2016 New Jersey Revised Statutes
Title 17 - Corporations And Institutions For Finance And Insurance
Section 17:16E-3 - Mutual Directors, Officers Or Managers Of Financial Institutions In Same, Adjacent, Or Contiguous Municipalities; Prohibition
17:16E-3. Mutual directors, officers or managers of financial institutions in same, adjacent, or contiguous municipalities; prohibition
Except as otherwise provided in section 6 of this act no person who is a director, officer or manager of a financial institution which has a principal or branch office in a particular municipality shall serve as a director, officer or manager of another financial institution which has a principal or branch office in the same municipality or in a contiguous or adjacent municipality.
L.1975, c. 265, s. 3, eff. Jan. 1, 1976.
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