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IN RE PEOPLES BANK OF MONTVALE

111 N.J. Super. 141 (1970)

268 A.2d 13

IN THE MATTER OF THE APPLICATION OF PEOPLES BANK OF MONTVALE FOR A CHARTER FOR A BANK TO BE LOCATED AT 80 CHESTNUT RIDGE ROAD, IN THE BOROUGH OF MONTVALE, COUNTY OF BERGEN AND STATE OF NEW JERSEY. COUNTY TRUST COMPANY, OBJECTOR-APPELLANT, v. HORACE J. BRYANT, JR., COMMISSIONER OF BANKING AND INSURANCE OF THE STATE OF NEW JERSEY AND PEOPLES BANK OF MONTVALE, RESPONDENTS.

Superior Court of New Jersey, Appellate Division.

Decided July 14, 1970.

Attorney(s) appearing for the Case

Mr. Edwin C. Landis, Jr. argued the cause for appellant (Messrs. Meyner and Wiley, attorneys; Mr. John R. Kelly, of counsel; Mr. Thomas D. Hogan, on the brief).

Mr. Peter G. Banta argued the cause for respondent (Messrs. Winne & Banta, attorneys).

Mr. Arthur J. Sills, Attorney General, filed a statement in lieu of brief on behalf of the Commissioner of Banking and Insurance (Mr. Joel L. Shain, Deputy Attorney General, of counsel and on the brief).

Before Judges GOLDMANN, LEWIS and MATTHEWS.

The opinion of the court was delivered by GOLDMANN, P.J.A.D.

County Trust Company, objector, appeals from a determination of the Commissioner of Banking and Insurance granting a charter to the Peoples Bank of Montvale. This case is another in a series of protracted controversies involving the Branch Banking Act of 1968 (L. 1968, c. 415), approved January 17, 1969 and effective six months thereafter, July 17, 1969.

An important aspect of the act...

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