reglab/housing_qa huggingface dataset:
NJ Rev Stat § 17:12B-77 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-77 - Share plan

17:12B-77. Share plan  Membership in a State association operating pursuant to the share plan shall be evidenced by a share certificate, account book, or, in lieu thereof any other evidence of the account which may be approved by the commissioner, provided, however, the membership of a borrowing member may be evidenced only by a membership certificate. Such State associations may issue the following types of shares, all of which shall be common shares: (1) Installment shares, which shall be issued in connection with accounts upon which payments are made periodically in regular amounts as required by the by-laws. The by-laws shall specify the maturity value of such accounts. All such accounts shall have the same maturity value, but the by-laws may be amended to provide that accounts thereafter issued shall have a different maturity value from those theretofore issued. Upon the maturity of an installment share account so much of its participation value as remains after payment of any obligation for which it may have been pledged, shall be disposed of in one of the following ways: (a) The State association may pay the same to the member under the same terms and conditions which apply to the payment of withdrawals. (b) The State association may transfer the same to any other type of account in said State association to the credit of the member, giving him immediate written notice thereof, personally or by mail. (c) The member may withdraw the same in accordance with the same terms and conditions which apply to other withdrawals. (2) Savings shares, which shall be issued in connection with accounts upon which payments may be made at the option of the member. (3) Income shares, which shall be issued in connection with accounts requiring the investment of fixed amounts in units of $100.00 or multiples thereof, upon which dividends are paid in cash. L.1963, c. 144, s. 77.
NJ Rev Stat § 17:12B-78 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-78 - Limitation upon accounts

17:12B-78. Limitation upon accounts  No savings member shall hold an account or accounts in any one State association with an aggregate participation value exceeding $20,000.00 or 1% of the capital of the State association, whichever is greater; provided, however, that such limitation shall not apply to-- (a) An account or deposit held as provided in section 80 or section 241 of this act; or (b) An account or deposit which is pledged as security for the repayment of money due such State association; or (c) An installment share account, or any account opened as the result of the maturity of an installment share account; or (d) An account, or deposit other than an installment share account, which exceeds the aforesaid limitation at the time of the enactment of this statute, but no additions other than dividends or interest shall be made thereto; or (e) Where such excess results from the addition of dividends or interest to any such account, or from the acquisition of an account by gift, will or inheritance; or from the acquisition of an account or deposit previously held as collateral security for the payment of an obligation; or from the acquisition by one State association of the assets of another association; or (f) Where such excess results from a reduction in the capital of the association. The board may provide for any lesser limitation than set forth in this section, and any person or persons authorized by it, may refuse to accept any account and may limit the amount of payments which may be received on any account. L.1963, c. 144, s. 78. Amended by L.1968, c. 143, s. 1, eff. July 12, 1968; L.1972, c. 132, s. 1, eff. Aug. 17, 1972; L.1981, c. 101, s. 3, eff. March 31, 1981.
NJ Rev Stat § 17:12B-79 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-79 - Forms of certificate

17:12B-79. Forms of certificate  Forms of certificate. The following form of membership certificate is hereby prescribed.  This certifies that ..................... is a savings borrowing .................................. member of the undersigned and holds a membership account therein subject to the Savings and Loan Act (1963) and the by-laws of the undersigned.  Date ................................ AssociationAssociation's Seal By ........................................... (Title of Officer or Officers)The following form of share certificate is hereby prescribed.  This certifies that ....................................... is a member of the undersigned and holds .................... (insert number and type of shares) ........ shares therein subject to the Savings and Loan Act (1963) and the by-laws of the undersigned.  Date ................................ AssociationAssociation's Seal By ........................................... (Title of Officer or Officers)Participation Value $.......................................... (To be added if account book is not issued) Said membership certificates and share certificates shall be signed by such officer or officers as the board of each association shall direct.  L.1963, c. 144, s. 79. Amended by L.1964, c. 19, s. 6.
NJ Rev Stat § 17:12B-80 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-80 - Governmental agencies may be members

