N.J. Stat. § 17:9A-213.1
Current through L. 2023, c. 200.
Except as in this act or otherwise by law provided, and except for letters of credit issued pursuant to N.J.S. 12A:5-101 et seq., no bank or savings bank shall have power to guarantee the obligations of others; or to insure or indemnify against the acts, omissions, undertakings, liabilities or losses of others.
N.J.S. § 17:9A-213.1