New Jersey Administrative Code
Title 3 - BANKING
Chapter 11 - INVESTMENTS
Subchapter 7 - LIMITATION OF LIABILITY TO A BANK, SAVINGS BANK OR STATE ASSOCIATION
Section 3:11-7.4 - Exclusion of obligations from 25 percent limitation
Universal Citation: NJ Admin Code 3:11-7.4
Current through Register Vol. 56, No. 18, September 16, 2024
If the bank's files or the knowledge of its officers of the financial condition of each maker of such obligations is reasonably adequate, and upon certification by an officer of the bank designated for that purpose by the board of directors of the bank that the responsibility of each maker of such obligations has been evaluated and the bank is relying primarily upon each such maker for the payment of such obligations, the limitations of 17:9A-62 as to the obligations of each such maker shall be the sole applicable loan limitation.
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