38:23B-14.4a - Total reserve funds - New Jersey Statutes

38:23B-14.4a.  Total reserve funds
    The sum total of all reserve funds set aside by the authority in accordance  with the provisions of section nine of chapter one hundred eighty-five of the  laws of one thousand nine hundred and forty-five, together with such amount as  the commissioner may set aside, out of the veterans guaranty and insurance  fund, to meet the payment by the authority of approved veterans' notes  submitted to it for purchase in accordance with the provisions of section ten  of chapter one hundred eighty-five of the laws of one thousand nine hundred and  forty-five, shall in no event be less than twenty per centum (20%) of the total  face amount of all approved veterans' loans from time to time outstanding.

     L.1946, c. 121, p. 566, s. 14, eff. April 22, 1946.