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.