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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 14a:
Section: 17:14a-54: Control of safe deposit company; "control" defined
As used in R.S. 17:14A-53, "control" means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a safe deposit company, whether by means of the ownership of the stock or equity interests of the safe deposit company by means of a contractual arrangement, or otherwise. Control shall be presumed to exist if any person or company, directly or indirectly, owns, controls or holds with power to vote 10\% or more of the stock of the safe deposit company or of any company which owns, controls or holds with power to vote 10\% or more of the stock of the safe deposit company, but a person shall not be deemed to control a safe deposit company solely by reason of his being an officer or director of the safe deposit company.
L.1983, c. 566, s. 17:14A-54.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:14a-54 (if available):
Court decisions that cite this statute:
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