17:9A-180.3a - Transfer of securities to other classes becoming eligible for investment; determination of limitations - New Jersey Statutes

17:9A-180.3a.  Transfer of securities to other classes becoming eligible for  investment;  determination of limitations    Whenever a savings bank shall have made an investment pursuant to the act to  which this is a supplement and any such security shall thereafter become eligible for investment under other statutes permitting investment by savings banks, said savings bank may transfer any such securities on its books to the class of investment under which such securities shall have become eligible for investment, and said securities shall not thereafter be included in the total of investments under the act to which this is a supplement by said savings bank  in determining the limitations set forth in sections 2 and 3 of the act to  which this is a supplement.

     L.1958, c. 152, p. 667, s. 2.