New Jersey Administrative Code
Title 3 - BANKING
Chapter 13 - BANK HOLDING COMPANIES
Subchapter 5 - MUTUAL SAVINGS BANK HOLDING COMPANIES
Section 3:13-5.2 - Formation of mutual savings bank holding company

1. Plan 1: The board of directors may apply to incorporate a mutual savings bank holding company, transfer a portion of the organizing mutual savings bank's assets to the holding company, and then convert the organizing mutual savings bank to a subsidiary capital stock savings bank;

2. Plan 2: The board of directors may apply to incorporate a mutual savings bank holding company, form a subsidiary capital stock savings bank, and either merge the organizing mutual savings bank into the subsidiary capital stock savings bank or sell or transfer the assets and liabilities of the organizing mutual savings bank to the subsidiary capital stock savings bank and liquidate the organizing mutual savings bank;

3. Plan 3: The board of directors may apply to form a mutual savings bank holding company by incorporating a subsidiary capital stock savings bank, and by transferring a substantial part of the assets and liabilities of the organizing mutual savings bank to the newly formed subsidiary capital stock savings bank in return for a majority of its capital stock; or

4. Any other method of reorganization approved by the Commissioner.