N.J. Stat. § 58:11B-15

Current through L. 2024, c. 80.

Section 58:11B-15 - Authorized investment

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, trustees and other fiduciaries may legally invest any sinking funds, moneys or other funds belonging to them or within their control in any bonds, notes or other obligations issued pursuant to P.L. 1985, c.334 (C.58:11B-1 et seq.), P.L. 1997, c. 224(C.58:11B-10.1 et al.), or sections 22 and 34 through 38 of P.L. 2016, c. 56(C.58:11B-10.3 through C.58:11B-10.5, C.58:11B-20.2, C.58:11B-22.3, and C.58:11B-22.4), and those bonds, notes or other obligations shall be authorized security for any and all public deposits.

N.J.S. § 58:11B-15

Amended by L. 2016, c. 56,s. 26, eff. upon the appropriation by the State of eligible federal or State funds into the State Transportation Infrastructure Bank Fund pursuant to section 34 of P.L. 2016, c. 56 (C.56:11B-10.4) and funds are appropriated to the trust to cover administrative and operational expenses related to the State Transportation Infrastructure Bank.

L.1985, c.334, s.15; amended 1997 c. 224, s. 13.