New Jersey Administrative Code
Title 3 - BANKING
Chapter 6 - GENERAL PROVISIONS
Subchapter 3 - LIMIT ON LOANS TO AN EXECUTIVE OFFICER
Section 3:6-3.1 - Limitation on loans to an executive officer
Universal Citation: NJ Admin Code 3:6-3.1
Current through Register Vol. 56, No. 18, September 16, 2024
The $ 10,000 maximum loan limitation prescribed in N.J.S.A. 17:9A-72B(2) on loans to an executive officer is increased to an aggregate amount not to exceed at any one time 2.5 percent of the capital funds of the bank, as defined in 17:9A-60, or $ 25,000 whichever is greater, but in no event more than $ 100,000.
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