New_jersey Statute | Act | Code |Title 17 Corporations And Institutions For Finance And Insurance| US Code - US Statute

17:9A-409. Definitions relative to acquisitions 28. As used in sections 28 through 36 of P.L.1996, c.17 (C.17:9A-409 through C.17:9A-417): ~Acquire~ means: (1) That a company merges or consolidates with a bank holding company; (2) That a company assumes direct or indirect ownership or control of: (a) more than 25 percent of any class of voting shares of a bank holding company or a bank, if the acquiring company was not a bank holding company prior to that acquisition; (b) more than 5 percent of any class of voting shares of a bank holding company or a bank, if the acquiring company was a bank holding company prior to that acquisition; (c) all or substantially all of the assets of a bank holding company or a bank; or (3) That a company takes any other action that results in the direct or indirect acquisition or control by that company of a bank holding company or a bank. ~Affiliate,~ ~bank,~ ~company,~ and ~subsidiary~ have the meanings set forth in section 2 of the federal ~Bank Holding Company Act of 1956,~ 12 U.S.C. 1841. ~Bank holding company~ has the meaning set forth in subsection (a) of section 2 of the federal ~Bank Holding Company Act of 1956,~ 12 U.S.C. 1841(a) and, unless the context requires otherwise, includes a New Jersey bank holding company, an out-of-State bank holding company and a foreign bank holding company. ~Bank supervisory agency~ means any of the following: (1) The Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and any successor to these agencies; and (2) Any agency of another state with primary responsibility for chartering and supervising banks. ~Branch~ has the meaning set forth in section 1 of P.L.1948, c.67 (C.17:9A-1). ~Control~ shall be construed consistently with the provisions of paragraph (2) of subsection (a) of section 2 of the ~Bank Holding Company Act of 1956,~ 12 U.S.C. 1841(a)(2). ~Commissioner~ means the Commissioner of Banking. ~Deposit~ has the meaning set forth in the ~Federal Deposit Insurance Act,~ 12 U.S.C. 1813. ~Depository institution~ means any institution included for any purpose within the definitions of ~insured depository institution~ as set forth in the ~Federal Deposit Insurance Act,~ 12 U.S.C. 1813(c)(2) and (3). ~Foreign bank holding company~ means a bank holding company that is organized under the laws of a country other than the United States, including any territory or possession thereof. ~New Jersey bank~ means a bank that is: (1) organized under P.L.1948, c.67 (C.17:9A-1 et seq.); or (2) organized under federal law and having its principal place of business in this State. ~New Jersey bank holding company~ means a bank holding company that: (1) has its principal place of business in this State; and (2) is not controlled by a bank holding company other than a New Jersey bank holding company. ~Out-of-State bank holding company~ means: (1) a bank holding company that is not a New Jersey bank holding company; and (2) unless the context requires otherwise, includes a foreign bank holding company. ~Person~ has the meaning given it pursuant to R.S.1:1-2. ~Principal place of business~ of a bank holding company means the state in which the total deposits of its bank subsidiaries are the greatest. ~State~ means any state, territory, or other possession of the United States, including the District of Columbia. L.1996,c.17,s.28.

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