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IN RE MOUNTAIN RIDGE STATE BANK

244 N.J. Super. 115 (1990)

581 A.2d 898

IN RE MOUNTAIN RIDGE STATE BANK, A BANKING INSTITUTION INCORPORATED PURSUANT TO THE BANKING ACT OF 1948.

Superior Court of New Jersey, Appellate Division.

Decided October 22, 1990.

Attorney(s) appearing for the Case

Joel L. Shain argued the cause for appellant Mountain Ridge State Bank (Shain, Schaffer & Rafanello, attorneys; Joel L. Shain, on the brief).

Mary Ellen Edwards argued the cause for respondent Federal Deposit Insurance Corporation (Cassidy, Foss & San Filippo, attorneys; Roger J. Foss, on the brief).

Sharon L. Young, Deputy Attorney General, argued the cause for respondent Commissioner of Banking (Robert J. Del Tufo, Attorney General of New Jersey, attorney; Sharon L. Young, on the brief).

Before Judges ANTELL, SCALERA and KEEFE.

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

Effective 3:00 p.m., Friday, October 5, 1990, the Commissioner of Banking ordered that the property and business of Mountain Ridge State Bank be conveyed "forthwith" to the Commissioner and that all books, records and other documents pertaining to the business of the bank be surrendered upon the taking of possession. The Commissioner's order was entered pursuant to N.J.S.A. 17:9A-269A(1), (4) and (6...

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