43:10-18.5. Deposit of funds; investments
72 words·~1 min read·
/nj/title-43/chapter-10/43-10-18-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The pension commission shall deposit the funds in any of the banks or trust companies in the county. All moneys not needed for immediate payment of the pensions shall be invested by the pension commission in interest bearing bonds of any municipality in this State or in any other interest bearing securities in which savings banks of this State are authorized to invest their funds.
L.1943, c. 160, p. 450, s. 5.