17:12B-80. Governmental agencies may be members  The United States of America, the State of New Jersey, or any agency or instrumentality of either of them, or any corporation incorporated under the laws of the United States, in the stock of which the Secretary of the Treasury of the United State may be authorized by an Act of Congress to invest, may be a member of any association and hold one or more accounts therein without limit as to amount. Any association may make an agreement with any such member, deferring or postponing the right to withdraw all or any part of such member's account, but such member shall not be entitled to any withdrawal preferences or priorities as against any other member, and shall otherwise be entitled to all rights and privileges and subject to all obligations and limitations of membership in such association. L.1963, c. 144, s. 80.
NJ Rev Stat § 17:12B-81 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-81 - Minors

17:12B-81. Minors  Minors may be members and shall be entitled to all of the rights and privileges and subject to all of the duties and liabilities of membership to the same extent as persons over the age of 21 years. A minor may endorse for credit to his account with an association checks and other instruments for the payment of money which are payable to him or to his order. The association shall pay any moneys to the credit of such an account, from time to time to, or pursuant to the order of, such minor. In all transactions with respect to such an account the minor shall, as between himself and the association, be deemed to be the absolute owner and to be of full age and legal capacity. A minor shall also be permitted to obtain a loan from an association secured by a pledge of his account. In all transactions with respect to such an account loan, as defined in section 5 of this act, the minor shall, as between himself and the association, be deemed to be the absolute owner and to be of full age and legal capacity. No minor shall be entitled to vote until he shall have attained the age of 16 years. This section shall also apply to all Federal associations having their principal offices in this State to the extent that the section is not in conflict with Federal laws, rules and regulation. L.1963, c. 144, s. 81.
NJ Rev Stat § 17:12B-82 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-82 - Membership trust accounts

17:12B-82. Membership trust accounts  When a membership trust account is opened in the manner provided in the "Multiple-party Deposit Account Act" , and, a. Where a trustee's death terminates the trust under the provisions of section 5c(2) of the "Multiple-party Deposit Account Act" and where the named beneficiary or all of the beneficiaries so named are 16 years of age or over at the time of termination of such trust, the association shall pay the moneys to the credit of the trust, less all proper set-offs and charges, to the named beneficiary or beneficiaries or upon his or their order, and such payment by the association shall be valid, notwithstanding any lack of legal age of the named beneficiary or beneficiaries; b. If the named beneficiary or all of the beneficiaries so named are under 16 years of age at the time of termination of such trust, the association shall pay the moneys to the credit of the trust, less all proper set-offs and charges, (1) When or after the named beneficiary becomes 16 years of age, to the named beneficiary or upon his order, or (2) When more than one beneficiary is named, the association shall pay to the beneficiary so named his proportionate interest in such account as he becomes 16 years of age, or (3) To the legal guardian of the named beneficiary wherever appointed, or where more than one beneficiary is named, the association shall pay such beneficiary's proportionate interest in such account to his legal guardian wherever and whenever appointed, or (4) If a certificate of appointment of a legal guardian is not filed with the association to a person authorized to receive such moneys or proportionate interest thereof pursuant to sections 3A:6-31 and 3A:6-32 of the New Jersey Statutes. c. Where a trustee's death terminates the trust under the provisions of section 5c(2) of the "Multiple-party Deposit Account Act" and where one or more of the named beneficiaries are under 16 years of age and the remainder of the named beneficiaries are 16 years of age or over, the association shall pay the moneys to the credit of the trust, less all proper set-offs and charges to: (1) The named beneficiaries 16 years of age or over at the time of termination of said trust pursuant to subsection a of this section, and (2) The named beneficiaries under 16 years of age at the time of termination of said trust pursuant to subsection b of this section. L.1963, c. 144, s. 82. Amended by L.1979, c. 491, s. 18.
NJ Rev Stat § 17:12B-83 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-83 - Applicability to moneys paid to account by trustee under will, other fiduciary instrument, court order or decree

17:12B-83. Applicability to moneys paid to account by trustee under will, other fiduciary instrument, court order or decree  Section 82 of this act shall not apply to the moneys paid to an account by a trustee acting under a will, other fiduciary instrument, court order or decree. L.1963, c. 144, s. 83.
NJ Rev Stat § 17:12B-84 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-84 - Release from claims of fiduciaries, beneficiaries or legal representatives

17:12B-84. Release from claims of fiduciaries, beneficiaries or legal representatives  An association which makes any payment pursuant to section 82 of this act prior to service upon the association of an order of court restraining such payment shall, to the extent of each payment so made, be released from all claims of the fiduciary, the named beneficiary, their legal representatives, and all others claiming under or through them. L.1963, c. 144, s. 84.
NJ Rev Stat § 17:12B-85 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-85 - Rights of beneficiary on death of fiduciary; effect of laws requiring valid testamentary disposition

