48:3-7.3 - Investment of depreciation fund in certain securities; approval of board - New Jersey Statutes

48:3-7.3.  Investment of depreciation fund in certain securities; approval of board
    No public utility shall, without the approval in writing of the board first  had and obtained, invest any part of its depreciation fund in obligations or  securities of any kind, except obligations and securities that are legal  investments for savings banks under the laws of this state, and except  obligations and securities of the underlying or subsidiary public utility  corporations of this state, of such public utility.