18A:66-76 - Discretion in purchase of coverage - New Jersey Statutes

18A:66-76.  Discretion in purchase of coverage
    The state treasurer may, in his discretion, determine to purchase group insurance coverage for the noncontributory death benefit provisions as provided  in this article, or may determine not to purchase any group insurance coverage  for the death benefit provisions heretofore mentioned. The board of trustees  of the teachers' pension and annuity fund may, in its discretion, determine to  purchase group insurance coverage for additional death benefit coverage as  provided for in section 18A:66-53 or may also, in its discretion, determine not  to purchase any contributory group insurance coverage for the additional death  benefit provisions provided in section 18A:66-53.
 
L.1967, c.271.