reglab/statecodes huggingface dataset:
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 1 - INTEREST AND USURY › Section 3:1-1.2 - Interest rates; other loans

Current through Register Vol. 56, No. 14, July 15, 2024
Notwithstanding any provisions of
				  31:1-1 or
				  3:1-1.1 and except as otherwise
				  provided by law, any person may charge a rate of interest on any loan which
				  rate does not exceed one percent in excess of the discount rate on 90-day
				  commercial paper in effect at the Federal Reserve Bank of New York on the date
				  of the loan, at any time when that discount rate exceeds seven percent. Nothing
				  in this subsection shall authorize any person to make any loan which is not
				  authorized by law, nor shall anything in this subsection 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 non-residential purposes.
				  Additionally, nothing in this subsection (a) shall be applicable to the
				  exceptions contained in
				  31:1-1(e)  and
				  3:1-1.1(c).
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.2 - Charter applications

Current through Register Vol. 56, No. 14, July 15, 2024
(a) With the
				exception of applications made by entities as described in (d) below, every
				applicant for a depository charter is required to file with the Department the
				following data in addition to the statutorily required certification of
				incorporation and affidavits required by
				17:9A-9,
				17:12B-14 and
				17:12B-246:
1. An economic feasibility study delineating
				the proposed trade area to be served by the applicant, as well as yearly
				deposit estimates for the first three years of operation;
2. A pro forma balance sheet and profit and
				loss statement which shall project the financial condition and net income or
				loss of the depository on an annual basis for a period of three years and shall
				indicate the anticipated break-even date, and a business plan for the
				depository;
3. Biographical forms
				for each director, in the form of the Federal Financial Institutions
				Examination Council Interagency Biographical and Financial Information Report
				in use at the time of application, incorporated herein by reference. Copies of
				the report may be obtained on the FDIC website at
www.fdic.gov
, and authorizations by such persons for
				background checks;
4. The required
				non-refundable application filing fee;
5. An indicia of title for the proposed
				site;
6. A copy of an application
				to be filed with the Federal Deposit Insurance Corporation (F.D.I.C.) for
				deposit insurance, if the applicant has applied for a charter that includes the
				authority to accept deposits. When the final application is filed with the
				F.D.I.C., a copy shall be simultaneously transmitted to the
				Department;
7. The proposed
				directors' code of conduct governing activities both inside and outside the
				bank;
8. If the site is to be
				acquired or leased from an affiliated person, an application is required by
				3:1-10.2;
9. A business plan in the form of the Federal
				Financial Institutions Examination Council Interagency Model Business Plan
				Guidelines in use at the time of application, incorporated herein by reference.
				Copies of the Guidelines may be obtained on the FDIC website at
www.fdic.gov
;
10. Fingerprint cards in a form obtained from
				the Department, except where the applicant applies for deposit insurance or in
				the case of an interim charter application pursuant to (d) below;
11. All other information required of a
				specific applicant by the Commissioner; and
12. Any changes in (a)1 through 11
				above.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.3 - Branch applications of depositories

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An application
				by a depository to establish a branch office or a minibranch office shall
				contain the following items before it will be accepted by the Department:
1. A completed current application form,
				including the name of the depository and the location of the applied for branch
				or minibranch office;
2. An
				original certification of a copy of the resolution authorizing the
				application;
3. If the proposed
				transaction involves the acquisition of deposits from another banking
				institution:
i. Pro forma balance sheet
				projections reflecting the acquiring depository before and after the
				acquisition; and
ii. Projections of
				the ratio of Tier 1 capital to total assets of the depository before and after
				the acquisition;
4. If
				the branch site is to be acquired or leased from an affiliated person, an
				application as required by
				3:1-10.2; and
5. All other documentation required of a
				specific applicant by the Commissioner or which the applicant wishes the
				Department to consider.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.4 - Branch application of out-of-State banks and out-of-State associations

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An application by an out-of-State bank
				that has no branch offices in New Jersey to acquire a branch office in this
				State shall contain the following items:
1. A
				completed current application form, containing the name of the depository, the
				name of the depository selling the branch and the location of the applied for
				branch;
2. The required application
				filing fee;
3. An opinion of
				counsel that the out-of-State bank is authorized to acquire a branch in New
				Jersey;
4. If the out-of-State bank
				intends to immediately relocate the branch to a new location in this State, the
				exact location of the proposed relocation; and
5. A copy of the application filed with the
				home state regulator.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.5 - Charter applications; notice and publication

