9-702.Banking defined.
Any individual, firm or corporation, except a national bank or student
bank, who shall
receive money on deposit, whether on certificates or subject to check, or
any individual, firm or corporation, except railroad, transoceanic
steamship, air transport, telegraph or Morris plan companies, building
and savings and loan associations, national banks, student
banks or express companies engaged in an international financial and
travel business or
credit unions,
which shall receive money for which it issues its check, draft, bill of
exchange, or other evidence of indebtedness for which it charges a fee,
shall be considered as doing a banking business, and shall be amenable to
all the provisions of this act.
Promissory notes issued
for money received on deposit shall be considered
certificates of deposit for the purposes of this act.
History: L. 1947, ch. 102, § 2; L. 1972, ch. 57, § 5;
L. 1995, ch. 31, § 2; Mar. 30.
9-702.Banking defined.
Any individual, firm or corporation, except a national bank or student
bank, who shall
receive money on deposit, whether on certificates or subject to check, or
any individual, firm or corporation, except railroad, transoceanic
steamship, air transport, telegraph or Morris plan companies, building
and savings and loan associations, national banks, student
banks or express companies engaged in an international financial and
travel business or
credit unions,
which shall receive money for which it issues its check, draft, bill of
exchange, or other evidence of indebtedness for which it charges a fee,
shall be considered as doing a banking business, and shall be amenable to
all the provisions of this act.
Promissory notes issued
for money received on deposit shall be considered
certificates of deposit for the purposes of this act.
History: L. 1947, ch. 102, § 2; L. 1972, ch. 57, § 5;
L. 1995, ch. 31, § 2; Mar. 30.
9-702.Banking defined.
Any individual, firm or corporation, except a national bank or student
bank, who shall
receive money on deposit, whether on certificates or subject to check, or
any individual, firm or corporation, except railroad, transoceanic
steamship, air transport, telegraph or Morris plan companies, building
and savings and loan associations, national banks, student
banks or express companies engaged in an international financial and
travel business or
credit unions,
which shall receive money for which it issues its check, draft, bill of
exchange, or other evidence of indebtedness for which it charges a fee,
shall be considered as doing a banking business, and shall be amenable to
all the provisions of this act.
Promissory notes issued
for money received on deposit shall be considered
certificates of deposit for the purposes of this act.
History: L. 1947, ch. 102, § 2; L. 1972, ch. 57, § 5;
L. 1995, ch. 31, § 2; Mar. 30.