17:16X-1. Definitions regarding subsidiary mergers
52 words·~1 min read·
/nj/title-17/chapter-16x/17-16x-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
1. For purposes of this act:
"Commissioner" means the Commissioner of Banking and Insurance.
"Financial institution" means a bank, savings bank or savings and loan association.
"Subsidiary" means a corporation, limited liability company, partnership or other entity in which a financial institution owns not less than 80% of that entity's equity.
L.2000,c.70,s.1.