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When a
				charter application is filed with the Department, the Department shall so
				advise, in writing, the New Jersey Bankers Association, or its successor
				organization, if any. Notice of receipt of the application shall also be posted
				on the Department's website at
www.state.nj.us/dobi
.
(b) When the Department finds that a charter
				application is complete, the Department shall send notice to the applicant
				setting forth a hearing date. The Department shall also post notice of the
				hearing on the Department's website at
www.state.nj.us/dobi
within one week of
				sending the notice. In addition, the Department shall advise through a notice,
				electronically or in writing, the New Jersey Bankers Association, or its
				successor organization, if any, of the hearing date. The notice shall also
				contain a statement that an objection, if any, shall be filed with the
				Department no later than 10 business days prior to the scheduled hearing date
				and list the requirements for an objection to be considered by the Department
				as set forth at
3:1-2.7(b)
.
(c) Within 10 calendar
				days after notification of the formal hearing date for any charter application,
				the applicant shall publish notice of the application once a week for four
				successive weeks in a newspaper designated by the Commissioner, which is
				published and circulated in the municipality in which said charter is proposed
				to be established, or if there be no such newspaper, then in a newspaper of
				general circulation in the municipality.
(d) The notice shall contain the following:
1. The names of the incorporators;
2. The name and mailing address of the
				applicant;
3. The proposed location
				of the principal office;
4. The
				amount of capital stock and surplus, or the amount of capital deposits,
				whichever is applicable;
5. The
				hearing date; and
6. A listing of
				the requirements for an objection to be considered by the Department as set
				forth at 3:1-2.7(b)  and a
				statement indicating that any objections to the application must be filed with
				the Department no later than 10 business days prior to the scheduled hearing
				date.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.6 - Branch applications; notice and publication

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When a
				branch application is accepted, the Department shall send notice to the
				applicant and shall also post notice of the acceptance on the Department's
				website at
www.state.nj.us/dobi
. The
				Department shall also advise, in writing, the New Jersey Bankers Association,
				or its successor organization, if any, of the acceptance of the application.
				Each notice shall contain the following:
1.
				The name and mailing address of the applicant;
2. A brief statement of the nature of the
				application;
3. The precise
				location of the site involved in the particular application;
4. The date the Department accepted the
				application; and
5. The publication
				of notice shall also include the following statement:
"An individual, bank, savings bank or savings and loan
				  association may object to any full branch or relocation application, and may
				  request that an oral presentation be conducted. All such requests must be in
				  writing and filed within 10 calendar days of the date of the Department's
				  publication of notice of the accepted application on its website at
http://www.njdobi.org
. Individuals
				  or financial institutions interested in perfecting an objection or request for
				  oral presentation should immediately consult the Department's procedural rules
				  for guidance."
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.7 - Charter applications; objections and hearings

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An objection to
				a new charter application of a depository, if any, shall be filed in the
				Department no later than 10 business days prior to the scheduled hearing
				date.
(b) To be considered by the
				Commissioner, an objection shall be in writing and shall contain:
1. A summary of the reasons for
				protest;
2. Facts supporting the
				protest, including relevant economic or financial data;
3. Any adverse effects on the objector which
				may result from the approval of the application;
4. An indication as to whether the objector
				intends to appear personally at the charter hearing. A fee of $ 750.00 shall
				accompany a notice of intent to appear at a charter hearing, except that a
				non-profit public interest objector shall instead include a $ 100.00 fee;
				and
5. A certification that the
				objection containing the information set forth in (b)1 through 4 above and a
				request for a copy of the application were mailed or delivered to the
				applicant, and proof of mailing or delivery to the applicant of the objection
				and request.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.8 - Branch applications; objections and oral presentations

Current through Register Vol. 56, No. 14, July 15, 2024
(a) An objection to
				a branch application must be filed with the Department within 10 days of the
				publication of the notice prescribed by
				3:1-2.6(a)  on the
				Department's website, or 30 days after that day if an extension is requested in
				writing within the 10-day period. An objection to a mini-branch application
				must be filed within 20 days after publication. An objection to an application
				to branch accepted as expedited as provided in
				3:1-2.3(g)  shall
				be filed not later than 10 days after publication of the notice as set forth
				above.
(b) An objection shall be in
				writing and contain:
1. A summary of the
				reasons for protest;
2. Facts
				supporting the protest, including relevant economic or financial
				data;
3. Any adverse effects on the
				objector which may result from approval of the application;
4. An indication as to whether the objector
				requests to have a branch hearing. A fee of $ 750.00 shall accompany an
				application for a branch hearing, except that a non-profit public interest
				objector shall instead include a $ 100.00 fee. If it is later determined that
				an oral presentation will not be held, the fee will be returned to each of the
				objectors requesting an oral presentation; and
5. Proof that the objection and a request for
				a copy of the application were mailed to the applicant.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.9 - Insufficiency of data in support of application; hearing

