SENATE STATE MANAGEMENT, INVESTMENT AND FINANCIAL INSTITUTIONS COMMITTEE
STATEMENT TO
ASSEMBLY, No. 582
STATE OF NEW JERSEY
DATED: NOVEMBER 7, 1996
The Senate State Management, Investment and Financial Institutions Committee reports favorably Assembly Bill No. 582.
This bill changes the minimum number required to serve on the board of directors of a State chartered savings and loan association from six to five. This would make this number consistent with the minimum number required for State chartered banks and savings banks.