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

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 the authority to exercise any or all of the powers specified in para…

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 manner provided in section 198 of P.L. 1948, c. 67 (C. 17:9A-198), provide that a …

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, by a vote of not less than 2/3 of the managers then in office, adopt a resolution setting forth the proposed amen…

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 herein. L.1948, c. 67, p. 342, s. 199. Amended by L.1968, c. 415, s. 4; L.1973, c. 211, s. 5, eff. Jan. 1…

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 the business of a bank or savings bank in this State, except as provided in this act. B. The provisions of this act, except as…

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 efficient supervisory and regulatory structures and practices wi…

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 for the commissioner's approv…

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 or branch offices outside this State, subject to the conditions and limitations of s…

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 powers a bank chartered in this State has. L.1996,c.17,s.12.

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 office in this State, may establish and maintain additional bran…

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.

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 of a trust office, if the qualified bank files a written notice with the commissioner setting forth the name…

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 in office, authorize the execution of a merger agreement which shall contain the matters required to …

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 thereof, or in the respective assets thereof according to a fair v…

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 a savings bank on its establishment at the location to be occupied by the principal office of the savings b…

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 section 136. L.1948, c. 67, p. 343, s. 203.

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 of the savings banks which are parties to the merger. Notice of the mer…

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 the receiving savings bank, and the property and rights of each merging savings ba…

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 agreement, certified by the commissioner, may be recorded in the office of the …

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 the vote of at least 2/3 of all the managers, at a regular or at a special meeting called for the purpose upon no…

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 the savings bank as follows: (1) all bonds, notes and other obligations for the payment of money no…

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 certificate of authority pursuant to section 14. B. No savings bank shall use any part of its capital …

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 the commissioner approves the application therefor shall automatically terminate…

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 reserve which shall have been established by it pursuant to paragraph (4) of subsection A…

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 take shares of its own capital stock as security or additional security for a debt previously contracted in good …

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 of its own capital stock, except as a result of a merger or to prevent or minimize loss …

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 State any of the powers enumerated in paragraph (4) of section 24 of P.L.1948, c.67 (C.17:9A-24), pa…

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., no bank or savings bank shall have power to guarantee the obligations of others; or to…

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 in a manner hazardous to the citizens of this State or …

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 commissioner. L.1948, c. 67, p. 349, s. 214.

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 of his account with a banking institution checks and other instruments for the payment of money which are payable to him…

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 may be made from such account by check or otherwise, by any one or more of such c…

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 savings bank may change the location of its principal office or of a branch office located in this State to an…

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 such instruments…

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 give a good and sufficient undertaking, with such surety as shall be a…

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 banking institution to recognize the adverse claimant unless the adverse claimant shall either procure a restrai…

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 time the payment of all or any proportion of its demand or time deposits,…

17:9A-224.1 Savings account promotions conducted by bank. 1. a. A bank or savings bank may conduct a savings promotion provided that the bank or savings bank: (1) conducts the promotion in a manner so as to ensure that each entry has an equal chance of winning the designated priz…

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 in connection with the maintenance of a checking account when held …

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 its principal office to a location in this State then occupied by a branch office …

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 auxiliary office as an adjunct to its principal office, and not more than one auxiliary office as an adjunct t…

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 or hearing, or both, …

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 office established pursuant to this act shall be removed to a location outside the installation on which it has b…

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 provisions of law otherwise …

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 supplement. L.1961, c. 67, p. 585, s. 5.

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 from the office of the bank or savings bank to which such auxiliary office is an adjunct; nor shall any …