New Jersey Statutes 17:9A-400. Bylaws of subsidiary
b. If the certificate of incorporation of the subsidiary capital stock savings bank so provides, the directors of the subsidiary capital stock savings bank may have the power to make, alter and repeal bylaws, but any exercise of this power by the board of directors shall be subject to alteration or repeal by the stockholders. The bylaws may contain any provision not inconsistent with law for the regulation of the affairs of the subsidiary capital stock savings bank.
c. If a board of directors is empowered by the bylaws to make, alter, and repeal bylaws it may not, however, exercise this power with respect to bylaws:
(1) Fixing the number of directors of the subsidiary capital stock savings bank or the manner and time of determining this number;
(2) Establishing the requirement for calling a special meeting of the stockholders; or
(3) Setting forth the manner in which the bylaws may be made, altered, or repealed.
L. 1987, c. 201, s. 19.