N.J. Admin. Code § 3:36-2.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 3:36-2.1 - Application by a municipality in conjunction with a bank to establish a district

(a) An application by a municipality in conjunction with a bank to establish a banking development district shall contain the following items in order to be considered a complete application by the Department:

1. A completed current application form, including the name of the municipality, the county in which it is located, and the location of the proposed bank branch by street address and tax lot and block number;

2. A certified copy of the municipal resolution authorizing the application to the Department;

3. A certification from a duly authorized official of the municipality confirming that a copy of the application has been provided to the New Jersey Department of Community Affairs, Division of Local Government Services, and that any depository agreement reached with the co-applicant or with any other bank that will operate in the proposed district will not be reasonably expected to create a structural deficit in the municipality's budget over the term of the agreement;

4. The name of the bank and its primary regulator;

5. A map indicating the borders of the proposed district containing street names or other boundaries, if applicable;

6. The rationale for the proposed district in accordance with the criteria set forth in 3:36-3.1(b) and the applicants' plan for community outreach; and

7. Any other documentation required of a specific applicant by the Commissioner or which the applicant wishes the Department to consider.

N.J. Admin. Code § 3:36-2.1