State Codes and Statutes

Statutes > New-jersey > Title-40a > Section-40a-5 > 40a-5-15

40A:5-15.  Deposit of funds paid to the local unit
    All moneys, including moneys collected by taxation, received from any source  by or on behalf of any local unit or any board or department thereof shall,  within 48 hours after the receipt thereof, either

    a.  be paid to the officer charged with the custody of the general funds of  the local unit, who shall deposit all such funds within 48 hours after the receipt thereof to the credit of the local unit in its designated legal depository, or

    b.  be deposited to the credit of the local unit in its designated legal depository.

     L.1960, c. 169, s. 1, eff. Jan. 1, 1962.