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In any matter
				where the Department shall find that the applicant or objector has not filed
				sufficient data, information or material in support of or in opposition to a
				branch application or a charter application, the applicant or objector may be
				required to file supplementary data, information or material, or be subject to
				dismissal of the application or objection.
(b) All papers required to be filed shall be
				received in the Department by close of business on the date due. If the due
				date falls on a weekend or holiday then the filing shall be effected by close
				of business on the very next business day. Upon good cause shown, extensions of
				time within which to file must be considered if requested in writing with
				notice to all parties at least five days prior to due date.
(c) Only that data required by rules or
				required by the Department will be considered.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.10 - Oral presentations

Current through Register Vol. 56, No. 14, July 15, 2024
(a) If there is to
				be oral presentation, the Department shall notify the applicant and objector,
				if any, of the date, time, place and nature of the proceeding.
(b) Any oral presentation pursuant to the
				subchapter may be held before the Commissioner, or his or her designee, as
				presiding officer.
(c) Every oral
				presentation shall be open to the public.
(d) The hearing officer, if designated by the
				Commissioner pursuant to
				3:1-2.7(g), or
				where an oral presentation is conducted pursuant to
				3:1-2.8, may limit the time for any
				oral presentation as deemed necessary to afford all objectors appearing an
				opportunity to present oral testimony, consistent with the need for an orderly
				hearing to be concluded within one business day.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.11 - Failure of party requesting oral presentation to appear

Current through Register Vol. 56, No. 14, July 15, 2024
When the party requesting the oral presentation or having
				  notified the Department of an intent to appear at a charter hearing fails to
				  appear at a scheduled proceeding without sufficient reason therefor, such
				  failure to appear shall be treated as a withdrawal of the objection and/or the
				  request for an oral presentation. In the event that a party fails to appear at
				  an oral presentation, any fees paid shall be retained by the State.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.12 - Minibranches; space limitation

Current through Register Vol. 56, No. 14, July 15, 2024
(a) For the purpose
				of 17:9A-1(16), a
				bank shall be deemed to occupy the sum of the enclosed areas which it has
				leased or purchased in conjunction with an application to establish a
				minibranch, subject to the exceptions in (c) below.
(b) Occupied space shall include all enclosed
				customer, teller, work, storage, platform and employee lounge areas.
(c) Occupied space shall not include outside
				facilities such as drive-up or walk-up windows, apparatus or space; common
				entrance ways or areas which are shared with one or more other business
				entities; or restroom facilities.
(d) Applications for minibranches which
				occupy in excess of 500 square feet will be denied. The applicant for a
				minibranch shall have the burden of establishing that 500 or less square feet
				will be occupied.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.13 - Prehearing conference

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Prior to any
				hearing, or oral presentation, the hearing officer may, in his or her
				discretion, direct all parties and counsel to appear before him or her for a
				prehearing conference for any or all of the following purposes:
1. Simplification and clarification of the
				issues;
2. Admission and
				stipulations of fact and of the contents and authenticity of documents;
				and
3. Such other matters as may
				aid in the orderly disposition of the proceeding, including disclosure of the
				names of witnesses and of documents or in (b) below.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.14 - Procedure for oral presentation

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Both applicant
				and objector may raise issues and present information only if same have been
				affirmatively raised in the application, the objection, or the comprehensive
				objection. All other matters will be excluded unless the hearing officer, if
				designated, rules otherwise, and then only for good cause shown.
(b) All studies, reports or the like may be
				offered only if previously submitted to the Department and the applicant or
				objector, as applicable, pursuant to the hearing officer's direction.
(c) The applicant and the objector shall each
				be permitted to make an opening statement, stating precisely what information
				they will present. The applicant and participants may then present witnesses,
				materials and data. Questions may be addressed to the applicants, objectors and
				witnesses after each of their presentations by the hearing officer or
				Department hearing panel. Witnesses shall be sworn. Cross-examination shall be
				permitted in contested cases in accordance with
				52:14B-10.
(d) A verbatim transcript shall be made of
				all hearings conducted at the Department. The applicant shall arrange for a
				stenographer for the hearing. The applicant and objectors shall bear a pro rata
				share of the transcript costs for the transcripts required by the Department
				and all other regulatory agencies requesting same. Copies of the transcript may
				be obtained directly from the stenographic service that created the transcript.
				In the alternative, a copy of the transcript will be available for inspection
				at the Department's offices. Copies of the transcript shall not be made by the
				Department.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.15 - Closing of branch offices

