5:10-16 - Authorization as legal investment or security for public deposits - New Jersey Statutes

5:10-16.  Authorization as legal investment or security for public deposits
    The State and all public officers, governmental units and agencies thereof,  all banks, trust companies, savings banks and institutions, building and loan  associations, savings 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  executors, administrators, guardians, trustee and other fiduciaries, may  legally invest any sinking funds, moneys or other funds belonging to them or  within their control in any bonds or notes issued pursuant to the act, and such  bonds or notes shall be authorized security for any and all public deposits.

     L.1971, c. 137, s. 16, eff. May 10, 1971.