reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17:13-118 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13-118 - Continuation of business by commissioner; authority and powers

17:13-118. Continuation of business by commissioner; authority and powers  Upon taking possession of the property and business of a credit union, the commissioner may, pending the return of its property and business to the management of its board or the order or judgment of the Superior Court in an action instituted under sections 37 and 38 of this act or its dissolution as herein provided, continue the operation of the business of the credit union. For that purpose, the commissioner shall have and may exercise every authority and power theretofore conferred by law, by the provisions of its certificate of incorporation and by its bylaws upon its board and committees and upon all and any of its officers, directors and committee members. However, this section shall not be construed to deprive any credit union at any time of title to its property, and all transfers and conveyances of property to the credit union during the commissioner's possession thereof shall be made in its name and all transfers and conveyances of property from the credit union shall be made in the name of the credit union, under its seal or otherwise as the circumstances may require, by the commissioner. Any act or thing done by the credit union, during the commissioner's possession as aforesaid, over the signature of or by order of the commissioner shall be construed to be the act of the credit union and shall be valid and effectual in law if the statutes of this State, the certificate of incorporation of the credit union or its bylaws shall have authorized its board, committees, any director thereof, any committee member thereof or any officer thereof to do or perform any act. The commissioner shall not be obligated to carry on the business of the credit union in possession unless he deems it proper and expedient so to do but may, during his possession thereof, conserve its assets until a time as he shall determine it expedient and proper to continue the business or until otherwise directed by the Superior Court in an action instituted pursuant to sections 39 and 40 of this act or until its dissolution. L.1984, c. 171, s. 40, eff. Oct. 31, 1984.
NJ Rev Stat § 17:13-119 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13-119 - Assistant deputy commissioners; employment of counsel and other expert assistance; powers on receivership of commissioner and members

17:13-119. Assistant deputy commissioners; employment of counsel and other expert assistance; powers on receivership of commissioner and members  The commissioner may, under his hand and official seal, appoint one or more special assistant deputy commissioners as agent or agents to assist him in the operation of the business or conservation of the assets of any credit union in his possession; and the commissioner may, from time to time, delegate to any special assistant deputy commissioner the powers conferred on him by this act with respect to the operation of the business or conservation of the assets of the credit union in his possession as he may deem necessary. The commissioner may employ counsel, other expert assistance, or any other persons as shall in his opinion be needed for the continuation of the business or conservation of the assets of any credit union, and the compensations and salaries of all special assistant deputy commissioners, attorneys, expert assistants and other persons together with all other costs and expenses of a continuation of the business or conservation of the assets of the credit union shall be fixed by the commissioner and paid by the credit union and shall, until paid, constitute a prior claim against its assets. The commissioner shall require from special assistant deputy commissioners and other employees any security for the faithful performance of their respective duties as he may deem proper. Upon taking possession of any credit union the commissioner shall have power to terminate the employment of any employee of a credit union and no officer or director shall thereafter and until notified by the commissioner resume the exercise of any power in the management of the business or conduct of the affairs of the credit union. The commissioner shall have authority to call meetings of members for any purpose. The members present at any meeting may, by majority vote, and notwithstanding the provisions of the bylaws or certificate of incorporation of the credit union, and without showing cause, declare vacant the office of any director or committee member of the credit union and appoint a successor to fill the vacancy thus arising. L.1984, c. 171, s. 41, eff. Oct. 31, 1984.
NJ Rev Stat § 17:13-120 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13-120 - Notice of possession of business and property by commissioner; stay of levies and executions

17:13-120. Notice of possession of business and property by commissioner; stay of levies and executions  Upon taking possession of the property and business of any credit union, the commission shall give notice of this fact to all banks, trust companies, corporations, associations and individuals holding any assets of the credit union. No bank, trust company, corporation, association or individual who knows of the commissioner's taking possession or who has been notified pursuant to this section shall have a lien or charge for any payment, advance or clearance made thereafter or liability incurred thereafter against any of the assets of the credit union in his possession unless the payment, advance, clearance or liability has been authorized by the commissioner. Upon the commissioner's taking possession of the property and business of the credit union all judgments, decrees, levies and executions against the property of the credit union shall be thereafter stayed until otherwise directed by the Superior Court or until the property and business of the credit union has been returned to the management of its board. L.1984, c. 171, s. 42, eff. Oct. 31, 1984.
NJ Rev Stat § 17:13-121 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13-121 - Grievance with action of commissioner; court proceedings for injunction