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A bank, savings
				bank or savings and loan association shall notify the Department not less than
				30 days before closing a full branch office. The institution shall include in
				this notice the following:
1. The name of the
				institution and the location of its principal office;
2. The location of the branch office which
				will be closed;
3. The prospective
				date of closing;
4. A statement of
				reasons leading to the decision to close the branch;
5. A map of the general area served by the
				branch showing all remaining branches of State or Federally chartered banks,
				savings banks and savings and loan associations within such area; and
6. A statement indicating the effect the
				branch closing will have on the availability of financial services in the
				area.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.18 - Charter applications; conditions for approval

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The
				Commissioner shall condition approval of a charter application by a depository
				on the following factors:
1. If the
				depository is authorized to take deposits, on the depository becoming a member
				of the Federal Deposit Insurance Corporation;
2. If the depository is a stock institution,
				it will issue and sell shares of its authorized capital stock in sufficient
				amount to raise its capital base before commencement of operations to at least
				the minimum amount set forth in
				3:1-2.1 9, and will obtain prior
				approval from the Department for any person purchasing more than five percent
				of the authorized capital stock.
3.
				The depository shall comply with all requirements with respect to loans and
				transactions involving the depository and its directors, offices and other
				persons set forth in subtitles 1 and 2 of Title 17 of the New Jersey Statutes
				Annotated and Title 3 of the New Jersey Administrative Code, including, but not
				limited to,
				17:9A-71,
				17:9A-72, and
				17:9A-195, and N.J.A.C. 3:1-11,
				3:6-3, 3:6-15, and 3:7-5;
4. For
				the first three years after issuance of the certificate of authority, the
				depository shall obtain prior approval from the Commissioner before installing
				any person on the board of directors or employing any person with the
				depository in an executive officer position as defined in
3:6-1.1
;
5. For the first three years after issuance
				of the certificate of authority, the depository shall maintain:
i. A tier I capital-to-assets ratio, as that
				ratio is defined in
				12
				C.F.R. §
												325.2(k), that
				is at least eight percent of the bank's total assets unless prior written
				consent has been received from the Commissioner permitting a lower ratio;
				and
ii. A fully funded
				reserve;
6. The
				depository shall, during the period from the date of the decision approving the
				charter application until the date of the commencement of business, provide a
				monthly report to the Chief Examiner of Applications by the 10th calendar day
				of the month following the month being reported. The report shall include the
				following:
i. The depository's progress at
				raising capital;
ii. The
				depository's progress with respect to the construction of its
				facilities;
iii. A status report
				with respect to acquiring staffing and filling executive positions;
iv. A status report with respect to any other
				regulatory approvals that the depository is seeking;
v. A status report that summarizes the
				depository's monthly and total expenditures to date; and
vi. Any other matters that management deems
				relevant; and
7. Such
				other conditions for a specific applicant as the Commissioner identifies as
				appropriate.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.20 - Criteria for branch approval: Public interest

Current through Register Vol. 56, No. 14, July 15, 2024
(a) In reaching a
				determination as to whether an applicant meets the requirement that "the
				interests of the public will be served to advantage by the establishment of
				such full branch" as required by
				17:9A-20(A)(1)(b),
				the Commissioner shall consider only the following factors:
1. The availability of the proposed office to
				the general public or that segment of the public to be served as the case may
				be;
2. The presence and experience
				of a newly-chartered institution or an institution subject to supervisory
				review by the Department within the trade area of the proposed
				office;
3. The conditions set forth
				in Departmental regulations regarding insider real estate transactions, if any;
				and
4. The current financial
				condition of the applicant, including, but not limited to, capital, asset
				quality, management, earnings and liquidity. Department files, with respect to
				the factors contained in this subsection, shall be confidential as required by
				17:9A-264 and shall not be open or
				available for review by either the applicant or objectors; and
5. The Commissioner's determination with
				respect to these factors shall be a final agency decision.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.21 - Criteria for branch approval: Compliance with Community Reinvestment Act

