New Jersey § 17:9a-311

§ 17:9a-311.

A. In addition to the powers elsewhere in this act conferred upon it, the banking

advisory board shall have power, by two-thirds vote of its members, (1) to make recommendations to the commissioner upon any matter relating to the duties

of the commissioner which he may submit to it; (2) to make recommendations to the Governor concerning legislation affecting institutions

which are subject to the provisions of this act. B. In addition to the power specified in subsection A of this section, the banking

advisory board shall have power, by two-thirds vote of its members, upon the request

of and subject to the approval of the commissioner, (1) to make, amend, and repeal regulations not in conflict with the powers conferred

by law upon the commissioner, for the following purposes: (a) to establish safe and sound methods of banking to safeguard the interests of depositors

and other creditors; (b) to define “conducting business in an unsafe manner” as applied to banks and savings

banks; (c) to define “unsafe or unsound condition to transact business” as applied to banks

and savings banks; (2) to consider the decision of the commissioner on any application for the establishment

of a branch office of any bank or savings bank, or any amendment to the certificate

of incorporation of any bank or savings bank, or the merger of any two or more banks

or savings banks, and make recommendations to the commissioner thereon.