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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 1: Department of Banking and Insurance reconstituted
Section: 17:1-27: Prohibited actions.
3. No bank, savings bank, State association, or any officer, director, employee, or major shareholder thereof, shall:
a. Fail to comply with an order or other written instruction of the commissioner or any other financial regulatory agency;
b. Violate a State or federal law;
c. Take any action, or fail to take an action, with the result that a material interest of the covered institution is adversely affected;
d. Be convicted of a crime that would permit adverse action by a governmental agency pursuant to P.L.1968, c.282 (C. 2A:168A-1 et seq.);
e. Provide incorrect, misleading, incomplete or untrue material information about the covered institution to the commissioner or any federal financial regulatory agency;
f. Withhold material information from the commissioner or any federal financial regulatory authority about the covered institution; or
g. Take an action, or fail to take an action, the result of which poses a substantial risk to the safety and soundness of the covered institution or may cause substantial damage to its reputation.
L.2005,c.195,s.3.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:1-27 (if available):
Court decisions that cite this statute:
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