2009 New Jersey Code
TITLE 17 - CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Section 17:12B

• 17:12B-1 - Construction as revision of prior laws
• 17:12B-2 - Citation
• 17:12B-3 - Application of act
• 17:12B-3.1 - Contracts with association supervisors of other states
• 17:12B-4 - Determination of members' rights and liabilities
• 17:12B-5 - Definitions
• 17:12B-6 - Gross income
• 17:12B-7 - Net income
• 17:12B-8 - Principal office;  branch office;  auxiliary office;  remote service unit
• 17:12B-9 - Agency
• 17:12B-10 - Per capita assets
• 17:12B-11 - Mortgage deemed first lien
• 17:12B-12 - Purposes
• 17:12B-13 - Persons who may form corporation
• 17:12B-14 - Contents of certificate of incorporation of a mutual association
• 17:12B-15 - Original by-laws
• 17:12B-16 - Application to commissioner for approval
• 17:12B-17 - Notice of application and hearing thereon
• 17:12B-18 - Guaranty account
• 17:12B-19 - Hearing
• 17:12B-20 - Commissioner's findings as to mutual association application
• 17:12B-21 - Commissioner's decision
• 17:12B-22 - Certificate to be filed
• 17:12B-23 - Time limit for commencing business
• 17:12B-24 - Establishment, operation of branch offices by State association
• 17:12B-24.1 - Change of location of office of State association
• 17:12B-24.2 - Powers of out-of-State, State association
• 17:12B-27.2 - Time limit for opening branch office;  discontinuance of branch office
• 17:12B-28 - Interchange of principal and branch offices
• 17:12B-29 - Auxiliary offices
• 17:12B-30 - Auxiliary office, establishment, location
• 17:12B-31 - Auxiliary office, permitted business transactions
• 17:12B-32 - Business to be transacted only with persons outside structure
• 17:12B-33 - Property to be used for auxiliary office;  parking facilities
• 17:12B-34 - Auxiliary office not deemed branch or limited facility branch office
• 17:12B-35 - Other powers not affected
• 17:12B-36 - Measurement of distances
• 17:12B-37 - Agencies
• 17:12B-37.1 - Remote service units;  establishment or use;  sharing; regulations
• 17:12B-38 - By-laws
• 17:12B-38.1 - Association official immunity
• 17:12B-39 - Commissioner's approval required
• 17:12B-40 - Change of office location
• 17:12B-40.1 - Failure to open and operate relocated principal office; effect
• 17:12B-45 - Failure to open and operate relocated principal office; effect
• 17:12B-46 - Change of name
• 17:12B-46.1 - Definitions relative to emergency closings
• 17:12B-46.2 - Proclamation of emergency
• 17:12B-46.3 - Action by officers after proclamation of emergency
• 17:12B-46.4 - Duration of emergency
• 17:12B-46.5 - Action by officers when no emergency proclaimed
• 17:12B-46.6 - Responsibility of officers
• 17:12B-46.7 - Notice to commissioner
• 17:12B-46.8 - Effect of emergency closing
• 17:12B-46.9 - Associations to be saved harmless
• 17:12B-46.10 - Regulations of the commissioner
• 17:12B-46.11 - Construction of act
• 17:12B-46.12 - Short title
• 17:12B-47 - General powers
• 17:12B-48 - Powers of association
• 17:12B-49 - Rental and maintenance of safe deposit boxes
• 17:12B-50 - Pension plans
• 17:12B-51 - Provisions of pension plan
• 17:12B-52 - Eligibility for pension payments
• 17:12B-53 - Determination of amount;  specification in pension plan
• 17:12B-54 - Excess payments;  employee contributions
• 17:12B-55 - Death benefits
• 17:12B-56 - Appropriation for payments;  merger of associations
• 17:12B-57 - Submission of pension plan for approval of commissioner
• 17:12B-58 - Plans sponsored by federal home loan banks
• 17:12B-59 - Contracts for pension payments to retired officers and employees
• 17:12B-60 - Discontinuance of participation in pension plan
• 17:12B-61 - Transmission of money;  money orders;  travel checks
• 17:12B-62 - Directors, number, powers
• 17:12B-62.1 - Association deemed in compliance with prohibition on interlocking relationships
• 17:12B-63 - Director's election;  vacancies
• 17:12B-64 - Attorneys;  employees
• 17:12B-65 - Officers
• 17:12B-66 - Officers' powers
• 17:12B-67 - Oath of office of directors and officers
• 17:12B-67.1 - Disqualification of officers, directors or employees; conviction of crime;  pendency of appeal
• 17:12B-67.2 - Penalty
• 17:12B-68 - Minimum account requirements for directors
