Limitation on powers of banks, savings banks.

N.J. Stat. § 17:9A-213.1
in effect
Sign in to generate a plain English summaryAsk Belisarius Agent
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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://www.njleg.state.nj.us/legislative-activity/statutesFetched: 10/17/2026

Starting a business in New Jersey? New Jersey LLC guide: costs and requirements