N.J. Admin. Code § 3:7-5.2

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

Section 3:7-5.2 - Filing a statement of interest

(a) Every director or executive officer of a bank shall, on forms furnished by the Commissioner, complete and file a statement of interest with the designated bank within 30 days after the effective date of this regulation or within 30 days after becoming a director or executive officer of the designated bank. The statement of interest shall include the following information:

1. Name of the designated bank;

2. Name of the reporting person;

3. Title or position of the reporting person with the designated bank;

4. Name and address of the business enterprise in which the reporting person has an interest.

(b) If a business enterprise reported in accordance with (a) above has a business relationship with the designated bank or State association, then the statement of interest shall also include:

1. The position or positions held by the reporting person, his or her spouse or minor children with the business enterprise;

2. The interest in the business enterprise held by the reporting person, his or her spouse or minor children. The approximate percentage or ownership held by the reporting person, his or her spouse or minor children, and the nature of any other forms of interest or influence exercised by each;

3. A summary of the business relationship between the designated bank and the business enterprise.

(c) The reporting person shall update his or her present statement of interest or file a new statement of interest within 30 days after the occurrence of any material change.

(d) If a reporting person has no interest in a business enterprise, he or she shall complete and file a statement of interest to that effect.

N.J. Admin. Code § 3:7-5.2

As amended, R.1982 d.245, eff. 8/2/1982.
See: 14 New Jersey Register 492(a), 14 New Jersey Register 834(d).
Amended definition of principal to executive officer.
Amended by R.2000 d.481, effective 12/4/2000.
See: 32 New Jersey Register 3385(a), 32 New Jersey Register 4253(a).
In (b), inserted a reference to State associations in the introductory paragraph.