{"data":{"id":"us-nj/n.j.-stat.-17-9a-444","jurisdiction":"us-nj","citation":"N.J. Stat. § 17:9A-444","heading":"Approval for relocation of agency, branch office of foreign bank","body":"63.  a.  No foreign bank which is licensed to establish an agency or branch office shall relocate that office unless the commissioner shall have first approved the relocation and issued a license authorizing the bank to establish the office at the new site.\nb.  If the commissioner finds the following with respect to an application by a foreign bank to relocate any agency or branch office, the commissioner shall approve the application:\n(1)\tIf the new site of the office is in the same vicinity as the old site:\n(a)\tThat it will not be unsafe or unsound for the bank to relocate the office; and\n(b)\tThat the relocation of the office will not be substantially detrimental to the public convenience and advantage, or that the relocation is necessary in the interests of the safety and soundness of the bank; or\n(2)\tIf the new site of the office is not in the same vicinity as the old site:\n(a)\tThat the bank's plan to relocate the office and to establish the office at the new site affords reasonable promise of successful operation;\n(b)\tThat the relocation of the office from the old site will not be substantially detrimental to the public convenience and advantage in the area which is primarily served by the office at the old site, or that the relocation is necessary in the interests of the safety and soundness of the bank; and\n(c)\tThat the relocation of the office to the new site will promote the public convenience and advantage.\nIf the commissioner finds otherwise, the commissioner shall deny the application.\nc.\tWhenever an application by a foreign bank to relocate an agency or branch office has been approved and all conditions precedent to the issuance of a license authorizing the bank to establish the office at the new site have been fulfilled, the commissioner shall issue the license.\nd.\tPromptly after a foreign bank which is licensed to establish an agency or branch office relocates the office, the bank shall surrender to the commissioner the license which authorized it to establish the office at the old site.\nL.1996,c.17,s.63.","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":"09e80a7689a46b2d0b924159e4291651a6df9802b179afa4eb5cad85f95933c5","source_id":"us-nj","stale":true,"prev":"us-nj/n.j.-stat.-17-9a-443","next":"us-nj/n.j.-stat.-17-9a-445"},"notice":"GroundRules: Original legal text. Not legal advice."}