New Jersey Administrative Code
Title 3 - BANKING
Chapter 36 - BANKING DEVELOPMENT DISTRICTS
Subchapter 3 - APPROVAL OF DISTRICTS
Section 3:36-3.1 - Approval of a district by the Commissioner
Universal Citation: NJ Admin Code 3:36-3.1
Current through Register Vol. 56, No. 18, September 16, 2024
(a) The Commissioner may approve a complete application if he or she determines that there is a demonstrated need for banking services within the geographic area specified in the application as the proposed district.
(b) The criteria to be considered by the Commissioner to determine a demonstrated need for banking services shall be:
1. The location, number, and proximity of
existing locations where banking services are currently available within the
proposed district;
2. The
identification of consumer needs for banking services within the proposed
district;
3. The economic viability
and local credit needs of the community within the proposed district;
4. The existing commercial development within
the proposed district; and
5. The
impact additional banking services would have on potential economic development
in the proposed district.
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