N.J. Admin. Code § 3:4-4.3

Current through Register Vol. 56, No. 11, June 3, 2024

Section 3:4-4.3 - Prohibited activities

(a) Except as may be permitted by (b) below and by 3:4-4.4 through 4.6 for the particular types of agents referenced therein, and by 3:4-4.7, foreign banks and their-agents are prohibited from engaging in the following activities, which constitute transacting business in this State.

1. Accepting retail deposits;

2. Soliciting loans in person or through New Jersey media;

3. Receiving or accepting loan applications;

4. Making loans, including any types of loans specifically defined in 3:4-4.2;

5. Making loan underwriting decisions; or

6. Accepting fees other than in conjunction with closings.

(b) The prohibitions in (a) above shall not apply to an insured depository institution affiliate of a foreign bank.

N.J. Admin. Code § 3:4-4.3