New Jersey § 17:9a-434

§ 17:9a-434.

a. The department shall have the right to examine each office which the commissioner

licenses under sections 37 through 86 of P.L.1996, c. 17 ( C. 17:9A-418 through C. 17:9A-467 ). The department shall insure that each office which is licensed hereunder is examined

by either the Federal Reserve or the department as often as the commissioner deems

it advisable. The costs of any examination by the department shall be assessed to the bank or

commercial lending company which is the holder of the license. The examination fees shall be assessed in the same manner and on the same basis

as examination fees are assessed for banks or trust companies organized under the

Banking Act. b. The commissioner may contract with the Federal Reserve or the bank examination

officials in any other state of the United States or in any other foreign country

to conduct cooperative examinations. Every report and copy of a report of examination of a foreign bank or office of

a foreign bank made by or under the supervision of the commissioner, and every report

and copy thereof made by a bank pursuant to the requirement of the commissioner, shall

be confidential, and shall not be made public by any officer, director or employee

of a foreign bank, and shall not be subject to subpoena or to admission into evidence

in any action or proceeding in any court, except pursuant to an order of the court

made upon notice to the commissioner and after affording the commissioner an opportunity

to advise the court of reasons for excluding from evidence that report or any portion

thereof. The court shall order the issuance of a subpoena for the production or admission

into evidence of any report or portion thereof, only if it is satisfied that (1) it

is material and relevant to the issues in the proceedings, and (2) the ends of justice

and public advantage will be subserved thereby. This section shall not prohibit the commissioner from sharing a report of examination

with another state or federal regulator or a bank regulator from a foreign country,

or other person, so long as provision is made for retaining the confidentiality of

the report. This section shall not apply to any action or proceeding instituted by the commissioner

or Attorney General pursuant to any law of this State.