17:9A-19. Communication terminal facility; capital requirements

204 words·~1 min read·/nj/title-17/chapter-9a/17-9a-19

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

19. A. Any bank or savings bank may, pursuant to a resolution of its board of directors or board of managers, establish and maintain branch offices, subject to the conditions and limitations of this article.

B. (Deleted by amendment, P.L.1996, c.17.)

(3)(Deleted by amendment.)

C. No bank shall hereafter establish a full branch office unless its capital shall equal or exceed the minimum capital established by the commissioner by regulation.

D. No savings bank shall hereafter establish a full branch office unless its capital shall equal or exceed the minimum capital established by the commissioner by regulation.

E. (Deleted by amendment.)

F. (Deleted by amendment.)

G. (Deleted by amendment.)

H. (Deleted by amendment.)

I. (Deleted by amendment.)

J. (Deleted by amendment.)

K. A bank or savings bank may establish a full branch office, a minibranch office, or communications terminal facility anywhere in this State.

L. Except as otherwise provided by law, no foreign bank shall establish, operate or maintain in this State any full branch office, minibranch office or communication terminal facility.

L.1948,c.67,s.19; amended 1948, c.408, s.1; 1952, c.220, s.1; 1965, c.171, s.6; 1968, c.415, s.1; 1973, c.211, s.1; 1975, c.148, s.2; 1980, c.20; 1981, c.24, s.1; 1996, c.17, s.3; 1999, c.252, s.2.