New Jersey § 17:9a-420
Full text of New Jersey New Jersey Statutes § 17:9a-420, with citation guidance and answers to common questions.
§ 17:9a-420.
a. For purposes of sections 37 through 86 of P.L.1996, c. 17 ( C. 17:9A-418 through C. 17:9A-467 ), offices of foreign banks are divided into classes and ranked in ascending order,
as follows: (1) Representative office. (2) Commercial lending company. (3) Agency. (4) Branch. b. For purposes of sections 37 through 86 of P.L.1996, c. 17 ( C. 17:9A-418 through C. 17:9A-467 ): (1) Changing a lower class office into a higher class office shall be treated as establishing
the higher class office, but not as closing the lower class office. (2) Changing a higher class office into a lower class office shall be treated as closing
the higher class office, but not as establishing the lower class office. c. In the case of changing a higher class office into a lower class office, when the
application for approval to close the higher class office has been approved and all
conditions precedent to the closing have been fulfilled, the foreign bank may change
the higher class office into the lower class office, and the commissioner shall issue
a license authorizing the bank to establish the lower class office.
Frequently Asked Questions About New Jersey § 17:9a-420
What does New Jersey Statutes § 17:9a-420 cover?
Section 17:9a-420 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-420?
A common citation format is "New Jersey Statutes § 17:9a-420" (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-420 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.