New Jersey Administrative Code
Title 3 - BANKING
Chapter 11 - INVESTMENTS
Subchapter 12 - SAVINGS BANKS: COMMERCIAL LOANS
Section 3:11-12.1 - Definitions

Universal Citation: NJ Admin Code 3:11-12.1
Current through Register Vol. 56, No. 18, September 16, 2024

The following words and terms, when used in this subchapter, shall have the following meanings unless the context clearly indicates otherwise:

"Commercial loans" means any secured or unsecured loan for commercial, corporate, business or agricultural purpose, other than any loans which may otherwise be authorized by law.

"Commissioner" means the Commissioner of the Department of Banking and Insurance of New Jersey.

"Department" means the Department of Banking and Insurance.

"Savings bank" means a savings bank as defined in 17:9A-1(13).

"Total assets" means the total asset figure reported in "Schedule RC-K-Quarterly Averages" submitted with the most recent Consolidated Report of Condition for Savings Banks filed with the Federal Deposit Insurance Corporation. In the event the specified schedule is redesignated, the total asset figure reported in the substituted schedule, as designated by the Department, is to be used.

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