New Jersey § 17:12b-46

§ 17:12b-46.

A. The following words as used in this act, unless a different meaning is plainly

required by the context, shall have the following meaning: (1) “ Commissioner ” means the Commissioner of Banking or any other person lawfully exercising the powers of such commissioner; (2) “ Association ” means any State savings and loan association operating pursuant to the “Savings

and Loan Act (1963)” P.L.1963, c. 144 ( C.17:12B-1 et seq. ) and any out-of-State association with a branch office in this State ; (3) “ Officers ” means the person or persons designated by the board of directors of an association

to act for the association in carrying out the provisions of this act; (4) “ Emergency ” means any condition which makes the transaction of business, at one or more or all

of the offices of an association or associations, contrary to the welfare and security

of such office or offices or contrary to the health, safety or security of persons

working in or making use of such office or offices. Without limiting the generality of the foregoing, an emergency may arise when any

condition poses an imminent or existing threat to the welfare, safety or security

of persons or property or both, such as any one or more of the following: forces

of the natural elements, fire, explosions, epidemics, power failures, labor disputes,

transportation failures, war, riots, civil commotions, and other acts of lawlessness

or violence; (5) “ Office ” means any place at which an association transacts business or conducts operations

related to the transaction of business; (6) “ Person ” includes natural persons, corporations, partnerships and associations. B. This act shall apply to federal savings and loan associations having their principal

offices or a branch office in this State to the extent that the provisions of this act are not inconsistent

with and do not infringe upon federal laws, rules or regulations.