N.J. Admin. Code § 3:13-1.1

Current through Register Vol. 56, No. 23, December 2, 2024

Section 3:13-1.1 - Definitions

The following words and terms, when used in this subchapter, shall have the following meanings, unless the context clearly indicates otherwise.

"Affiliate" means any company that controls, is controlled by, or is under common control with another company.

"Bank" shall have the same definition as provided in section 2 of the Federal "Bank Holding Company Act of 1956," 12 U.S.C. § 1841.

"Bank holding company" has the meaning set forth in subsection (a) of section 2 of the Federal "Bank Holding Company Act of 1956," 12 U.S.C. § 1841(a) and, unless the context requires otherwise, includes a New Jersey bank holding company, an out-of-State bank holding company and a foreign bank holding company.

"Bank supervisory agency" means any of the following:

1. The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies; and

2. Any agency of another state with primary responsibility for chartering and supervising banks.

"Branch" means an office, unit, station, facility, terminal, space or receptacle at a fixed location other than a principal office, however designated, at which any business that may be conducted in a principal office of a bank or savings bank may be transacted. "Branch office" includes full branch offices, minibranch offices and communication terminal branch offices.

"Commissioner" means the Commissioner of the New Jersey Department of Banking and Insurance.

"Company" has the meaning set forth in section 2 of the Federal "Bank Holding Company Act of 1956," 12 U.S.C. § 1841.

"Control" of a bank or bank holding company means control as defined in paragraph (2) of subsection (a) of the Bank Holding Company Act of 1956, 12 U.S.C. § 1841(a)(2).

"Foreign bank holding company" means a bank holding company that is organized under the laws of a country other than the United States, including any territory or possession thereof.

"Department" means the New Jersey Department of Banking and Insurance.

"Internal reorganization" means the repositioning of a bank or bank holding company within an affiliated family of entities under common control with no change of the ultimate control.

"New Jersey bank" means a bank that is:

1. Organized under New Jersey law, 17:9A-1 et seq.; or

2. Organized under Federal law and having its principal place of business in this State.

"New Jersey bank holding company" means a bank holding company that:

1. Has its principal place of business in this State; and

2. Is not controlled by a bank holding company other than a New Jersey bank holding company.

"Out-of-State bank holding company" means:

1. A bank holding company that is not a New Jersey bank holding company; and

2. Unless the context requires otherwise, includes a foreign bank holding company.

"Person" includes individuals, corporations, associations, societies, firms, partnerships, joint stock companies, trusts and any other group of persons, however organized.

"Subsidiary" shall have the meaning set forth in section 2 of the Federal "Bank Holding Company Act of 1956," 12 U.S.C. § 1841.

"United States" means the United States and includes any of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, and the Virgin Islands.

N.J. Admin. Code § 3:13-1.1

Recodified from 3:13-1.2 and amended by R.1996 d.483, effective 10/7/1996.
See: 28 New Jersey Register 2661(a), 28 New Jersey Register 4417(b).
Former section, "Scope and purpose", repealed.
Amended by R.1997 d.70, effective 2/18/1997.
See: 28 New Jersey Register 4831(a), 29 New Jersey Register 547(a).
Added "Department"; and amended "Branch" and "Commissioner".
Amended by R.2003 d.53, effective 2/3/2003.
See: 34 New Jersey Register 3152(a), 35 New Jersey Register 607(a).
Added "Internal reorganization".