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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 9a:
Section: 17:9a-213.1: Limitation on powers of banks, savings banks.
213.1. Except as in this act or otherwise by law provided, and except for letters of credit issued pursuant to N.J.S.12A:5-101 et seq., no bank or savings bank shall have power to guarantee the obligations of others; or to insure or indemnify against the acts, omissions, undertakings, liabilities or losses of others.
L.1948,c.67,s.213.1; amended 1997, c.395, s.11.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:9a-213.1 (if available):
Court decisions that cite this statute:
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