38:23B-14.4a - Total reserve funds
38:23B-14.4a.Ā Total reserve funds
The sum total of all reserve funds set aside by the authority in accordanceĀ with the provisions of section nine of chapter one hundred eighty-five of theĀ laws of one thousand nine hundred and forty-five, together with such amount asĀ the commissioner may set aside, out of the veterans guaranty and insuranceĀ fund, to meet the payment by the authority of approved veterans' notesĀ submitted to it for purchase in accordance with the provisions of section tenĀ of chapter one hundred eighty-five of the laws of one thousand nine hundred andĀ forty-five, shall in no event be less than twenty per centum (20%) of the totalĀ face amount of all approved veterans' loans from time to time outstanding.
L.1946, c. 121, p. 566, s. 14, eff. April 22, 1946.
Ā
The sum total of all reserve funds set aside by the authority in accordanceĀ with the provisions of section nine of chapter one hundred eighty-five of theĀ laws of one thousand nine hundred and forty-five, together with such amount asĀ the commissioner may set aside, out of the veterans guaranty and insuranceĀ fund, to meet the payment by the authority of approved veterans' notesĀ submitted to it for purchase in accordance with the provisions of section tenĀ of chapter one hundred eighty-five of the laws of one thousand nine hundred andĀ forty-five, shall in no event be less than twenty per centum (20%) of the totalĀ face amount of all approved veterans' loans from time to time outstanding.
L.1946, c. 121, p. 566, s. 14, eff. April 22, 1946.
Ā