17:9A-213.1 Limitation on powers of banks, savings banks.
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/nj/title-17/chapter-9a/17-9a-213-1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
213.1. Except as in this act or otherwise by law provided, and except for letters of credit issued pursuant to N.J.S.12A:5-101 et seq., no bank or savings bank shall have power to guarantee the obligations of others; or to insure or indemnify against the acts, omissions, undertakings, liabilities or losses of others.
L.1948,c.67,s.213.1; amended 1997, c.395, s.11.