52:18A-114 - Investment of assets of variable and fixed divisions
52:18A-114.Ā Investment of assets of variable and fixed divisions
The assets of the Variable Division and the Fixed Division may be invested through the same agency as other State funds are invested; provided, however, that the council is hereby authorized to use other funding media, including group annuity contracts containing such provisions as the council determines toĀ comply substantially with the applicable statutory requirements, which are madeĀ available by life insurance companies authorized to issue such contracts inĀ this State and having assets in excess of $1,000,000,000.00.
L.1963, c. 123, s. 8.
The assets of the Variable Division and the Fixed Division may be invested through the same agency as other State funds are invested; provided, however, that the council is hereby authorized to use other funding media, including group annuity contracts containing such provisions as the council determines toĀ comply substantially with the applicable statutory requirements, which are madeĀ available by life insurance companies authorized to issue such contracts inĀ this State and having assets in excess of $1,000,000,000.00.
L.1963, c. 123, s. 8.