32:2-36 - Bonds as legal investment - New Jersey Statutes

32:2-36.  Bonds as legal investment
    The bonds which may be issued by the Port Authority to provide funds to make  all or any portion of the payment or payments required by an agreement or  agreements authorized by section 2 hereof and for purposes incidental thereto  are hereby made securities in which all State and municipal officers and bodies  of New Jersey and New York, all banks, bankers, trust companies, savings banks,  building and loan associations, saving and loan associations, investment  companies and other persons carrying on a banking business, all insurance  companies, insurance associations and other persons carrying on an insurance  business, and all administrators, executors, guardians, trustees and other  fiduciaries and all other persons whatsoever are now or may hereafter be  authorized by either the State of New Jersey or the State of New York to invest  in bonds or other obligations of such State, may properly and legally invest  any funds including capital belonging to them or within their control;  and  said bonds are hereby made securities which may properly and legally be  deposited with and shall be received by any State or municipal officer or  agency of either the State of New Jersey or the State of New York for any  purpose for which the deposit of bonds or other obligations of such State is  now or may hereafter be authorized.

     L.1956, c. 16, p. 53, s. 3.