N.J.S.A. 17:16E-3

Mutual directors, officers or managers of financial institutions in same, adjacent, or contiguous municipalities; prohibition

17:16E-3. Mutual directors, officers or managers of financial institutions in same, adjacent, or contiguous municipalities; prohibition Except as otherwise provided in section 6 of this act no person who is a director, officer or manager of a financial institution which has a principal or branch office in a particular municipality shall serve as a director, officer or manager of another financial institution which has a principal or branch office in the same municipality or in a contiguous or adjacent municipality. L.1975, c. 265, s. 3, eff. Jan. 1, 1976.

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This is the verbatim text of N.J.S.A. 17:16E-3, 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.

N.J.S.A. 17:16E-3 — Mutual directors, officers or managers of financial institutions in same, adjacent, or contiguous municipalities; prohibition | Kyzer