Current through Register Vol. 56, No. 14, July 15, 2024
In determining whether to approve a branch application, the
				  Commissioner shall consider whether the institution has achieved sufficient
				  compliance with the Community Reinvestment Act of 1977,
				  12 U.S.C.
				  §§
										2901 et seq.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.22 - Charter conversions

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Applications
				for conversion from a Federally-chartered depository institution to a
				State-chartered institution shall not be considered a charter application for
				purposes of this subchapter. Applications for such a conversion shall be filed
				in accordance with the requirements set forth in (b) through (d)
				below.
(b) A Federally-chartered
				depository that directly or through a predecessor bank, savings bank or
				association by merger or other reorganization has been in business for at least
				three years, and which is well capitalized, adequately managed, and if
				applicable, has received in its most recent examination under the Community
				Reinvestment Act of 1977,
				12 U.S.C.
				§§
										2901 et seq., a rating of not
				less than "satisfactory record of meeting community credit needs," or its
				equivalent, may apply for expedited approval for conversion by filing for such
				expedited approval with the Commissioner. The application shall include the
				required filing fee and shall contain:
1. A
				certification by the depository, in a form specified by the Commissioner, that
				includes the following:
i. A statement that
				the depository meets the criteria set forth in (b) above;
ii. The amount of the required filing
				fee;
iii. A statement that the
				depository is entitled to request expedited processing and does request such
				processing;
iv. The executed
				certificate of incorporation;
v. A
				copy of the applicant's business plan for the next succeeding three year
				period, in the form of the Interagency Model Business Plan Guidelines in use at
				the time of application, incorporated herein by reference. Copies of the
				Guidelines may be obtained on the FDIC website at
www.fdic.gov
;
vi. A plan of conversion;
vii. Biographical forms for each director, in
				the form of the Interagency Biographical and Financial Information Report in
				use at the time of application, incorporated herein by reference. Copies of the
				report may be obtained on the FDIC website at
www.fdic.gov
. The financial information set forth in
				the form shall not be required;
viii. Certification from the depository that
				it has complied with and meets each of the requirements set forth in
				17:9A-150,
				17:12B-224 and 225, and 17:16M-1
				et seq., as applicable, with a certification as to each item individually;
				and
ix. A certified copy of the
				resolution of the board of directors approving the conversion.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.23 - Fees; banks and savings banks

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A bank or
				savings bank shall pay to the Commissioner for use of the State the following
				fees:
1.
For filing an application for
						  charter
$ 15,000
2.
For filing plans of acquisition, per
						  company, per bank or savings bank; the fee is charged if the requester is not
						  subject to assessment pursuant to N.J.A.C. 3:5 but no fee shall be charged if
						  the requestor is subject to assessment
$ 3,000
3.
For the issuance of a certified copy of any
						  certificate of incorporation or merger or plan of reorganization or any other
						  certificate or affidavit filed in the Department, plus $ 2.00 per page if the
						  requester is not subject to assessment pursuant to N.J.A.C. 3:5 but no fee
						  shall be charged if the requester is subject to assessment
$ 25.00
4.
For the issuance of any other approval by
						  the Commissioner, plus per diem charges where applicable; the fee is charged if
						  the requester is not subject to assessment pursuant to N.J.A.C. 3:5 but no fee
						  shall be charged if the requestor is subject to assessment
$ 100.00
5.
For filing for conversion of a
						  Federally-chartered bank to a State-chartered bank
$ 5,000
i. In the alternative, for an expedited review
$ 2,500.
(b)
				An out-of-State bank shall pay to the Commissioner for use of the State the
				following fees:
1.
For filing an application to acquire a
						  branch as the first branch in this State
$ 1,500
2.
For filing an application for approval of a
						  change of location of a New Jersey branch office as a part of an application to
						  enter the State through acquisition
$ 100.00
3.
For the issuance of any other approval by
						  the Commissioner, plus per diem charges where applicable
$ 100.00
(c)
				In addition to the fees in (a), a per diem charge may be assessed when a
				special investigation of a filing is required.
(d) The Department shall, upon written
				request, furnish verification of a State-chartered bank, savings bank or
				savings and loan's authority to conduct business in New Jersey. The fee shall
				be $ 25.00 per verification if the requester is not subject to assessment
				pursuant to N.J.A.C. 3:5 but no fee shall be charged if the requester is
				subject to assessment.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.24 - Fees, State associations

