New Jersey Statutes 17:9A-213.1. Limitation on powers of banks, savings banks
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Terms Used In New Jersey Statutes 17:9A-213.1
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
213.1. Except as in this act or otherwise by law provided, and except for letters of credit issued pursuant to N.J.S. 12A:5-101 et seq., no bank or savings bank shall have power to guarantee the obligations of others; or to insure or indemnify against the acts, omissions, undertakings, liabilities or losses of others.
L.1948,c.67,s.213.1; amended 1997, c.395, s.11.