17:12B-85. Rights of beneficiary on death of fiduciary; effect of laws requiring valid testamentary disposition  When an account is maintained in a form described in section 82 of this act the right of the named beneficiary to be vested with sole and indefeasible title to the moneys, to the credit of the account on the death of the fiduciary, shall not be denied, abridged, or in anywise affected because such right has not been created by a writing executed in accordance with the laws of this State prescribing the requirements to effect a valid testamentary disposition of property. L.1963, c. 144, s. 85.
NJ Rev Stat § 17:12B-86 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-86 - Applicability to federal associations having principal offices in state

17:12B-86. Applicability to federal associations having principal offices in state  The provisions of section 82 of this act shall also apply to all Federal associations having their principal offices in this State, where such procedures are not in conflict with any Federal laws, rules and regulations. L.1963, c. 144, s. 86.
NJ Rev Stat § 17:12B-87 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-87 - Authority of attorney to manage or make withdrawals from account

17:12B-87. Authority of attorney to manage or make withdrawals from account  An association may continue to recognize the authority of any attorney authorized in writing to manage or to make withdrawals either in whole or in part from the savings account of a member until it receives written notice or is on actual notice of the revocation of his authority. For the purposes of this section, written notice of the death or adjudication of incompetency of such member shall constitute written notice of revocation of the authority of his attorney. No association shall be liable for damages, penalties or tax by reason of any payment made pursuant to this section. L.1963, c. 144, s. 87.
NJ Rev Stat § 17:12B-89 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-89 - Payment to credit of account of beneficiaries or their order

17:12B-89. Payment to credit of account of beneficiaries or their order  When a membership account is opened by a person or persons payable on death to a beneficiary or beneficiaries in the manner provided in the "Multiple-party Deposit Account Act" , and the account is terminated as provided in section 5b(2) of said act, and if the named beneficiary or one of the beneficiaries so named survive the death of the person or persons opening such an account and the beneficiary or all of the beneficiaries so named are 16 years of age or over at the death of the person or persons opening such an account, the association shall pay the moneys to the credit of the account, less all proper set-offs and charges, to the named beneficiary or beneficiaries or upon his or their order, and such payment by the association shall be valid, notwithstanding any lack of legal age of the named beneficiary or beneficiaries. L.1963, c. 144, s. 89. Amended by L.1979, c. 491, s. 19.
NJ Rev Stat § 17:12B-90 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-90 - Payment to credit of account when beneficiaries under 16 years of age

17:12B-90. Payment to credit of account when beneficiaries under 16 years of age  When a membership account is opened by a person or persons payable on death to a beneficiary or beneficiaries in the manner provided in the "Multiple-party Deposit Account Act," and the account is terminated as provided in section 5b(2) of said act, and if the named beneficiary or all of the beneficiaries so named survive the death of the person or persons opening such an account and are under 16 years of age at such time, the association shall pay the moneys to the credit of the account, less all proper set-offs and charges. a. When or after the named beneficiary becomes 16 years of age, to the named beneficiary or upon his order, or b. When more than one beneficiary is named, the association shall pay to the beneficiary so named his proportionate interest in such account as he becomes 16 years of age, or c. To the legal guardian of the named beneficiary, wherever appointed, or where more than one beneficiary is named, the association shall pay such beneficiary's proportionate interest in such account to his legal guardian wherever and whenever appointed, or d. If a certificate of appointment of a legal guardian is not filed with the association, to a person authorized to receive such moneys, or proportionate interest thereof, pursuant to sections 3A:6-31 and 3A:6-32 of the New Jersey Statutes. L.1963, c. 144, s. 90. Amended by L.1979, c. 491, s. 20.
NJ Rev Stat § 17:12B-91 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-91 - Payment when account terminated and one or more beneficiaries under, and one or more beneficiaries over, 16 years of age

