N.J.S.A. 17:1-27 — Prohibited actions.

17:1-27 Prohibited actions. 3. No bank, savings bank, State association, or any officer, director, employee, or major shareholder thereof, shall: a. Fail to comply with an order or other written instruction of the commissioner or any other financial regulatory agency; b. Violate a State or federal law; c. Take any action, or fail to take an action, with the result that a material interest of the covered institution is adversely affected; d. Be convicted of a crime that would permit adverse action by a governmental agency pursuant to P.L.1968, c.282 (C. 2A:168A-1 et seq.); e. Provide incorrect, misleading, incomplete or untrue material information about the covered institution to the commissioner or any federal financial regulatory agency; f. Withhold material information from the commissioner or any federal financial regulatory authority about the covered institution; or g. Take an action, or fail to take an action, the result of which poses a substantial risk to the safety and soundness of the covered institution or may cause substantial damage to its reputation. L.2005,c.195,s.3.

This is the verbatim text of N.J.S.A. 17:1-27, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.