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Code · New Jersey · Title 17 — Notice and Publication · Chapter 9A

17:9A-449. Assets kept separate, apart; priority of creditors

77 words·~1 min read·/nj/title-17/chapter-9a/17-9a-449

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68. a. Each foreign bank which is licensed to transact business in this State shall keep the assets of that business separate and apart from the assets of its business outside this State.
b. The creditors of the business in this State of a foreign bank which is licensed to transact business in this State shall be entitled to priority over other creditors with respect to the assets of the foreign banks's business in this State.
L.1996,c.17,s.68.
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