New Jersey § 17:9a-19

§ 17:9a-19.

a. An insured depository institution located in this State may accept deposits and conduct other banking business as agent for any affiliate , without being required to obtain a license as a branch office of the affiliate or foreign bank ; and may provide customer information to any affiliate solely for use in conducting business with the customer. For purposes of this section, “ control ” shall be construed consistently with the provisions of paragraph (2) of subsection

(a) of section 2 of the “Bank Holding Company Act of 1956,” 12 U.S.C. § 1841(a)(2) ; “ insured depository institution ” shall have the same meaning as set forth in the “Federal Deposit Insurance Act,” 12 U.S.C. § 1813 ; “ foreign bank, ” “ agency, ” and “ branch ” shall have the same meaning as set forth in the “International Banking Act of 1978,” 12 U.S.C. § 3101 et seq. ; and “ affiliate ” means a company which controls, is controlled by or under common control with another

company, and includes a United States branch or agency of a foreign bank . b. The commissioner shall have the authority to request from any insured depository

institution information with respect to its activities as an agent, including a request

for a copy of any agreement of an insured depository institution to act as an agent

for an affiliate.