17:9A-325 - Additional statements by and examinations of foreign banks - New Jersey Statutes

17:9A-325.  Additional statements by and examinations of foreign banks    A.  So long as a foreign bank shall be obligated in any manner with respect  to any estate or trust administered under the laws of this State, the commissioner may, whenever and as often as he shall deem it advisable,

    (1) require the filing by the foreign bank of additional statements of financial condition and other information as to its compliance with the provisions of this article;  and

    (2) examine into the affairs of the foreign bank to determine its financial  condition and its compliance with the provisions of this article, such  examination to be made by the commissioner, his deputy, or any other persons so  authorized by the commissioner.

    B.  The officers and employees of every foreign bank being examined shall exhibit to the examiners all its securities, books, records and accounts which are pertinent to the examination, and shall otherwise facilitate the examination.

    C.  The commissioner, his deputy, and all other persons authorized by the commissioner to examine into the affairs of a foreign bank shall have the power  to examine under oath or affirmation the directors, officers and employees of  the foreign bank on matters pertinent to such examination, and, for that  purpose, shall have power to administer oaths and affirmations.

     L.1948, c. 67, p. 407, s. 325.