New Jersey Administrative Code › Title 3 - BANKING › Chapter 33 - PROPOSED INTERSTATE ACQUISITION › Subchapter 1 - DETERMINATION OF ELIGIBILITY › Section 3:33-1.2 - Content of application

Current through Register Vol. 56, No. 14, July 15, 2024
(a) Any
				out-of-State insured savings association or out-of-State savings and loan
				holding company proposing to acquire and retain control of a New Jersey insured
				savings association or a New Jersey savings and loan holding company pursuant
				to 17:12B-278 et seq. shall submit an
				application to the Commissioner. The application shall comply with
				17:12B-279 and shall contain the
				following information:
1. The name and
				location of the applicant;
2. The
				name and location of each New Jersey insured savings association or New Jersey
				savings and loan holding company to be acquired;
3. Certified copies of:
i. The board resolution of the applicant
				authorizing the proposed acquisition of each New Jersey insured savings
				association or New Jersey savings and loan holding company; and
ii. The board resolution of each New Jersey
				insured savings association or New Jersey savings and loan holding company
				approving the proposed acquisition if such approval has been adopted;
4. A schedule reflecting the name,
				location and total aggregate deposits of each savings and loan subsidiary of
				the applicant, as of the date of the last thrift financial report required by
				the Department;
5. Copies of the
				current reciprocal legislation of each of the states in which a savings and
				loan subsidiary of the applicant is located;
6. A listing of any limitations or
				restrictions on the acquisition or ownership of an insured savings association
				or savings and loan holding company in the state in which the applicant is
				located that would be imposed on the acquisition of an insured savings
				association or savings and loan holding company in that state by a New Jersey
				insured savings association or New Jersey savings and loan holding
				company;
7. The name and location
				of any out-of-State savings and loan holding company that has direct or
				indirect control of the applicant. A controlling out-of-State insured savings
				association or out-of-State savings and loan holding company shall submit the
				information which is prescribed in the application to assist the Commissioner
				in determining whether the controlling out-of-State insured savings association
				or savings and loan holding company is an eligible insured savings association
				or eligible savings and loan holding company;
8. If the applicant has formally filed for
				the acquisition of any additional insured savings association subsidiaries with
				the State of New Jersey or with any agency of another state or of the Federal
				government, the applicant shall submit to the Commissioner the information
				required by those applications; and
9. The applicant shall submit a statement
				that it will notify the Commissioner in the event it subsequently obtains or
				divests control of any insured savings association or savings and loan holding
				company, or if another insured savings association or savings and loan holding
				company obtains direct or indirect control of the applicant.