• 17:12B-69 - Loans to officers, directors, attorneys or employees
• 17:12B-70 - Default by directors and officers
• 17:12B-71 - Restriction upon purchase of accounts
• 17:12B-72 - Limitation of expenses
• 17:12B-73 - Bonds required;  indemnification of officers, directors and employees
• 17:12B-74 - Membership generally
• 17:12B-75 - Plans
• 17:12B-76 - Nonshare plan
• 17:12B-77 - Share plan
• 17:12B-78 - Limitation upon accounts
• 17:12B-79 - Forms of certificate
• 17:12B-80 - Governmental agencies may be members
• 17:12B-81 - Minors
• 17:12B-82 - Membership trust accounts
• 17:12B-83 - Applicability to moneys paid to account by trustee under will, other fiduciary instrument, court order or decree
• 17:12B-84 - Release from claims of fiduciaries, beneficiaries or legal representatives
• 17:12B-85 - Rights of beneficiary on death of fiduciary;  effect of laws requiring valid testamentary disposition
• 17:12B-86 - Applicability to federal associations having principal offices in state
• 17:12B-87 - Authority of attorney to manage or make withdrawals from account
• 17:12B-89 - Payment to credit of account of beneficiaries or their order
• 17:12B-90 - Payment to credit of account when beneficiaries under 16 years of age
• 17:12B-91 - Payment when account terminated and one or more beneficiaries under, and one or more beneficiaries over, 16 years of age
• 17:12B-103 - Pledge of account to association
• 17:12B-106 - Acceptance of accounts in name of one or more administrators, custodians, executors, guardians, trustees or other fiduciaries in trust for named beneficiary
• 17:12B-109 - Necessity for actual notice of death or incompetency of savings  member
• 17:12B-110 - Transfer of membership
• 17:12B-111 - Lost certificates and account books
• 17:12B-112 - Termination of membership
• 17:12B-113 - Notice to members
• 17:12B-114 - Meeting place
• 17:12B-115 - Meetings
• 17:12B-116 - Quorum
• 17:12B-117 - Confidential relationship of an association to its members
• 17:12B-118 - Procedure to obtain information or communicate with members
• 17:12B-119 - Costs and expenses incidental to application for information; payment by applicant
• 17:12B-120 - Application for communication with other members; preparation and mailing of copies of communication;  payment of costs and expenses by applicant
• 17:12B-121 - Application for order requiring state association to grant application for information or to communicate with members
• 17:12B-122 - Hearing before commissioner;  designation of time and place; notice;  adjournments
• 17:12B-123 - Merits of application;  determinations by commissioner
• 17:12B-124 - Decision of commissioner;  filing memorandum;  notice
• 17:12B-125 - Exclusive procedure;  review of commissioner's action; effect of failure to act
• 17:12B-125.1 - Application of sections 118 through 124 to federal associations
• 17:12B-126 - Voting rights of members
• 17:12B-127 - Determination of net income
• 17:12B-128 - General reserve, bad debt reserves and Federal insurance reserve accounts
• 17:12B-129 - Special reserve accounts
• 17:12B-130 - Dividend participation;  exceptions
• 17:12B-131 - Undivided profits account
• 17:12B-132 - Restrictions upon reserves and undivided profits account
• 17:12B-133 - Reward profit or bonus plan
• 17:12B-134 - Application for withdrawal
• 17:12B-135 - Cancellation of withdrawal application
• 17:12B-136 - Association operating under Plan 1;  payment on presentation of  withdrawal application or other notice
• 17:12B-137 - Association operating under other than Plan I;  payment on presentation of withdrawal application;  other procedure
• 17:12B-138 - Funds required for withdrawals
• 17:12B-139 - Rotation plan
• 17:12B-140 - Payment of withdrawals on other plans and purchase of accounts  prohibited;  authority of commissioner
• 17:12B-141 - Application of withdrawal value to indebtedness
• 17:12B-142 - Dividend retention
• 17:12B-143 - Restrictions on actions
• 17:12B-144 - Retirement
• 17:12B-145 - Investments authorized
• 17:12B-145.1 - Origination, acquisition of mortgage loans by association
• 17:12B-155 - Procedure for making other loans
• 17:12B-156 - Investments in additional loans
• 17:12B-157 - Property improvement loans without mortgage liens
