New Jersey Administrative Code › Title 3 - BANKING › Chapter 6 - GENERAL PROVISIONS › Subchapter 1 - DEFINITIONS › Section 3:6-1.1 - Definitions

Current through Register Vol. 56, No. 14, July 15, 2024
The following words and terms, when used in the chapter,
				  shall have the following meanings, unless the context clearly indicates
				  otherwise.
"Bank" means a bank as defined in
				  17:9A-1(1).
"Banking institution" means a bank, savings bank, an
				  out-of-State bank having a branch office in this State, an out-of-country bank
				  having a branch office in this State, and a national banking association having
				  its principal or a branch office in this State.
"Capital funds" of a savings bank are deemed to include
				  capital notes of the savings bank for purposes of computing lending
				  limitations.
"Capital stock association" means a capital stock association
				  as defined in
				  17:12B-244(a).
"Capital stock savings bank" means a savings bank organized
				  or converted pursuant to
				  17:9A-8.1 to 8.17.
"De novo branch" means a new branch office of a banking
				  institution or foreign bank established not by means of the acquisition of an
				  existing insured depository institution or branch office of an insured
				  depository institution or by the means of the conversion, merger, or
				  consolidation of any such institution or branch office.
"Executive officer" means a person who participates or has
				  authority to participate, other than in the capacity of a director, in major
				  policy-making functions of the bank, whether or not: the person has an official
				  title; the title contains a designation of assistant; or the person is serving
				  without salary or other compensation. The chairman of the board, president,
				  every vice president, cashier, secretary, treasurer and comptroller are
				  considered to be executive officers, unless pursuant to resolution of the board
				  of directors or the bylaws of the bank any such executive officer is excluded
				  from participation in major policy-making functions, other than in the capacity
				  of a director, and the executive officer does not actually participate
				  therein.
"Foreign bank" means a company, other than a banking
				  institution, organized under the laws of the United States, another state or a
				  foreign government, which is authorized by the laws under which it is organized
				  to exercise some or all of the powers specified in
				  17:9A-24(4),
				  25(4)(5) and (13), and 28(3) through (9).
"Insured depository institution" means any banking
				  institution or state or Federally-chartered savings association, the deposits
				  of which are insured by the Federal Deposit Insurance Corporation.
"Issuer" means a qualified bank that acts either by itself or
				  with others as an underwriter of securities.
"Mutual association" means a mutual association as defined in
				  17:12B-5(31).
"Qualified bank" means a qualified bank as defined in
				  17:9A-1(12).
"Savings bank" means a savings bank as defined in
				  17:9A-1(13).
"State association" means a State association as defined in
				  17:12B-5(1).
"Trust account" means any account, relationship or
				  arrangement administered by a qualified bank acting in any capacity as defined
				  by 17:9A-28.