17:19-8 - Investment in project authorized - New Jersey Statutes

17:19-8.  Investment in project authorized    Any insurance company of this state, in addition to other investments allowed by law, may invest its funds, to an aggregate amount not exceeding five  per cent of its total admitted assets, in the purchase of real estate in any  city of this state for the purpose of constructing thereon apartments, tenements or other dwelling houses, in the manner hereinafter provided.