• 17:12B-158 - Definitions as used in sections 159 through 164 (C. 17:12B-159  through C. 17:12B-164) of this act
• 17:12B-159 - Limitations on such loans
• 17:12B-160 - Charges on such loans
• 17:12B-162 - Schedules of charges
• 17:12B-163 - Rebates on prepayment
• 17:12B-164 - Other charges in connection with loans
• 17:12B-165 - Other investments, securities
• 17:12B-166 - Real estate
• 17:12B-168 - Limitations on amounts of real estate loans and investments
• 17:12B-169 - Restrictions on investments
• 17:12B-170 - Report of financial condition available to members
• 17:12B-171 - Reports to commissioner; violations, penalties
• 17:12B-172 - Examination, inspection, supervision of associations
• 17:12B-173 - Exhibition of books, papers, securities, oaths; subpoena
• 17:12B-174 - False testimony;  perjury
• 17:12B-175 - Immunity to violator testifying
• 17:12B-176 - Audits
• 17:12B-177 - Commissioner's additional powers
• 17:12B-178 - Order to continue illegal, unsafe practices; violations, penalty
• 17:12B-179 - Grounds for action by commissioner
• 17:12B-180 - Conservation orders
• 17:12B-181 - Action for relief
• 17:12B-182 - Commissioner's authority
• 17:12B-183 - Purpose of possession and operation by commissioner
• 17:12B-184 - Return of management and possession
• 17:12B-185 - Powers of commissioner in possession
• 17:12B-186 - Appointment and compensation of counsel and assistants
• 17:12B-187 - Segregation and application of money paid after commissioner takes possession
• 17:12B-188 - Effect of commissioner's possession on rights of third persons
• 17:12B-189 - Financial statements by commissioner
• 17:12B-190 - Dissolution;  Liquidation;  Action by members
• 17:12B-191 - Relief in court from commissioner's action
• 17:12B-192 - Disposition of unclaimed funds due to members and creditors
• 17:12B-193 - Liquidation and accounting by commissioner
• 17:12B-194 - Action upon commissioner's refusal to act
• 17:12B-195 - Proceedings before commissioner
• 17:12B-196 - Applications for commissioner's approval
• 17:12B-197 - Bookkeeping methods and accounting practices;  destruction of books, records, et cetera
• 17:12B-198 - Authority
• 17:12B-198.1 - Merger between State, out-of-State associations
• 17:12B-199 - Procedure;  notice;  approval on expedited basis
• 17:12B-200 - Terms
• 17:12B-201 - Recording of agreement
• 17:12B-202 - Application for establishment of section 27 branch office or offices
• 17:12B-203 - Effect of merger
• 17:12B-204 - Bulk transfers
• 17:12B-205 - Certificate of transfer of assets;  resultant liquidating corporation
• 17:12B-206 - Purchase of assets;  inapplicability of Article X
• 17:12B-207 - Liquidating corporations
• 17:12B-208 - Creditors;  claims barred
• 17:12B-209 - Notice of dispute;  limitation of action
• 17:12B-210 - Applicability of sections 17:12B-208, 17:12B-209 to indebtedness on loan to enable association to effect sale of assets
• 17:12B-211 - Jurisdiction of Superior Court
• 17:12B-212 - Termination of corporate existence
• 17:12B-213 - "Foreign association" defined 
• 17:12B-214 - Business prohibited within State, exceptions
• 17:12B-215 - Violation;  penalty
• 17:12B-216 - Filing copy of application and statement of acceptance or rejection
• 17:12B-217 - Terminating insurance
• 17:12B-218 - Powers of commissioner not impaired
• 17:12B-219 - Joint powers with insurance corporation
• 17:12B-220 - Powers of insurance corporation
• 17:12B-221 - Voting rights
• 17:12B-222 - Procedure
• 17:12B-223 - Corporate existence continued upon conversion
• 17:12B-224 - Conversion from Federal to State charter; procedure
• 17:12B-225 - Approval by commissioner;  filing of certificate; corporate existence continued
• 17:12B-226 - Fees, charges
• 17:12B-227 - Payment of commissioner's expenses
• 17:12B-228 - Dissolution
• 17:12B-229 - Definition of liquidation
• 17:12B-230 - Continuation of corporate existence
• 17:12B-231 - Trustees;  bonds;  removal;  successors;  action by majority
• 17:12B-232 - Liquidation period;  extension
• 17:12B-233 - Powers
• 17:12B-234 - Creditors; claims barred
• 17:12B-235 - Application of participation value to indebtedness
• 17:12B-236 - Sinking fund mortgages;  extension of time for payment
• 17:12B-237 - Notice to sinking fund mortgagors
• 17:12B-238 - Commissioner's jurisdiction
