§412:7-101  Necessity for savings and loanassociation charter.  Except as expressly permitted by federal law or thischapter, no person shall engage in any activity for which a charter to operateas a savings and loan association is required by this chapter, includingwithout limitation the solicitation, acceptance, and holding of deposits inthis State, the use of the term "savings and loan association", orthe exercise of such other powers or privileges restricted to savings and loanassociations under applicable law, unless it is a corporation incorporated inthis State and has such a charter. [L 1993, c 350, pt of §1; am L 2002, c 40,§31]