17:9A-27.26 - Approval by commissioner - New Jersey Statutes

17:9A-27.26.  Approval by commissioner
    Whenever, under the provisions of this act, the approval of the commissioner  is required, written application for such approval shall be made to the  commissioner in such form as he may prescribe.  The commissioner shall, within  60 days after the receipt by him of such application, approve or disapprove it,  and shall notify the applying bank in writing of his determination, stating his  reasons in any case where he disapproves.  The disapproval of the commissioner  of any application made pursuant to this section shall be subject to review in  a proceeding in lieu of prerogative writ.

     L.1953, c. 124, p. 1321, s. 26.  Amended by L.1962, c. 234, s. 9, eff. Feb. 9,  1963.