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Code · New Jersey · Title 40A — Municipalities and Counties · Chapter 4

40A:4-63. Money in separate funds treated as trust funds

62 words·~1 min read·/nj/title-40a/chapter-4/40a-4-63

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Moneys held in any separate fund shall be treated by the officers of the local unit as moneys held in trust for the purpose for which such separate fund was created, and no banking institution accepting any such fund as provided for in this chapter shall divert the moneys to any other purpose.
L.1960, c. 169, s. 1, eff. Jan. 1, 1962.
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