N.J. Admin. Code § 3:36-3.1

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

Section 3:36-3.1 - Approval of a district by the Commissioner

(a) The Commissioner may approve a complete application if he or she determines that there is a demonstrated need for banking services within the geographic area specified in the application as the proposed district.

(b) The criteria to be considered by the Commissioner to determine a demonstrated need for banking services shall be:

1. The location, number, and proximity of existing locations where banking services are currently available within the proposed district;

2. The identification of consumer needs for banking services within the proposed district;

3. The economic viability and local credit needs of the community within the proposed district;

4. The existing commercial development within the proposed district; and

5. The impact additional banking services would have on potential economic development in the proposed district.

N.J. Admin. Code § 3:36-3.1