State Codes and Statutes

Statutes > New-jersey > Title-17 > Section-17-12b > 17-12b-67

17:12B-67.  Oath of office of directors and officers
    Each officer and director shall, before entering upon the duties of his office, take and subscribe to the following oath or affirmation of office:

     OATH OR AFFIRMATION OF OFFICE

      State of New Jersey   County of        ss.:

             of full age, being duly sworn on his oath or affirmation according  to law, deposes and says:

    1.  I reside at         ;  am a member or stockholder and/or depositor, as the case may be, of the          association;  hereby accept the office of , to which I have been elected or appointed;  will diligently and  honestly administer the affairs of said association within the scope of my  powers and duties;  and not knowingly violate, or permit to be violated, the  provisions of the Savings and Loan Act (1963), and the association's bylaws.

    Subscribed and sworn to or affirmed before me this         day of ,  19


    All oaths or affirmations of office shall be filed with the secretary. If any officer or director shall fail within a reasonable time after his election to take and subscribe the oath or affirmation required by this section, the board may declare his office vacant.  If any officer or director shall violate the provisions of his oath, or affirmation of the board, after affording him an  opportunity to be heard, may declare his office vacant by a vote of two-thirds  of the directors present at any meeting of the board, of which meeting notice  shall have been given to each director.

     L.1963, c. 144, s. 67.  Amended by L.1964, c. 19, s. 5;  L.1974, c. 137, s. 10,  eff. Oct. 23, 1974.