{"data":{"id":"us-nj/n.j.-stat.-17-16e-6","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:16E-6","heading":"Bank holding companies and financial institutions with common ownership;  inapplicability of act","body":"Nothing in this act shall prevent a person who is a director or officer of a  bank holding company from being a director or officer of any one or more banks  which are subsidiaries of such company, nor shall anything in this act prevent  a person who is a director or officer of a bank which is a subsidiary of a bank  holding company from being a director or officer of any one or more other banks  which are subsidiaries of such holding company. When there are two or more  financial institutions in which more than 50% of the stock is owned directly by  the same persons, a person who is a director or officer of any one of such  financial institutions may be a director or officer of any one or more of such  other institutions.\nL.1975, c. 265, s. 6, eff. Jan. 1, 1976.","path":["TITLE 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE \t\t\tAND INSURANCE"],"source_url":"https://pub.njleg.state.nj.us/statutes/STATUTES-TEXT.zip","current_through":"P.L.2025, c.405, and J.R.22","vintage":"","retrieved_at":"2026-08-27T17:54:13Z","sha256":"bae7df0db9a1e2f774cff1ec950cf8679e534dc01b31ead58c39156f6c7e5bba","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-16e-5","next":"us-nj/n.j.-stat.-17-16f-1"},"notice":"GroundRules: Original legal text. Not legal advice."}