17:14A-28. Bonding of directors, officers and employees; waiver
67 words·~1 min read·
/nj/title-17/chapter-14a/17-14a-28·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 requirements of R.S. 17:14A-27 for a period of one year, upon terms as he may deem appropriate, that the company is adequately capitalized and that a waiver will not otherwise endanger the financial condition of the company.
L.1983, c. 566, s. 17:14A-28.