N.J. Admin. Code § 3:21-3.6

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

Section 3:21-3.6 - Conditions to remain in good standing to operate a branch

(a) As a condition to continue to be authorized to maintain a branch in this State, an out-of-State state chartered credit union shall:

1. Not grant loans at interest rates that are higher than is permitted for credit unions incorporated pursuant to 17:13-79 et seq.;

2. Comply with any consumer protection statutes or regulations that are applicable to credit unions incorporated pursuant to 17:13-79 et seq.; and

3. Designate and maintain an agent in this State for receipt of service of process and inform the Department of the name and address of the agent and any change regarding the name and address of the agent.

(b) As a condition to continue to be authorized to maintain a branch, a New Jersey State chartered credit union shall comply with all provisions of 17:13-79 et seq. and any rules adopted pursuant to that statute.

N.J. Admin. Code § 3:21-3.6