New Jersey Statutes 17:16Q-1. Definitions
Terms Used In New Jersey Statutes 17:16Q-1
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- Federal Reserve System: The central bank of the United States. The Fed, as it is commonly called, regulates the U.S. monetary and financial system. The Federal Reserve System is composed of a central governmental agency in Washington, D.C. (the Board of Governors) and twelve regional Federal Reserve Banks in major cities throughout the United States. Source: OCC
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
“Appropriate federal financial supervisory agency” means:
a. The Comptroller of the Currency with respect to federally chartered banks;
b. The Board of Governors of the Federal Reserve System with respect to bank holding companies and State chartered banks which are members of the Federal Reserve System;
c. The Federal Deposit Insurance Corporation with respect to State chartered banks and savings banks which are not members of the Federal Reserve System; and
d. The Director of the Office of Thrift Supervision with respect to associations whose deposits are insured by the Federal Deposit Insurance Corporation, and association holding companies.
“Board” means the Community Financial Services Advisory Board established pursuant to section 3 of this act.
“Commissioner” means the Commissioner of Banking.
“CRA” means the “Community Reinvestment Act of 1977,” Pub.L. 95-128 (12 U.S.C. § 2901 et seq.).
“Depository institution” means a State or federally chartered bank, savings bank or savings and loan association located in this State.
L.1991,c.294,s.1.