N.J.S.A. 17:12B-29 — Auxiliary offices

17:12B-29. Auxiliary offices A State association may, pursuant to resolution of its board, establish and operate not more than one auxiliary office, as defined in section 8 of this act, as an adjunct to its principal office, and not more than one auxiliary office as an adjunct to each branch office now operated by it, or hereafter established and operated by it. L.1963, c. 144, s. 29. 17:12B-30. Auxiliary office, establishment, location 30. No auxiliary office shall be established or operated at a location which is outside this State or more than one mile from the office of the State association to which such auxiliary office is an adjunct; nor shall any such auxiliary office be established within 1,000 feet of the principal office or a branch office of another association, without the written consent of such association. Such consent, once given, shall thereafter be irrevocable, regardless whether it was given gratuitously or for a valuable consideration. No State association shall be required to discontinue an auxiliary office for the reason that, after its establishment pursuant to this act, another association has established its principal office or a branch office within 1,000 feet of such auxiliary office. L.1963,c.144,s.30; amended 1996, c.17, s.90. 17:12B-31. Auxiliary office, permitted business transactions 31. No business shall be transacted at an auxiliary office other than (a) the receipt of payments, deposits of currency, checks and other items; (b) the payment of withdrawals; (c) the cashing of checks, drafts and other items; and (d) the issuance of money orders or travelers' checks. L.1963,c.144,s.31; amended 1996, c.17, s.91.

This is the verbatim text of N.J.S.A. 17:12B-29, 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.