18A:16-8 - Salary deductions for government bonds - New Jersey Statutes

18A:16-8.  Salary deductions for government bonds
    Salary deductions for government bonds.  Whenever one or more of the persons  employed by a board of education shall agree, in writing, to participate in any  plan for the purchase of bonds of the United States government the board may,  by a recorded roll call majority vote of its full membership direct the  secretary of the board to deduct from the salaries of such employees as shall  participate in such plan under such rules as may be established by the board  specified amounts for the purchase of bonds and pay the total amount of such  deductions directly or indirectly to the Federal Government for such bonds, and  the making of any such deductions shall be construed as voluntary payments by  the employee.

L.1967, c.271; amended by L.1979, c. 391, s. 12, eff. Feb. 6, 1980.