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Every State
				association shall pay to the Commissioner the following fees:
1.
Application to establish a mutual
						  association
$ 7,500
2.
Application to establish a stock
						  association
$ 15,000
3.
Certification by the Commissioner of papers
						  or records on file with the Department, plus $ 2.00 per page for each
						  certification if the requester is not subject to assessment pursuant to
						  N.J.A.C. 3:5 but no fee shall be charged if the requester is subject to
						  assessment
$ 25,00
(b)
				Each out-of-State association shall pay to the Commissioner the following fees:
1.
For filing an application to acquire a
						  branch, if the branch would be the out-of-State association's first branch in
						  this State
$ 1,500
2.
For filing an application for approval of a
						  change of location of a New Jersey branch office as part of an application to
						  open, occupy or maintain a branch
$ 100.00
3.
For the issuance or any other approval by
						  the Commissioner, plus per diem charges where applicable
$ 100.00
(c)
				In addition to the fees in (a) above, a per diem charge may be assessed when a
				special investigation of a filing is required.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 2 - PROCEDURAL RULES › Section 3:1-2.25 - Relaxation or dispensation of requirements of subchapter

Current through Register Vol. 56, No. 14, July 15, 2024
Any procedural requirements of this subchapter may be
				  relaxed or dispensed with by the Commissioner, in his or her discretion, in any
				  case where strict adherence thereto may be deemed inappropriate or unnecessary
				  or may result in injustice.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 3 - MORTGAGE LOANS IN DISASTER AREAS › Section 3:1-3.1 - 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.
"Commissioner" means the Commissioner of the Department of
				  Banking and Insurance of the State of New Jersey or his or her duly authorized
				  deputy or representative.
"Department" means the New Jersey Department of Banking and
				  Insurance.
"Disaster area" means any area of the State of New Jersey
				  which has been proclaimed to be a disaster by the President of the United
				  States or the Governor of New Jersey, or by any official lawfully succeeding to
				  their respective duties or duly authorized to act for them.
"Financial institution" means any bank, savings bank, savings
				  and loan association, or insurance company that is organized under the laws of
				  this State or is authorized to do business and is doing business under the laws
				  of this State and that is subject to the supervision of the Department of
				  Banking and Insurance of the State of New Jersey.
"Mortgage loan" means any loan made by a financial
				  institution which is secured by a mortgage constituting a lien upon real
				  property or upon a leasehold interest in the fee of real property. Such a
				  mortgage loan may be an existing mortgage loan or part interest thereof
				  purchased or otherwise acquired by a financial institution constituting a lien
				  upon real property or upon a leasehold interest in the fee of real
				  property.
"Period of emergency" means a period of time terminating one
				  year from the date upon which an area was proclaimed to be a disaster area.
				  Such period of time may be extended for not more than six months from the
				  termination date thereof if the Commissioner shall find that emergency
				  conditions affecting mortgage loans still prevail within a disaster
				  area.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 3 - MORTGAGE LOANS IN DISASTER AREAS › Section 3:1-3.2 - Duties of Commissioner

Current through Register Vol. 56, No. 14, July 15, 2024
(a) When any area
				of this State has been proclaimed to be a disaster area, the Commissioner shall
				investigate and review conditions in the disaster area to determine the extent
				of destruction and damage to real property and to determine whether or not real
				property which has been destroyed, damaged or materially affected by the
				disaster is subject to mortgage liens securing mortgage loans by any financial
				institution.
(b) If the
				Commissioner determines that real property within the disaster area,
				constituting the security of mortgage loans held by financial institutions has
				been destroyed, damaged or materially affected by the disaster, he may
				authorize financial institutions to exercise emergency mortgage powers as
				enumerated in
				3:1-3.3 Emergency mortgage powers
				exercisable by financial institutions.
(c) The Commissioner shall authorize the
				exercise of such emergency mortgage powers by declaring this subchapter to be
				immediately operative and effective and said declaration shall be announced
				publicly and circulated in newspapers and financial publications throughout the
				State.
(d) When any financial
				institution shall exercise or use any emergency mortgage powers, as enumerated
				in this subchapter, the Commissioner shall ascertain and determine in
				connection with and as part of the usual examinations and audits conducted by
				the Department concerning the affairs, conditions and status of such financial
				institutions, whether such financial institution has complied with the
				requirements enumerated in
				3:1-3.3.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 3 - MORTGAGE LOANS IN DISASTER AREAS › Section 3:1-3.4 - Preliminary requirements

