privileged and neither it nor its existence shall be discoverable or admissible as evidence ...
• New Jersey Statutes 17:23C-4 Privilege regarding preparation of report
  4. Persons involved in the preparation of a voluntary compliance review report shall not be required to give answers to any questions ...
• New Jersey Statutes 17:23C-5 Limited disclosure, circumstances
  5. a. The provisions of sections 3 and 4 of this act shall not apply if: (1) an enforcement action is ...
• New Jersey Statutes 17:23C-6 Reports placed under seal at conclusion of enforcement action
  6. At the conclusion of an enforcement action in which a court or administrative law judge determines that an insurance carrier has ...
• New Jersey Statutes 17:23C-7 Materials not considered privileged
  7. The following materials described in this section shall not become privileged pursuant to the provisions of sections 3 and 4 of ...
• New Jersey Statutes 17:23C-8 Inadmissibility of privileged information
  8. No person shall use any information privileged pursuant to this act to discover any other information and any information so discovered ...
• New Jersey Statutes 17:23C-9 Privileges unaffected
  9. Nothing in this act shall limit, waive or abrogate the scope or nature of any statutory or common law privilege, including, ...
• New Jersey Statutes 17:23C-10 Circumvention prohibited
  10. No regulatory agency shall adopt a rule for the purpose of circumventing the privilege established in this act by requiring disclosure of ...
• New Jersey Statutes 17:23C-11 Continuing privilege of disclosed information
  11. a. If an insurance carrier timely discloses information it obtained from a voluntary compliance review to the department or to another appropriate ...
• New Jersey Statutes 17:23C-12 Construction of act relative to third party access
  12. Nothing in this act shall be construed to permit any third party access to any voluntary compliance review report subject to the ...
• New Jersey Statutes 17:23C-13 Production of documents not a waiver of privilege; penalty
  13. a. The department may require production of any document from an insurance carrier through timely disclosure or pursuant to compulsion of law, ...
• New Jersey Statutes 17:24-1 Investments by insurance companies generally.
  ...
• New Jersey Statutes 17:24-1.1 Written plan for acquiring, holding investments, investment practices.
  2. a. An insurer's board of directors shall adopt a written plan for acquiring and holding investments and for engaging in investment practices ...
• New Jersey Statutes 17:24-1.2 Actions prohibited by insurer without prior approval; exceptions.
  3. a. (1) Except as provided in subsection b. of this section, an insurer shall not, without the prior written approval of the ...
• New Jersey Statutes 17:24-3 Accepting or acquiring corporate stock or other securities or property
  Nothing contained in this chapter shall be construed to prohibit an insurance company from accepting or acquiring corporate stock or evidences of indebtedness or other ...
• New Jersey Statutes 17:24-5 Valuation of bonds
  All bonds or other evidences of debt held by an insurance corporation authorized to do business in this state may, if amply secured and not ...
• New Jersey Statutes 17:24-5.1 Valuation of securities held by insurance company; violations; penalties
  4. Except as otherwise required by the commissioner, securities held by an insurance company transacting business in this State in accordance with the provisions of ...
• New Jersey Statutes 17:24-6 Marine insurance companies; additional investments
  Any company organized for the purpose of marine insurance may also lend its funds on bottomry and respondentia bonds and change and reinvest the same. ...
• New Jersey Statutes 17:24-7 Title insurance companies; dealing in real estate mortgages; issuing obligations
  A company organized under chapters seventeen to thirty-three of this Title (s. 17:17-1 et seq.), to transact the business authorized by paragraph "h" of section ...
• New Jersey Statutes 17:24-8 Additional investment permitted title insurance companies
  Any insurance company of this state, engaged in the business of insuring title to real estate, may also invest its capital or surplus, or both, ...
• New Jersey Statutes 17:24-9 Investment of surplus in stock of certain companies
  Any company, other than a life insurance company, organized and authorized to transact business under chapters 17 to 33 of this title (s. 17:17-1 et ...
• New Jersey Statutes 17:24-10 Investments in foreign securities
  Any insurance company of this State lawfully doing business in any foreign country may also invest its funds, to an amount not exceeding the value ...
• New Jersey Statutes 17:24-11 Bond and mortgage; sale or assignment of part with guaranty of payment; subordinate interests
  If a company incorporated under this subtitle has, prior to April eighteenth, one thousand nine hundred and thirty-two, under any provision thereof, purchased, obtained or ...
• New Jersey Statutes 17:24-12 Holding of securities within State; exceptions
  17:24-12. All securities of domestic insurers shall be held for safekeeping within the geographical limits of this State, except: a. Securities deposited with public officials ...
• New Jersey Statutes 17:24-13 Purpose of act; expenses of committee in investigation, analyses, and valuation of securities
  The purpose of this act is to provide a means of making funds not in excess of two hundred and fifty thousand dollars ($250,000.00) in ...
• New Jersey Statutes 17:24-14 Budget estimate<