17:12B-91. Payment when account terminated and one or more beneficiaries under, and one or more beneficiaries over, 16 years of age  When a membership account is opened by a person or persons payable on death to a beneficiary or beneficiaries in the manner provided in the "Multiple-party Deposit Account Act," and the amount is terminated as provided in section 5b(2) of said act, and where one or more of the named beneficiaries are under 16 years of age and the remainder of the named beneficiaries are 16 years of age or over, the associations shall pay the moneys to the credit of the trust, less all proper set-offs and charges to: a. The named beneficiaries 16 years of age or over at the time of termination of said account shall be paid pursuant to section 89 of this act, and b. The named beneficiaries under 16 years of age at the time of termination of said account shall be paid pursuant to section 90 of this act. L.1963, c. 144, s. 91. Amended by L.1979, c. 491, s. 21.
NJ Rev Stat § 17:12B-103 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-103 - Pledge of account to association

17:12B-103. Pledge of account to association  The pledge to any association of such an account, signed by that person or those persons who are authorized in writing to make withdrawals from the account shall be a valid pledge and transfer to the association of the account, and shall not operate to sever or terminate the joint and survivorship ownership of the account. L.1963, c. 144, s. 103.
NJ Rev Stat § 17:12B-106 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-106 - Acceptance of accounts in name of one or more administrators, custodians, executors, guardians, trustees or other fiduciaries in trust for named beneficiary

17:12B-106. Acceptance of accounts in name of one or more administrators, custodians, executors, guardians, trustees or other fiduciaries in trust for named beneficiary  Any association may accept accounts in the name of one or more administrators, custodians, executors, guardians, trustees, or other fiduciaries in trust for a named beneficiary or beneficiaries. (1) Any such fiduciary shall have such voting rights as are provided in section 126 of this act. (2) Any such fiduciary shall have power to open such an account and to make a payment or payments to, and to withdraw from any such account in whole or in part. (3) Unless the will or other instrument, or the court order or decree under which such fiduciary is acting, provides otherwise, the withdrawal value of any such account, and dividends thereon, or other rights relating thereto may be paid or delivered, in whole or in part, to such fiduciary so long as such fiduciary is living. The payment or delivery to any such fiduciary or a receipt or acquittance signed by any such fiduciary to whom any such payment or any such delivery of rights is made shall be a valid and sufficient release and discharge of an association for the payment or delivery so made. (4) Whenever a person holding an account in such a fiduciary capacity dies and no written notice of the revocation or termination of the fiduciary relationship shall have been given to an association and the association has no notice of any other disposition of the beneficial estate, the withdrawal value of such account, and dividends thereon, or other rights relating thereto may, at the option of the association, be paid or delivered, in whole or in part, to the beneficiary or beneficiaries. (5) Where such an account is opened or subsequently held by more than one fiduciary the association may accept payments made to such account and may pay any moneys to the credit of such account from time to time to, or pursuant to the order of any one or more of such cofiduciaries who shall be authorized in writing by all the cofiduciaries to make such payments or withdrawals, unless the will or other instrument or the court order or decree under which such cofiduciaries are acting otherwise provides. L.1963, c. 144, s. 106.
NJ Rev Stat § 17:12B-109 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-109 - Necessity for actual notice of death or incompetency of savings member

17:12B-109. Necessity for actual notice of death or incompetency of savings member  In the absence of actual notice of death or incompetency of a savings member received by an association at the office at which the member's account is maintained, the association may, notwithstanding such death or incompetency, pay any requests for payment authorized in writing. L.1963, c. 144, s. 109.
NJ Rev Stat § 17:12B-110 (2021)
2021 New Jersey Revised Statutes|Title 17 - Corporations and Institutions for Finance and Insurance|Section 17:12B-110 - Transfer of membership

17:12B-110. Transfer of membership  A member may transfer, absolutely or conditionally, his membership to any other person, subject to the provisions of this act, by a written assignment accompanied by delivery of the evidence of the account. The evidence of the account shall mean the membership certificate, share certificate, account book or any other evidence of the amount which may have been issued in connection with such membership. Every such transfer of membership shall be deemed to include the account and the evidence of the account issued in connection therewith. The provisions of chapter 8 of Title 14 of the Revised Statutes and the provisions of the Uniform Commercial Code and the amendments thereof and supplements thereto shall not apply to such transfers. No such absolute transfer shall be effective against an association until such written assignment and the accompanying evidence of the account shall be delivered to the association with a request that it complete such transfer upon its records. No such conditional transfer shall be effective against an association unless and until it actually receives notice thereof in writing. L.1963, c. 144, s. 110.