New Jersey § 17:9a-413
Full text of New Jersey New Jersey Statutes § 17:9a-413, with citation guidance and answers to common questions.
§ 17:9a-413.
a. In deciding whether to approve an application for a proposed acquisition under
sections 28 through 36 of P.L.1996, c. 17 ( C. 17:9A-409 through C. 17:9A-417 ), the commissioner shall consider whether the acquisition may: (1) be detrimental to the safety and soundness of the New Jersey bank or New Jersey
bank holding company to be acquired; (2) result in an undue concentration of resources or a substantial reduction of competition
in this State; or (3) have a significantly adverse impact on the convenience and needs of the community
or communities in this State that are served by the New Jersey bank or New Jersey
bank holding company. b. Except as otherwise provided in this section, the commissioner shall not approve
an acquisition under sections 28 through 36 of P.L.1996, c. 17 ( C. 17:9A-409 through C. 17:9A-417 ) if upon consummation of the transaction, the applicant, including any depository
institution affiliated with the applicant, would control 30 percent or more of the
total amount of deposits held by depository institutions in this State. c. The commissioner may by regulation adopt a procedure whereby the limitation on
control of deposits set forth in subsection b. of this section may be waived for good
cause shown.
Frequently Asked Questions About New Jersey § 17:9a-413
What does New Jersey Statutes § 17:9a-413 cover?
Section 17:9a-413 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-413?
A common citation format is "New Jersey Statutes § 17:9a-413" (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-413 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.