New Jersey Administrative Code
Title 3 - BANKING
Chapter 11 - INVESTMENTS
Subchapter 4 - INVESTMENT BY BANK IN CAPITAL STOCK OF BANK PRINCIPALLY ENGAGED IN INTERNATIONAL OR FOREIGN BANKING
Section 3:11-4.1 - Authorization
Universal Citation: NJ Admin Code 3:11-4.1
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Banks are authorized to subscribe for purchase and hold stock of one or more banks or corporations chartered or incorporated under the laws of the United States or of any state thereof, and principally engaged in international or foreign banking, as defined and authorized under section 25(a) of the Federal Reserve Act, provided that:
1. Qualification to
invest: The total capital stock and surplus of the bank making such investment
or investments shall not be less than $ 1,000,000;
2. Limitations on investment: The total
amount invested in all such banks or corporations shall not exceed 10 percent
of the total capital stock and surplus of the bank.
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