17:13-121. Grievance with action of commissioner; court proceedings for injunction  Whenever any credit union or a member thereof deems itself or himself aggrieved by the commissioner's taking possession of that credit union, that credit union or member may at any time after the commissioner's taking possession, institute an action in the Superior Court to enjoin further proceedings. The court may proceed in a summary manner or otherwise. L.1984, c. 171, s. 43, eff. Oct. 31, 1984.
NJ Rev Stat § 17:13-123 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13-123 - Conversion to or from a federal credit union

17:13-123. Conversion to or from a federal credit union  A credit union organized under the provisions of this act may convert to operation as a federal Credit Union, or a federal Credit Union may convert to a credit union operating under the provisions of this act, without undergoing dissolution or liquidation. L.1984, c. 171, s. 45, eff. Oct. 31, 1985.
NJ Rev Stat § 17:13-124 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13-124 - Credit union advisory council.

17:13-124 Credit union advisory council.  46. a. A Credit Union Advisory Council is created which shall consult with, advise, and make recommendations to the commissioner on matters pertaining to the chartering, operation and supervision of credit unions. b. The council shall consist of seven persons to be appointed by the Governor, with the advice and consent of the Senate, who are members of the State chartered and federally chartered credit unions within the State, at least two of whom shall be members of federally chartered credit unions within the State and at least four of whom shall be members of State chartered credit unions within the State. Four members of the council shall have had a minimum of three years' experience as a credit union officer or director or a similar management position. Appointments to the council shall be for terms of five years except that four of the initial appointments shall be for terms of four, three, two, and one years respectively, so that in each subsequent year one member shall be appointed to a full term. The two initial members of the federally chartered credit unions shall be appointed for terms of four and three years, respectively. c. All members shall serve until their successors have been appointed and qualified. In the event a vacancy occurs, the appointment to fill the vacancy for the unexpired term shall be in the manner of the original appointment. d. The chairman of the council shall be elected annually and from the members thereof. e. The initial meeting of the council shall be called by the commissioner. Thereafter, regular meetings shall be held at times and places as shall be determined by the chairman, the commissioner, or a majority of the council members. The council may establish its own procedures and practices. f. Expenses of the council shall be borne by the credit unions. L.1984, c.171, s.46; amended 2013, c.215.
NJ Rev Stat § 17:13-125 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13-125 - Rules and regulations

17:13-125. Rules and regulations  The commissioner shall promulgate any rules and regulations which he deems necessary to effectuate the purposes of this act. L.1984, c. 171, s. 57, eff. Oct. 31, 1984.
NJ Rev Stat § 17:13A-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13A-1 - Application of act

17:13A-1. Application of act  This act applies to advertisements made in connection with loans which are payable in installments and upon which interest is (a) received in advance, or (b) is added to the amount of the loan, so that the amount to be repaid, as stated in the instrument evidencing or securing the loan, equals the amount of the loan plus the interest so added, and (c) the interest so received in advance or so added is at a rate in excess of 6% per annum upon the average balances owing on such loans. It does not apply to advertisements in connection with loans upon which not more than 1 month's interest may lawfully be received in advance. L.1965, c. 169, s. 1.
NJ Rev Stat § 17:13A-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13A-2 - Definitions

17:13A-2. Definitions  As used in this act, (a) "person" means an individual, a corporation, a partnership and every other organized group of persons; (b) "loan" means a loan of the type referred to in section 1; (c) "lender" means a person who makes loans; it also includes agents, officers, directors and employees of lenders, and all persons who solicit, arrange for or otherwise participate or assist in the making of loans, or in any way act as an intermediary between a borrower and a lender in effecting loans; (d) "net loan" means the amount which a borrower contracts to pay to a lender in satisfaction of a loan, less the amount of the interest received in advance on such loan, or added to the amount of such loan; (e) "average balance owing on a loan" means an amount determined by the application of the formula A=N (I + 1) / 2I in which "A" represents the average balance; "N" represents the amount of the net loan; and "I" represents the number of installments scheduled by the terms of such loan to be paid on such loan; (f) "advertisement" and "advertise" mean notice by a lender that he makes loans. The terms include the giving of such notice (1) in newspapers, magazines and all periodicals and publications of every nature; (2) by signs, billboards, placards, posters and displays of every nature; (3) by radio or television; (4) by direct mail; and (5) by every other medium of communication, oral, written, visual or otherwise, the purpose or effect of which is to call to the attention of persons that the lender named in such notice makes loans; (g) "interest" means every charge paid to the lender or contracted for by the lender and the borrower in connection with or as an incident of a loan, whether designated as interest or as a finance charge or otherwise, except that the term does not include the following charges when made pursuant to law: late or delinquency charges; attorneys' and collection fees; insurance premiums, including premiums for credit life insurance; recording or filing fees, and all other charges which may lawfully be made on loans in addition to interest or finance charges. L.1965, c. 169, s. 2.
NJ Rev Stat § 17:13A-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13A-3 - Requirements

