Title 17, Title 17: CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

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 persons who effect a transaction. L.1995,c.117,s.3.

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 loan association, including a federally chartered savings bank; b. "Commissioner" means the Commissioner of Banking and Insurance; c. "…

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 a deposit account, describing the institution's policy with respect to when an account holder…

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 not more than $1,000.00 for each violation, up to a maximum of $5,000.00 in any one year,…

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 bank" shall have the meaning ascribed to it in section 1 of P.L.1982, c.9 (C.17:9A-8.1). "Commissio…

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 …

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 of the meeting of the members or stockholders, verified by the affidavit of t…

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 a public hearing if deemed by the commissioner to be necessar…

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 4 of this act or which …

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 commissioner may require, the commissioner shall notify the applicant as to whether the commissioner intend…

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 days after such approval in the same manner and places as requi…

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 the procedures and standards set forth in rules and regulations promulgated by…

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 of this act. L.1991,c.42,s.9.

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 in which they are authorized to operate by assuring the availability of essential financial …

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 withdrawals by negotiable or transferable instrument, payment orders of withdrawal, telephone transfers, or other sim…

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 Account at all offices of that depository institution where regular checking …

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 Consumer Checking Account on the same ba…

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 and make material available in the p…

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. Nothing in this act shall be construed to limit the rights or remedies which are otherwise available to the holder…

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 this act, or any regulation or order of the commissioner issued pursuant thereto, the commissioner may…

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 United States to engage in the business of making …

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 the United States to engage in the business of making unsecured loans, or…

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. The Board of Governors of the Federal Reserve System with respect to bank holding companies and…

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 its appropriate federal financial supervisory agency, it shall send a copy of the public sec…

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 the commissioner or his designee, who shall be ex officio the chair of the board, the Com…

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 a resource to the commissioner by developing and recommending to the commissioner ideas and programs to assist: (1) depository institut…

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. L.1991,c.294,s.5.

17:16R-1. Substitution of fiduciaries 1. A qualified fiduciary (herein "successor fiduciary") may be substituted in the place and stead of another qualified fiduciary (herein "original fiduciary") which is desirous of being discharged from acting further as fiduciary for one or m…

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 ex parte. The application shall contain information sufficient for the court to…

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 respect to the fiduciary capacities and relationships set forth in the application, wit…

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 to exercise fiduciary powers pursuant to section 28 of P.L.1948, c.67 (C.17:9A-28), a federally chartered bank authorized to e…

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 America or by any state to accept deposits of…

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 levied and retain for itself as compensation for its expenses and services…

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 in,…

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 senior or vulnerable customer's name. "Community setting" means a private residence or an…

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 customer's account to a la…

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 liable to the customer under any law or regulation or common law of this Stat…

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 internal reviews and audits of their operati…

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 agency, that information and the voluntary compliance revi…

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 provisions of this act. For the purpose of this section, "third party" means a person other than a Stat…

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 "Bank Holding Company Act of 1956," 12 U.S.C. s.1841. "Department" means the Departme…

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 in any legal action or administrative proceeding of any nature involving the depository institution or a…

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 or provide testimony regarding the existence, contents or conclusions of any volu…

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 is taken, that enforcement action is contested, and a court of competent jurisdiction, by order in accordance with the rules of disco…

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 because they are utilized or incorporated in a voluntary compliance review report: a. Documents, com…

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 shall be inadmissible in any action or proceeding. If a court or an ad…