17:9A-322 - Certificate of authority to continue in force - New Jersey Statutes

17:9A-322.  Certificate of authority to continue in force
322.  A certificate of authority issued to a foreign bank shall continue in force, unless revoked by the commissioner or surrendered by the foreign bank.  The commissioner may adopt regulations establishing requirements for periodic renewal of a certificate of authority, and for notification to the commissioner if a foreign bank named in a certificate of authority desires to surrender the certificate or merges with or is acquired by another financial institution or company.  Failure to provide any notification required by regulations promulgated by the commissioner shall be grounds for revocation of the certificate.

L.1948,c.67,s.322; amended 1999, c.159, s.9.