New Jersey § 17:9a-18

§ 17:9a-18.

A. The name of every bank shall contain the word “bank” or “banking” or “trust,” or

a combination of the words “bank” or “banking” and “trust,” except that no bank which

is not qualified to exercise any of the powers specified in section 28 1 shall use the word “trust” as part of its name. Any bank which, immediately prior to the effective date of this act, 2 lawfully used the word “savings” as part of its name , may continue the use thereof, but no other bank shall hereafter use such word as

part of its name. B. The name of every savings bank shall contain the words “savings bank” or “savings

fund society” or “savings institution” or “institution for savings” or “bank for savings ” or “bank .” Any savings bank which, immediately prior to the effective date of this act, lawfully

used the word “trust” as part of its name , may continue the use thereof, but no other savings bank shall hereafter use such

word as part of its name. C. No bank or savings bank shall assume a name identical with that of an existing

banking institution, or so similar thereto that confusion may result therefrom; except

that, if a bank or savings bank is organized to succeed another bank or savings bank

pursuant to section 16, 3 it may adopt the name of the bank or savings bank which it succeeds. D. No person, other than a banking institution or bank holding company, shall use

the words “bank” or “banker” or “banking” or “trust” or “savings” or any of them,

as part of his or its name, or in any representations describing his or its powers,

services or functions, except as otherwise permitted by law , provided, however, that the commissioner may waive the provisions of this subsection

if the commissioner upon application determines that: (1) the applicant has used

the requested name in at least one other state for at least six years and use of that

name has not resulted in a pattern of confusion to consumers in that or any other

state; (2) there is no risk of confusion to consumers in this State; (3) the services

provided by an applicant are not financial services; and (4) the applicant only does

business with other commercial entities and not with consumers. Upon receipt of an application for a waiver of the provisions of this subsection,

the commissioner shall provide notice of that application to the New Jersey Bankers

Association, the New Jersey League of Community Bankers, and any successor trade associations. Upon receipt of the notice from the commissioner, the trade associations or any

member thereof shall have 30 days in which to provide written comments supporting

or opposing the application to the commissioner . A violation of the provisions of this subsection shall be a misdemeanor, and the

Superior Court shall have jurisdiction to enjoin such violation at the suit of the

commissioner. E. The provisions of subsection D of this section shall not apply to any corporation

or association formed for the purpose of promoting the interests of banking institutions,

the membership of which is comprised of banking institutions, their officers or other

representatives; nor shall the said subsection apply to any partnership, association,

or corporation, which, on the effective date of this act, lawfully used the words

“bank,” “banker,” “banking,” “trust,” or “savings,” or any of them, as part of its

name. F. The provisions of subsection D of this section shall not prevent the use of the

word “savings” by a building and loan association or a savings and loan association,

or by a corporation or association formed for the purpose of promoting the interests

of building and loan associations or savings and loan associations, the membership

of which is comprised of building and loan or savings and loan associations, their

officers or other representatives. G. The provisions of subsection D of this section shall not prevent the use of the

word “trust” by a Real Estate Investment Trust as defined in 26 U.S.C. s.856 . 1

N.J.S.A. § 17:9A-28. 2

See N.J.S.A. § 17:9A-343. 3

N.J.S.A. § 17:9A-16.