43:16-8 - Existing boards vacated; fund placed under this subtitle - New Jersey Statutes

43:16-8.  Existing boards vacated;  fund placed under this subtitle
    When there is established in any municipality a fund for the retiring and pensioning of members of the police or fire departments thereof, all boards or bodies having control thereof are hereby vacated, and all pension or retirement  funds in their hands or under their control shall be turned over and come under  the control and regulation of this subtitle.  The municipal treasurer and the  commission hereby created shall assume all obligations and control of such  prior fund and shall pay all pensions or obligations under it to the persons  entitled thereto under the act or acts under which it was created.