New Jersey Administrative Code
Title 3 - BANKING
Chapter 7 - SAFE AND SOUND METHODS OF BANKING
Subchapter 5 - STATEMENT OF INTEREST OF DIRECTORS OF BANKS, TRUSTEES OR MANAGERS OF SAVINGS BANKS AND STATE ASSOCIATIONS AND EXECUTIVE OFFICERS OF BANKS, SAVINGS BANKS AND STATE ASSOCIATIONS
Section 3:7-5.2 - Filing a statement of interest

Universal Citation: NJ Admin Code 3:7-5.2

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

(a) Every director or executive officer of a bank shall, on forms furnished by the Commissioner, complete and file a statement of interest with the designated bank within 30 days after the effective date of this regulation or within 30 days after becoming a director or executive officer of the designated bank. The statement of interest shall include the following information:

1. Name of the designated bank;

2. Name of the reporting person;

3. Title or position of the reporting person with the designated bank;

4. Name and address of the business enterprise in which the reporting person has an interest.

(b) If a business enterprise reported in accordance with (a) above has a business relationship with the designated bank or State association, then the statement of interest shall also include:

1. The position or positions held by the reporting person, his or her spouse or minor children with the business enterprise;

2. The interest in the business enterprise held by the reporting person, his or her spouse or minor children. The approximate percentage or ownership held by the reporting person, his or her spouse or minor children, and the nature of any other forms of interest or influence exercised by each;

3. A summary of the business relationship between the designated bank and the business enterprise.

(c) The reporting person shall update his or her present statement of interest or file a new statement of interest within 30 days after the occurrence of any material change.

(d) If a reporting person has no interest in a business enterprise, he or she shall complete and file a statement of interest to that effect.

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