17:9A-49. Definitions
145 words·~1 min read·
/nj/title-17/chapter-9a/17-9a-49·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the purposes of this article.
"Reserve depositary" includes
(a)A Federal Reserve bank,
(b)A member of a Federal Reserve bank organized in a Federal Reserve district which includes all or any part of this State, which shall be approved by the commissioner as a reserve depositary,
(c)A bank which is not a member of the Federal Reserve System, but which shall be approved by the commissioner as a reserve depositary, and
(d)A member of a Federal Reserve bank organized in a Federal reserve district which does not include all or any part of this State; provided, such member is approved by the commissioner as a reserve depositary.
L.1948, c. 67, p. 231, s. 49. Amended by L.1951, c. 34, p. 140, s. 1; L.1979, c. 226, s. 7, eff. Oct. 12, 1979; L.1981, c. 373, s. 2, eff. Dec. 30, 1981.