52:18A-90.1 - Common trust fund - New Jersey Statutes

52:18A-90.1.  Common trust fund
    Notwithstanding any statute or rule of law to the contrary, the Director of  the Division of Investment may, subject to the approval of the State Investment  Council and the State Treasurer, establish, maintain and operate one or more  common trust funds, in which may be combined for the purpose of investment,  money and property belonging to the various funds in the custody of the State  Treasurer;  provided, however, that there shall not be combined in any common  trust fund, excepting the State of New Jersey Cash Management Fund established  pursuant to section 1 of this amendatory and supplementary act, moneys and  property of any fund the income of which inures to the benefit of the General  State Fund and money and property of any fund the income of which inures to the  benefit of said fund.

     L.1970, c. 270, s. 1, eff. Nov. 4, 1970.  Amended by L.1977, c. 281, s. 2, eff. Nov. 2, 1977.