New Jersey § 17:9a-15
Full text of New Jersey New Jersey Statutes § 17:9a-15, with citation guidance and answers to common questions.
§ 17:9a-15.
The commissioner shall, within 30 days after the filing of the affidavit specified
in section 14, 1 issue the said certificate of authority, or notify the bank or savings bank in writing
of his reasons for refusing it. The issuance of the certificate of authority shall not be withheld by the commissioner,
except when (1) the affidavit specified in section 14 is not in proper form, in which
event an opportunity shall be afforded the bank or savings bank to file a proper affidavit,
or (2) the commissioner determines that the facts set forth in the affidavit are not
true. In addition, the commissioner shall, except as hereinafter provided, withhold the
issuance of the certificate of authority until evidence is presented to him that the
Federal Deposit Insurance Corporation, or any successor corporation having for its
purpose the insurance of deposits, has agreed to accept the bank or savings bank as
a member, effective upon the opening for business of the bank or savings bank; but
the certificate of authority shall not be withheld because of failure of the bank
or savings bank to be accepted for such membership, if the commissioner shall find
that the capital stock and surplus of the bank, or the capital deposits of the savings
bank, are reasonably adequate to safeguard the interests of depositors notwithstanding
the absence of deposit insurance. The commissioner's failure to issue the certificate of authority, and to notify
the bank or savings bank in writing of the reason therefor within the specified 30
day period, shall be subject to review, hearing and relief in the Superior Court,
in a proceeding in lieu of prerogative writ. 1
N.J.S.A. § 17:9A-14.
Frequently Asked Questions About New Jersey § 17:9a-15
What does New Jersey Statutes § 17:9a-15 cover?
Section 17:9a-15 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:9a-15?
A common citation format is "New Jersey Statutes § 17:9a-15" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:9a-15 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.