• 17:12B-239 - Accounting by trustees;  examination by commissioner; report to members;  notice to creditors
• 17:12B-240 - Jurisdiction of Superior Court;  trustees;  compensation
• 17:12B-241 - Insured accounts eligible investment for trust and public funds, and savings banks and as security
• 17:12B-242 - Separability;  partial invalidity
• 17:12B-243 - Effective date
• 17:12B-244 - Definitions applicable to capital stock associations
• 17:12B-245 - Persons who may incorporate a capital stock association
• 17:12B-246 - Contents of certificate of incorporation of a capital stock association
• 17:12B-247 - Filing of certificate of incorporation of capital stock association
• 17:12B-248 - Capital stock and surplus
• 17:12B-249 - Commissioner's findings as to a capital stock association
• 17:12B-250 - Powers available to capital stock association
• 17:12B-250.1 - Capital stock association official immunity
• 17:12B-251 - Directors' election, vacancies
• 17:12B-252 - Liability of stockholders
• 17:12B-253 - Notice to stockholders
• 17:12B-254 - Meeting place
• 17:12B-255 - Meetings of stockholders
• 17:12B-256 - Quorum for stockholders' meetings
• 17:12B-257 - Voting rights of stockholders
• 17:12B-258 - Reports to stockholders
• 17:12B-259 - Dividends on capital stock
• 17:12B-260 - Books and records of capital stock associations;  right of inspection
• 17:12B-261 - Conversion of mutual association to capital stock association
• 17:12B-262 - Plan of conversion
• 17:12B-263 - Adequate reserve and capital requirements
• 17:12B-264 - Power to create, issue capital stock; provision for authorized but unissued stock; certificate of amendment
• 17:12B-265 - Supervision of capital stock associations
• 17:12B-266 - Merger of capital stock associations
• 17:12B-267 - Conversion of a capital stock association into a Federal association
• 17:12B-268 - Conversion of a Federal association into a capital stock association
• 17:12B-269 - Commencement of business of capital stock association
• 17:12B-270 - Dissolution and liquidation of capital stock association
• 17:12B-271 - Construction of inconsistent provisions
• 17:12B-272 - Rules and regulations
• 17:12B-277 - Separability;  partial invalidity
• 17:12B-278 - Definitions
• 17:12B-279 - Conditions for acquisition; control
• 17:12B-280 - Acquisitions in other states permitted
• 17:12B-281 - Definitions
• 17:12B-282 - Information to commissioner
• 17:12B-283 - Examination; report
• 17:12B-284 - Notice of proposed acquisition to commissioner
• 17:12B-285 - Fees
• 17:12B-286 - FSLIC insurance required
• 17:12B-287 - Management by commissioner
• 17:12B-288 - Insurance required for charter
• 17:12B-289 - Rules, regulations
• 17:12B-290 - Violations; penalties
• 17:12B-291 - Approval required for use of word "savings bank S.L.A."
• 17:12B-292 - Definitions
• 17:12B-293 - Approval of commissioner needed to acquire more than 25% of voting shares
• 17:12B-294 - Application for approval; hearing; exemption limitations
• 17:12B-295 - Factors used in determining approval
• 17:12B-296 - Shares acquired in violation not counted; shares to be registered
• 17:12B-297 - Cease and desist orders; injunction; penalties
• 17:12B-298 - Formation of mutual state association holding company
• 17:12B-299 - Contents of certificate of incorporation
• 17:12B-300 - Approval of charter
• 17:12B-301 - Powers of mutual state association holding company
• 17:12B-302 - Board of directors
• 17:12B-303 - Powers of board
• 17:12B-304 - Board officers; compensation
• 17:12B-305 - Distribution of surplus
• 17:12B-306 - Retention of interest in assets
• 17:12B-307 - Certificate of incorporation for subsidiary
• 17:12B-308 - Certificate of incorporation, affidavit to commissioner; contents of affidavit
• 17:12B-309 - Charter approval
• 17:12B-310 - Powers of stockholders, board of directors
• 17:12B-311 - Bylaws
• 17:12B-312 - Amendment of certificate of incorporation
• 17:12B-313 - Governance of subsidiary
• 17:12B-314 - Dividends
• 17:12B-315 - Merger
• 17:12B-316 - Merger or purchase or retention of assets and assumption of liabilities
• 17:12B-317 - Alternative to formation of subsidiary
• 17:12B-318 - Contents of amended certificate of incorporation
• 17:12B-319 - Rules, regulations