52:27D-364. Volunteer Emergency Service Organization Loan Fund
129 words·~1 min read·
/nj/title-52/chapter-27d/52-27d-364A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
a. There is created a special fund in the Department of the Treasury to be known as the "Volunteer Emergency Service Organizations Loan Fund" to which shall be credited all appropriations as well as repayment of principal and interest on loans made pursuant to this act.
b. Upon approval of a loan, the department shall routinely requisition from the Volunteer Emergency Service Organizations Loan Fund amounts as shall be allocated by the department for loans to volunteer emergency service organizations. When the amounts so allocated by the department as loans are repaid to the department pursuant to the terms of the agreements made and entered into with the department, the department shall pay the amounts into the Volunteer Emergency Service Organizations Loan Fund.
L. 1987, c. 8, s. 4.