43:10-18.5 - Deposit of funds;Ā investments
43:10-18.5.Ā Deposit of funds;Ā investments
The pension commission shall deposit the funds in any of the banks or trustĀ companies in the county.Ā All moneys not needed for immediate payment of theĀ pensions shall be invested by the pension commission in interest bearing bondsĀ of any municipality in this State or in any other interest bearing securitiesĀ in which savings banks of this State are authorized to invest their funds.
L.1943, c. 160, p. 450, s. 5.
The pension commission shall deposit the funds in any of the banks or trustĀ companies in the county.Ā All moneys not needed for immediate payment of theĀ pensions shall be invested by the pension commission in interest bearing bondsĀ of any municipality in this State or in any other interest bearing securitiesĀ in which savings banks of this State are authorized to invest their funds.
L.1943, c. 160, p. 450, s. 5.