17:13A-3. Requirements  No advertisement made or caused to be made by a lender shall contain any statement making reference to or setting forth a stated rate or percentage of interest charged on a loan made by him, unless such rate or percentage is expressed in terms of simple interest per month or per year on the amount of the average balance owing on such loan. An advertisement which states the rate of interest or the interest charge in terms of dollars and fractions of dollars per $100.00 per year on the net loan, or which presents a table which shows the amount which the borrower is required to pay on such loan, the amount of the net loan, and the amount, number and intervals of the required payments, shall not be deemed to be violative of the provisions of this section. L.1965, c. 169, s. 3.
NJ Rev Stat § 17:13A-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13A-4 - Violation

17:13A-4. Violation  Any lender who willfully violates the provisions of section 3 of this act shall be a disorderly person. L.1965, c. 169, s. 4.
NJ Rev Stat § 17:13A-5 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13A-5 - Citation

17:13A-5. Citation  This act may be cited as the "Installment Loan Rate Advertising Act." L.1965, c. 169, s. 5.
NJ Rev Stat § 17:13B-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13B-1 - Short title

17:13B-1. Short title  This act shall be known as "The State Bank Parity Act" . L.1981, c. 4, s. 1, eff. Jan. 23, 1981.
NJ Rev Stat § 17:13B-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:13B-2 - Depository institutions, rate of interest, other charges, fees on loans, authorized.

17:13B-2 Depository institutions, rate of interest, other charges, fees on loans, authorized.  2. Notwithstanding any provisions of R.S.31:1-1 or any other statute to the contrary, any bank, savings bank, savings and loan association or credit union may charge any periodic percentage rate on the outstanding balance and include any other charges or fees on any class or type of loan as permitted to any other lender by the laws of this State on that class or type of loan. Nothing in this act shall authorize any lender to make any loan it is not authorized by law to make, nor shall anything in this act apply to loans secured by a first lien on real estate on which there is erected or to be erected a structure containing one, two, three, four, five, or six dwelling units, a portion of which structure may also be used for nonresidential purposes. L.1981,c.4,s.2; amended 1999, c.81.
NJ Rev Stat § 17:14A-1 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-1 - Definitions

17:14A-1. Definitions  As used in this chapter: a. "Commissioner" means the Commissioner of Banking of New Jersey; b. "Department" means the Department of Banking of New Jersey; c. "Safe Deposit Company" means a corporation organized for the purpose of keeping, maintaining and renting for hire safe deposit boxes for the safekeeping of personal property; d. "Safe deposit box" means a receptacle for the safekeeping of personal property; e. "Lessor" means a safe deposit company; f. "Safe" means a place for the storage and safekeeping of personal property; g. "Vault" means a room or compartment that is designed for the storage and safekeeping of personal property, including safes and safe deposit boxes and having a size and shape which permits entrance and movement within by one or more persons. L.1983, c. 566, s. 17:14A-1.
NJ Rev Stat § 17:14A-2 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-2 - Applicability of chapter

17:14A-2. Applicability of chapter  This chapter shall apply to all corporations organized prior to and after the effective date of this chapter. L.1983, c. 566, s. 17:14A-2.
NJ Rev Stat § 17:14A-3 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-3 - Carrying on safe deposit business

17:14A-3. Carrying on safe deposit business  A corporation organized under any law other than this chapter shall not be authorized to carry on a safe deposit business, but this section shall not apply to State or federally chartered banks, savings banks, savings and loan associations or credit unions. L.1983, c. 566, s. 17:14A-3.
NJ Rev Stat § 17:14A-4 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-4 - Use of words "safe deposit"

