17:16M-8. Conversion of savings bank to State association
95 words·~1 min read·
/nj/title-17/chapter-16m/17-16m-8·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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 the commissioner pursuant to the "Administrative Procedure Act," P.L.1968, c.410 (C.52:14B-1 et seq.). These procedures and standards shall be at least equivalent to those established in sections 2 through 7 of this act concerning conversion of a State association into a savings bank, and may include any additional procedures and standards the commissioner may establish by regulation.
L.1991,c.42,s.8.