17:12B-8. Principal office; branch office; auxiliary office; remote service unit
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/nj/title-17/chapter-12b/17-12b-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(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, agency, or a remote service unit of the association.
(b)"Branch office" shall mean a legally established office of an association, other than the principal office, an auxiliary office, agency, or a remote service unit of the association, at which such operations as may be authorized by the board not inconsistent with the limitations of this act may be conducted.
(c)"Auxiliary office" shall mean a place of business other than the principal office, a branch office, agency, or a remote service unit of an association wherein operations of an association may be conducted within the limitations set forth in this act relating to auxiliary offices.
(d)(Deleted by amendment.)
(e)"Remote service unit" shall mean an information processing device, including associated equipment, structures and systems, by which information relating to financial services rendered to the public is stored and transmitted to a financial institution. The term includes, without limitation, both "on-line" computer terminals and "off-line" cash dispensing machines. It excludes automated teller machines or devices on the premises of an association, unless shared with other financial institutions.
L.1963, c. 144, s. 8. Amended by L.1975, c. 159, s. 1, eff. July 18, 1975; L.1981, c. 376, s. 1, eff. Dec. 31, 1981.