17:14A-4. Use of words "safe deposit"  A corporation organized under any law other than this chapter shall not use the words "safe deposit" as part of its name. L.1983, c. 566, s. 17:14A-4.
NJ Rev Stat § 17:14A-5 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-5 - Reservation of power

17:14A-5. Reservation of power  This chapter may be supplemented, altered, amended or repealed by the Legislature, and every corporation to which this chapter applies shall be bound thereby. L.1983, c. 566, s. 17:14A-5.
NJ Rev Stat § 17:14A-6 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-6 - Incorporators

17:14A-6. Incorporators  Any five or more persons who are residents of this State, hereinafter referred to as incorporators, may associate to form a corporation for the purposes of a safe deposit company upon the terms and conditions set forth in this chapter. L.1983, c. 566, s. 17:14A-6.
NJ Rev Stat § 17:14A-7 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-7 - Certificate of incorporation

17:14A-7. Certificate of incorporation  The incorporators shall personally sign and prove or acknowledge as is required for deeds of real estate, a certificate of incorporation, which shall state: a. The name of the corporation, which shall contain the words "safe deposit" , and the name of the corporation shall not be one already in use by another corporation nor so similar thereto as to deceive the public or lead to uncertainty or confusion; b. The street, street number, if any, and the municipality in this State where its business is to be carried on; c. Its purposes and objects; d. The amount of its capital stock, which shall not be less than $200,000.00 and shall be divided into shares having a par value of not less than $2.00 per share and be fully subscribed for in the certificate; e. The name, residence (including street and number, if any) post office address and occupation of each incorporator; f. The number of shares subscribed for by each incorporator; g. The period, if any, limited for the duration of the company; and h. The certificate may contain any provisions, consistent with the provisions of this chapter, which the incorporators may choose to insert for the regulation of its business, the conduct of its affairs, or for the defining, limiting and regulating the powers of its directors. L.1983, c. 566, s. 17:14A-7.
NJ Rev Stat § 17:14A-8 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-8 - Original bylaws

17:14A-8. Original bylaws  The original bylaws of the corporation shall be adopted by the incorporators. L.1983, c. 566, s. 17:14A-8.
NJ Rev Stat § 17:14A-9 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-9 - Application to commissioner for approval; notice of hearing

17:14A-9. Application to commissioner for approval; notice of hearing  The certificate of incorporation and the bylaws shall be submitted to the commissioner for his approval. Within 10 days thereafter, the commissioner shall give written notice to each incorporator, of the time and place designated by him for a hearing, by mailing the notice to each incorporator at the post-office address stated in the certificate of incorporation. The time designated for the hearing shall be not less than six weeks nor more than eight weeks after the date after receipt by the commissioner of the application. L.1983, c. 566, s. 17:14A-9.
NJ Rev Stat § 17:14A-10 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-10 - Publishing notice of application and hearing by incorporators

17:14A-10. Publishing notice of application and hearing by incorporators  The incorporators shall give public notice of the application and of the time and place designated by the commissioner for the hearing thereon, by publishing it prior to the time of hearing at least once a week for four weeks in at least one newspaper published and circulating in the municipality where the principal office of the safe deposit company will be located. If there is no newspaper published in the municipality, the notice shall be published in a newspaper having a general circulation in the municipality. The notice shall also state the proposed name of the company, the name of the municipality where the principal office of the company will be located, the names and addresses, both residence and post office, of the incorporators, and the aggregate amount which they have agreed to invest in the company before it commences business. L.1983, c. 566, s. 17:14A-10.
NJ Rev Stat § 17:14A-11 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:14A-11 - Mailing copy of notice to other companies; request to commissioner to furnish names

17:14A-11. Mailing copy of notice to other companies; request to commissioner to furnish names  The incorporators shall also mail or cause to be mailed, at least three weeks prior to the time designated for the hearing, a copy of the notice to all safe deposit companies having principal or branch offices within the county where the principal office of the proposed company is to be located. The commissioner shall, upon the request of the incorporators, furnish a written list showing the names and street addresses of all safe deposit companies to which the notice shall be sent. L.1983, c. 566, s. 17:14A-11.