43:16-8 - Existing boards vacated;Ā fund placed under this subtitle
43:16-8.Ā Existing boards vacated;Ā fund placed under this subtitle
When there is established in any municipality a fund for the retiring and pensioning of members of the police or fire departments thereof, all boards or bodies having control thereof are hereby vacated, and all pension or retirementĀ funds in their hands or under their control shall be turned over and come underĀ the control and regulation of this subtitle.Ā The municipal treasurer and theĀ commission hereby created shall assume all obligations and control of suchĀ prior fund and shall pay all pensions or obligations under it to the personsĀ entitled thereto under the act or acts under which it was created.
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When there is established in any municipality a fund for the retiring and pensioning of members of the police or fire departments thereof, all boards or bodies having control thereof are hereby vacated, and all pension or retirementĀ funds in their hands or under their control shall be turned over and come underĀ the control and regulation of this subtitle.Ā The municipal treasurer and theĀ commission hereby created shall assume all obligations and control of suchĀ prior fund and shall pay all pensions or obligations under it to the personsĀ entitled thereto under the act or acts under which it was created.
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