N.J. Admin. Code § 3:1-9.9

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

Section 3:1-9.9 - Orders; grounds; content; hearing; service

(a) If the Commissioner determines that a depository institution is in violation of the Act or 3:1-9.7 he shall:

1. Order such depository institution to cease its unlawful practices as provided by 17:16F-9; or

2. Order such depository institution other than a national bank to show cause why a cease and desist order should not be issued.

(b) The order to show cause shall be returnable in not less than 20 days from the date of service hereof. The order to show cause shall contain:

1. A statement of the time and place of hearing;

2. A reference to the particular section of the statute or rule charged to have been violated;

3. A short and plain statement of the facts giving rise to the alleged statutory or rule violation.

(c) Service of the order to show cause shall be made by certified mail, return receipt requested.

(d) If upon the return of the order to show cause the Commissioner determines that a depository institution is in violation of the Act, he shall order such depository institution to cease and desist such practices.

(e) Service of the cease and desist order shall be made by certified mail, return receipt requested.

N.J. Admin. Code § 3:1-9.9

As amended, R.1979 d.415, eff. 10/18/1979.
See: 11 New Jersey Register 426(b), 11 New Jersey Register 534(b).
As amended, R.1983 d.85, eff. 3/21/1983.
See: 15 New Jersey Register 4(a), 15 New Jersey Register 439(b).
Section recodified with changes from N.J.A.C. 3:1-9.11.