§ 17-9a-27-3

17:9A-27.3. Definitions As used in this act, unless the context otherwise requires, (a) 'commissioner' means the Commissioner of Banking and Insurance of New Jersey; (b) 'bank' includes banks and savings banks; (c) 'board of directors' includes the board of directors of a bank, and the board of managers, or the board of trustees, of a savings bank, but excludes the executive committee of a bank or savings bank: (d) 'predecessor bank' includes (1) a predecessor bank and a predecessor savings bank as defined in section 16 of the act to which this act is a supplement; and (2) a bank, savings bank and national bank which has been or shall be merged into or consolidated with a bank or savings bank, as the case may be; and (3) a bank, savings bank and national bank all or a part of whose business has been or shall be taken over by a bank or savings bank, as the case may be; (e) 'successor bank' includes (1) a successor bank and a successor savings bank as defined in section 16 of the act of which this act is a supplement; and (2) a bank and a savings bank into which or with which a bank or banks, savings bank or savings banks, and national bank or national banks have merged or

he act of which this act is a supplement; and (2) a bank and a savings bank into which or with which a bank or banks, savings bank or savings banks, and national bank or national banks have merged or consolidated, or shall merge or consolidate; and (3) a bank and a savings bank which has taken over or shall take over all or a part of the business of a bank or banks, savings bank or savings banks, or national bank or national banks; (f) 'plan' and 'retirement plan' mean a plan which provides for the retirement of officers and employees of a bank or a savings bank, and for the payment to them for life, or for a stated time, of retirement benefits; (g) 'fund' and 'retirement fund' mean, (1) a fund accumulated or set aside pursuant to paragraphs (a) or (b) of section 8 of this act; and (2) a fund to which contributions are made pursuant to paragraphs (d) and (e) of section 8 of this act; and (3) group annuity or insurance contracts, or both, purchased pursuant to paragraphs (a), (b), (c) or (e) of section 8 of this act; (h) 'employee' means persons employed by a bank, and includes officers of a bank; (i) 'subsidiary' means a corporation at least two-thirds of whose outstanding capital

r (e) of section 8 of this act; (h) 'employee' means persons employed by a bank, and includes officers of a bank; (i) 'subsidiary' means a corporation at least two-thirds of whose outstanding capital stock or securities having voting rights are owned by a bank, and also means an association, trust or other entity in which a bank owns at least a two-thirds interest. L.1953, c. 124, p. 1311, s. 3.