New Jersey Administrative Code
Title 3 - BANKING
Chapter 6 - GENERAL PROVISIONS
Subchapter 16 - QUALIFIED BANK ACQUISITION OF UNDERWRITTEN SECURITIES
Section 3:6-16.1 - Definitions

Universal Citation: NJ Admin Code 3:6-16.1

Current through Register Vol. 56, No. 18, September 16, 2024

The following words and terms, when used in the chapter, shall have the following meanings unless the context clearly indicates otherwise:

"Affiliate bank" means a bank at least 90 percent of whose issued and outstanding stock is owned by the same corporation.

"Securities" means:

1. Bonds, notes or other obligations of or guaranteed by, this State or any agency, authority or instrumentality of this State; and

2. Bonds, notes or other obligations of any county, municipality, or other governmental unit or subdivision of this State, or any agency, authority, instrumentality of any county, municipality or other governmental unit or subdivision of this State.

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