17:9A-23.5 - Property which may be used for auxiliary office; limitation on cost; parking facilities - New Jersey Statutes

17:9A-23.5.  Property which may be used for auxiliary office; limitation on  cost;  parking facilities
    A bank or savings bank may, for the purposes of establishing an auxiliary office or offices, purchase or lease real property, or it may use real property  heretofore purchased or leased by it;  provided, that the cost of establishing  an auxiliary office, including construction and alteration costs, and including  the purchase price or the rental of the real property, shall not exceed such  sum as the Commissioner of Banking and Insurance shall approve, taking into  consideration the capital and surplus of the bank, and the surplus of the  savings bank.  As an incident to the conduct of its business at an auxiliary  office, a bank or savings bank may provide motor vehicle parking facilities for  its customers.

     L.1952, c. 179, p. 603, s. 5.