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Before any
				financial institution may exercise or use any of the emergency powers as
				enumerated in this subchapter, said financial institution must comply with the
				following requirements:
1. It must obtain and
				file, a certification to be signed by an appraiser as required by N.J.A.C.
				3:1-8.2, which shall set forth the amount and extent of the damage or
				destruction sustained to the real property which is the security of any
				existing or proposed mortgage loan, a finding that such damage or destruction
				was caused by the disaster, and the amount required to pay for the cost of any
				construction, rehabilitation, alteration, repair or improvement of such real
				property.
2. It must obtain from
				the borrower or mortgagor a sworn statement which shall set forth the proceeds
				of any mortgage loan shall be used to pay the cost of construction,
				rehabilitation, alteration, repair or improvement of the real
				property.
3. Such certifications
				and statements shall be kept on file with the financial institution.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 3 - MORTGAGE LOANS IN DISASTER AREAS › Section 3:1-3.5 - Limitations

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Notwithstanding
				any other provision of this subchapter, no financial institution shall exercise
				or use any emergency mortgage powers as enumerated herein unless it complies
				with the following limitations:
1. The amount
				of funds which a bank may invest or advance in any mortgage loan made pursuant
				to this subchapter shall not exceed 10 percent of its aggregate capital stock,
				surplus and undivided profits accounts.
2. The amount of funds which a savings bank
				may invest or advance in any mortgage loan made pursuant to this subchapter
				shall not exceed 10 percent of its surplus account.
3. The amount of funds, which a savings and
				loan may invest or advance in any mortgage loan made pursuant to this
				subchapter shall not exceed one percent of capital.
4. The amount of funds, which an insurance
				company may invest or advance in any mortgage loan made pursuant to this
				subchapter shall not exceed that permitted under the insurance laws of this
				State.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 6 - FEES › Section 3:1-6.5 - Annual review

Current through Register Vol. 56, No. 14, July 15, 2024
The fees assessed by this subchapter shall be reviewed at
				  least annually and if necessary shall be increased or decreased in accordance
				  with the services performed by the Department.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 6 - FEES › Section 3:1-6.6 - Examination charge and per diem rate

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The individual
				per hour per person examination charge for an examination of a person not
				assessed under N.J.A.C. 3:5 shall be $ 42.00, plus $ 15.00 per day for travel
				expenses for in-State travel. This examination charge is also referred to as
				the per diem rate. The fee for out-of-State travel shall approximate the cost
				of this travel.
(b) The Department
				shall bill examination charges in increments of one-half hour.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 6 - FEES › Section 3:1-6.7 - Failure to pay fees or examination charges

Current through Register Vol. 56, No. 14, July 15, 2024
(a) If a person
				pays an examination charge, application fee, or any other fee or charge, other
				than an assessment made under N.J.A.C. 3:5, with a check which is returned for
				insufficient funds or is not paid for any other reason, the Department shall
				advise the person by letter. The person shall have 20 days from the date of
				such letter to provide the Department with a certified or cashier's check
				payable to the Treasurer, State of New Jersey for the amount of the dishonored
				check plus $ 10.00. If the Department does not receive a certified or cashier's
				check within 20 days of the date of this letter, the Department shall suspend
				the license of the person or the authority of the person to conduct business in
				this State until payment by certified or cashier's check is received.
				3:1-7.6(b)  shall
				apply to all returned checks submitted in payment of assessments imposed
				pursuant to N.J.A.C. 3:5.
(b) If a
				person fails to pay an examination charge within 30 days after the bill is
				sent, the Department shall send a second billing. The person shall have 20 days
				from the date of such letter to provide the Department with payment of the fee.
				If the person fails to provide such payment within 20 days, the Department
				shall suspend the license of the person or the authority of the person to
				conduct business in this State until payment is received.
(c) Prior to a suspension set forth in (a) or
				(b) above, the person may request a hearing pursuant to the Administrative
				Procedure Act,
				52:14B-1 et seq. and the Uniform
				Administrative Procedure Rules, N.J.A.C. 1:1. The person shall place the
				disputed amount in escrow pending disposition of the hearing and shall provide
				proof of same to the Department.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 7 - MISCELLANEOUS › Section 3:1-7.1 - Name change

