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Section 17:1-27 - Prohibited actions.

NJ Rev Stat § 17:1-27 (2019) (N/A)
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17:1-27 Prohibited actions.

3. No bank, savings bank, State association, or any officer, director, employee, or major shareholder thereof, shall:

a. Fail to comply with an order or other written instruction of the commissioner or any other financial regulatory agency;

b. Violate a State or federal law;

c. Take any action, or fail to take an action, with the result that a material interest of the covered institution is adversely affected;

d. Be convicted of a crime that would permit adverse action by a governmental agency pursuant to P.L.1968, c.282 (C. 2A:168A-1 et seq.);

e. Provide incorrect, misleading, incomplete or untrue material information about the covered institution to the commissioner or any federal financial regulatory agency;

f. Withhold material information from the commissioner or any federal financial regulatory authority about the covered institution; or

g. Take an action, or fail to take an action, the result of which poses a substantial risk to the safety and soundness of the covered institution or may cause substantial damage to its reputation.

L.2005,c.195,s.3.

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Section 17:1-26 - Definitions relative to enforcement powers of Department of Banking and Insurance.
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Section 17:1-28 - Enforcement of, penalties for violations under C.17:1-27.