New Jersey Administrative Code › Title 3 - BANKING › Chapter 13 - BANK HOLDING COMPANIES › Subchapter 1 - BANK HOLDING COMPANY APPLICATIONS › Section 3:13-1.1 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in this subchapter,
				  shall have the following meanings, unless the context clearly indicates
				  otherwise.
"Affiliate" means any company that controls, is controlled
				  by, or is under common control with another company.
"Bank" shall have the same definition as provided in section
				  2 of the Federal "Bank Holding Company Act of 1956,"
				  12
				  U.S.C. §
										1841.
"Bank holding company" has the meaning set forth in
				  subsection (a) of section 2 of the Federal "Bank Holding Company Act of 1956,"
				  12
				  U.S.C. §
										1841(a) and,
				  unless the context requires otherwise, includes a New Jersey bank holding
				  company, an out-of-State bank holding company and a foreign bank holding
				  company.
"Bank supervisory agency" means any of the following:
1. The Office of the Comptroller of the
				  Currency, the Federal Deposit Insurance Corporation, the Board of Governors of
				  the Federal Reserve System, and any successor to these agencies; and
2. Any agency of another state with primary
				  responsibility for chartering and supervising banks.
"Branch" means an office, unit, station, facility, terminal,
				  space or receptacle at a fixed location other than a principal office, however
				  designated, at which any business that may be conducted in a principal office
				  of a bank or savings bank may be transacted. "Branch office" includes full
				  branch offices, minibranch offices and communication terminal branch
				  offices.
"Commissioner" means the Commissioner of the New Jersey
				  Department of Banking and Insurance.
"Company" has the meaning set forth in section 2 of the
				  Federal "Bank Holding Company Act of 1956,"
				  12
				  U.S.C. §
										1841.
"Control" of a bank or bank holding company means control as
				  defined in paragraph (2) of subsection (a) of the Bank Holding Company Act of
				  1956,
				  12
				  U.S.C. §
										1841(a)(2).
"Foreign bank holding company" means a bank holding company
				  that is organized under the laws of a country other than the United States,
				  including any territory or possession thereof.
"Department" means the New Jersey Department of Banking and
				  Insurance.
"Internal reorganization" means the repositioning of a bank
				  or bank holding company within an affiliated family of entities under common
				  control with no change of the ultimate control.
"New Jersey bank" means a bank that is:
1. Organized under New Jersey law,
				  17:9A-1 et seq.; or
2. Organized under Federal law and having its
				  principal place of business in this State.
"New Jersey bank holding company" means a bank holding
				  company that:
1. Has its principal place of
				  business in this State; and
2. Is
				  not controlled by a bank holding company other than a New Jersey bank holding
				  company.
"Out-of-State bank holding company" means:
1. A bank holding company that is not a New
				  Jersey bank holding company; and
2.
				  Unless the context requires otherwise, includes a foreign bank holding company.
"Person" includes individuals, corporations, associations,
				  societies, firms, partnerships, joint stock companies, trusts and any other
				  group of persons, however organized.
"Subsidiary" shall have the meaning set forth in section 2 of
				  the Federal "Bank Holding Company Act of 1956,"
				  12
				  U.S.C. §
										1841.
"United States" means the United States and includes any of
				  the United States, the District of Columbia, any territory of the United
				  States, Puerto Rico, Guam, American Samoa, and the Virgin
				  Islands.