Bank Holding Companies

Readoption with Amendments: N.J.A.C 3:13

Proposed: February 19, 2002 at 34 N.J.R. 815(a)

Adopted: July 3, 2002 by Holly C. Bakke, Commissioner, Department of Banking and Insurance

Filed: July 3, 2002 as R. 2002 d. 244 with technical changes not requiring additional public notice or comment (see N.J.A.C. 1:30-6.3)

Authority: N.J.S.A. 17:1-8, 1-8.1, 1-15e, 17:9A-8.1 et seq., 17:9A-382 et seq. and 17:12B-292 et seq.

Effective Date: July 3, 2002, Readoption;

August 5, 2002, Amendments

Expiration Date: July 3, 2007


Summary of Public Comments and Agency Response:

The Department of Banking and Insurance ("Department") timely received one comment from the New Jersey League of Community Bankers.

COMMENT: The commenter stated that it saw no problem with the proposed amendments or with the readoption.

RESPONSE: The Department would like to thank the commenter for its support of the proposed amendments and readoption.

COMMENT: The commenter indicated that its name had been changed from the "New Jersey League of Community & Savings Bankers" to the "New Jersey League of Community Bankers" effective January 11, 2002.

RESPONSE: The Department has taken note of the name change and has revised the name upon adoption.


Federal Standards Statement

The adopted amendments and rules remain consistent with and do not exceed the requirements of 12 U.S.C.1841 et seq. and the rules promulgated thereunder, 12 C.F.R. 225.1 et seq. Therefore no Federal Standards analysis is required.

Full text of the readoption can be found in the New Jersey Administrative Code at N.J.A.C. 3:13. Full text of the adopted amendments follows (additions to the proposal indicated in boldface with asterisks *thus*; deletions from proposal indicated in brackets with asterisks *[thus]*).



3:13-1.2 Application

    1. (No change.)

(b) Upon receipt of a completed application, the Department shall send notice to the applicant and to the New Jersey Bankers Association, *the* New Jersey*[s]* *League of* Community *[and Savings]* Bankers *[and the New Jersey Savings League]* *, and/or their successor organizations, if any*, for publication in their weekly bulletins.

(c) (d) (No change.)