New Jersey Statutes 17:9A-184. Deposits; maximum and minimum amounts
Terms Used In New Jersey Statutes 17:9A-184
- 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.
- person: includes corporations, companies, associations, societies, firms, partnerships and joint stock companies as well as individuals, unless restricted by the context to an individual as distinguished from a corporate entity or specifically restricted to one or some of the above enumerated synonyms and, when used to designate the owner of property which may be the subject of an offense, includes this State, the United States, any other State of the United States as defined infra and any foreign country or government lawfully owning or possessing property within this State. See New Jersey Statutes 1:1-2
- 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
B. A savings bank may (1) subject to paragraph C. of this section, limit to any sum it deems expedient, the aggregate amount which any one depositor may deposit, and (2) fix the minimum amount of any deposit which it will receive at not over $10.00, and (3) refuse to receive a deposit, and (4) return all or any part of any deposit at any time.
C. A savings bank may receive any deposit to the credit of a depositor, if the aggregate of the balances of all accounts of such depositor does not exceed, or as a result of receiving such deposit would not exceed $150,000.00, and a savings bank may receive additional deposits from such depositor if made:
(a) Pursuant to the order or direction of any court of record or officer of any such court,
(b) To the credit of any governmental, State, county, municipal or other public authority, body, board, officer or agent,
(c) To the credit of any religious, charitable, cemetery, educational, benevolent or other corporation, association, organization or society established or existing for any lawful purpose other than for pecuniary profit, or
(d) To the credit of any unincorporated or incorporated labor union, welfare, strike, benefit or insurance fund, any foundation created by will or otherwise, or any profit sharing, welfare or pension fund or employee thrift fund created jointly or individually by any person, firm or corporation,
(e) Pursuant to regulations from time to time promulgated by the commissioner.
L.1948, c. 67, p. 327, s. 184. Amended by L.1950, c. 214, p. 537, s. 1; L.1963, c. 146, s. 1; L.1966, c. 278, s. 1, eff. Sept. 6, 1966; L.1968, c. 86, s. 1, eff. June 21, 1968; L.1973, c. 73, s. 1, eff. April 11, 1973.