40:37-158 - Control of fund; bond of treasurer; investments - New Jersey Statutes

40:37-158.  Control of fund;  bond of treasurer;  investments
    The park police pension fund in each county shall be managed and controlled  by the park commission of that county.  The secretary of the commission shall  be treasurer, ex officio, of the fund, and all moneys of the fund shall be  received and disbursed by him, and shall be deposited in such bank or banks of  deposit as the commission shall designate.  The treasurer shall give bond in  such sum as the commission shall determine, with sufficient sureties to be  approved by it, for the faithful performance of his duties.  If the surety is a  corporation, the premiums shall be paid by the commission from the funds under  its control.  The commission shall invest and keep invested the moneys of the  fund, so far as the same can be done, in securities authorized by law for the  investment of trust funds.