New Jersey Administrative Code
Title 3 - BANKING
Chapter 21 - CREDIT UNIONS
Subchapter 3 - BRANCHING BY A STATE CHARTERED CREDIT UNION
Section 3:21-3.6 - Conditions to remain in good standing to operate a branch
Universal Citation: NJ Admin Code 3:21-3.6
Current through Register Vol. 56, No. 18, September 16, 2024
(a) As a condition to continue to be authorized to maintain a branch in this State, an out-of-State state chartered credit union shall:
1. Not grant loans at interest rates that are
higher than is permitted for credit unions incorporated pursuant to
17:13-79 et seq.;
2. Comply with any consumer protection
statutes or regulations that are applicable to credit unions incorporated
pursuant to
17:13-79 et seq.; and
3. Designate and maintain an agent in this
State for receipt of service of process and inform the Department of the name
and address of the agent and any change regarding the name and address of the
agent.
(b) As a condition to continue to be authorized to maintain a branch, a New Jersey State chartered credit union shall comply with all provisions of 17:13-79 et seq. and any rules adopted pursuant to that statute.
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