New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 16N-2

As used in this act:

“Account” means an account in a depository institution with respect to which the account holder is permitted to make withdrawals by negotiable or transferable instrument, payment orders of withdrawal, telephone transfers, or other similar items for the purpose of making payments or transfers to third persons or others, including a demand deposit account, negotiable order of withdrawal account, draft account, savings deposit account subject to automatic transfers, share draft account, and all savings deposit and share accounts other than time deposit accounts.

“Business day” means any day other than a Saturday, Sunday or legal holiday.

“Check” means any check as defined in N.J.S.12A:3-104, share draft, negotiable order of withdrawal, or similar means of making payment or transfers to third parties or others which is drawn on an account in a depository institution and is payable on demand.

“Consumer” means a natural person who resides in this State.

“Commissioner” means the Commissioner of Banking.

“Depository institution” means a State or federally chartered bank, savings bank, savings and loan association or credit union doing business in this State.

“Electronic branch” means automatic teller machines (ATMs) and similar technology which may be used by customers of a depository institution in connection with a customer's account.

“New Jersey Consumer Checking Account” means a deposit account established pursuant to section 3 of this act  1 and with respect to which the account holder is permitted to make payments to third parties or others by check.

“Office” includes the home office of a depository institution and any office approved as a branch of the depository institution by its federal or State supervisory agency, but excludes free-standing electronic branches.

“Periodic account statement” means any written statement provided on a regular basis at the end of each periodic cycle by a depository institution to an account holder that reflects all debits and credits to an account held by the account holder during a periodic cycle.

“Periodic cycle” means a period of time which is equal to or shorter than a calendar quarter and, if shorter than a calendar quarter, divides a calendar quarter into approximately equal units of time.

“Regular checking account” means that type of checking, demand deposit, negotiable order of withdrawal, share draft account, or similar account, other than a New Jersey Consumer Checking Account, offered by the depository institution, which is held by more consumers than any other such account offered by the depository institution.