17:1-27 Prohibited actions.
167 words·~1 min read·
/nj/title-17/chapter-1/17-1-27A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
3. No bank, savings bank, State association, or any officer, director, employee, or major shareholder thereof, shall:
a. Fail to comply with an order or other written instruction of the commissioner or any other financial regulatory agency;
b. Violate a State or federal law;
c. Take any action, or fail to take an action, with the result that a material interest of the covered institution is adversely affected;
d. Be convicted of a crime that would permit adverse action by a governmental agency pursuant to P.L.1968, c.282 (C. 2A:168A-1 et seq.);
e. Provide incorrect, misleading, incomplete or untrue material information about the covered institution to the commissioner or any federal financial regulatory agency;
f. Withhold material information from the commissioner or any federal financial regulatory authority about the covered institution; or
g. Take an action, or fail to take an action, the result of which poses a substantial risk to the safety and soundness of the covered institution or may cause substantial damage to its reputation.
L.2005,c.195,s.3.