Current through Register Vol. 56, No. 14, July 15, 2024
A licensee who makes any change in name shall, within 10
				  days of such change, submit written proof of the name change to the
				  Commissioner, and shall surrender its license or licenses for issuance of a new
				  license or licenses reflecting the change. The licensee shall submit evidence
				  of the name change in the form of a copy of the amended certificate of
				  incorporation, alternate name registration, or amended certificate of authority
				  bearing the dated filing stamp of the Department of Treasury, Division of
				  Revenue or a copy of the trade name certificate filed with the office of the
				  county clerk of the county in which the business is located. Within 30 days of
				  receipt of the notice of name change, and all documentation necessary to
				  effectuate the change, the Commissioner shall issue a new license that reflects
				  the change. While the licensee is awaiting the issuance of the license, the
				  licensee may continue in business, provided that all documents are supplied,
				  unless the licensee receives a notice of suspension or revocation, or unless
				  the licensing period, if any, expires.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 7 - MISCELLANEOUS › Section 3:1-7.2 - Duplicate licenses and certificates

Current through Register Vol. 56, No. 14, July 15, 2024
(a) A licensee may
				request a duplicate license or certificate when the original license or
				certificate issued has been lost or destroyed.
(b) The request for the issuance of such
				duplicate license or certificate shall be made on forms available from the
				Department.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 7 - MISCELLANEOUS › Section 3:1-7.3 - Requests for certificate of standing, licensee verification, licensing statutes and licensee listings

Current through Register Vol. 56, No. 14, July 15, 2024
(a) The Department
				shall furnish, upon written request, a certificate of standing with seal for a
				licensee. The fee shall be $ 30.00 per certificate if the requester is not
				subject to assessment pursuant to N.J.A.C. 3:5 but no fee shall be charged if
				the requester is subject to assessment.
(b) The Department shall furnish upon written
				request a licensee verification, indicating if a person or entity is licensed
				and its main office. The fee shall be $ 10.00 per verification if the requester
				is not subject to assessment pursuant to N.J.A.C. 3:5 but no fee shall be
				charged if the requester is subject to assessment.
(c) The Department shall furnish, upon
				written request, a copy of licensing statutes or licensee listings. The fee
				shall be $ 0.75 per page for the first 10 pages, $ 0.50 per page for the 11th
				to 20th pages and $ 0.25 per page for all pages over 20 or as otherwise
				established by
				47:1A-1 et seq.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 7 - MISCELLANEOUS › Section 3:1-7.4 - Address and official e-mail address change

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Each licensee
				referenced in
				3:23-2.1 that changes a licensed
				business address at any time shall, within 10 days of the change, submit
				information relative to the address change to the Commissioner, and surrender
				the affected license or licenses; except that pawnbrokers, check cashers and
				insurance premium finance companies shall comply with the provisions of
				3:16-1.6,
				3:24-1.5(h), or
				17:16D-4, respectively. Licensees
				submitting a notice of change of address pursuant to this section shall submit
				their license or licenses for the issuance of the new license reflecting the
				change. Within 30 days of receipt of the notice of change of address and all
				documentation necessary to effectuate the change, the Commissioner shall issue
				a new license or licenses that reflect the change. With the exception of check
				cashers, while the licensee is awaiting the issuance of the license or licenses
				reflecting the new address, the licensee may continue in business, provided
				that all documentation is supplied, unless the licensee receives notice of
				suspension or revocation, or unless the licensing period if any,
				expires.
(b) Each licensee
				referenced in
				3:23-2.1 that changes its official
				e-mail address shall, within 10 days of the change, notify the Department in
				writing of such a change. The written notice shall be supplied on letterhead
				signed by an officer of the licensed entity and include the full name of the
				entity, its old e-mail address, its new e-mail address and the effective date
				of the change. The notice shall be sent to: New Jersey Department of Banking
				and Insurance, Division of Banking, Attention: Office of Consumer Finance, 20
				West State Street, P.O. Box 040, Trenton, New Jersey 08625-0040.
New Jersey Administrative Code › Title 3 - BANKING › Chapter 1 - GENERAL PROVISIONS › Subchapter 7 - MISCELLANEOUS › Section 3:1-7.5 - Fees subject to review

Current through Register Vol. 56, No. 14, July 15, 2024
The fees in the schedules of this subchapter shall be
				  subject to periodic review and shall be increased or decreased in accordance
				  with the cost of the services performed by the Department.