52:18A-8.3 - Provision against loss or damage required in agreements
52:18A-8.3.Ā Provision against loss or damage required in agreements
All agreements entered into by the State Treasurer with any bank pursuant toĀ this act, shall provide that such bank or banks shall be responsible to theĀ State, to the State Treasurer, and to any pension agency, fund or system concerned, for the proper and faithful performance of the services required of it pursuant to the terms of the agreement, for the fidelity and integrity of the officers, employees and agents employed in any undertaking under said agreement, and for any and all loss or damage which may result from any failureĀ to discharge or from any improper or incorrect discharge of their duties, andĀ that such bank or banks shall save harmless the State, the State Treasurer, andĀ any pension agency, fund or system concerned, or any trustee or officerĀ thereof, from any and all loss or damage caused thereby.
L.1954, c. 22, p. 77, s. 3.
Ā
All agreements entered into by the State Treasurer with any bank pursuant toĀ this act, shall provide that such bank or banks shall be responsible to theĀ State, to the State Treasurer, and to any pension agency, fund or system concerned, for the proper and faithful performance of the services required of it pursuant to the terms of the agreement, for the fidelity and integrity of the officers, employees and agents employed in any undertaking under said agreement, and for any and all loss or damage which may result from any failureĀ to discharge or from any improper or incorrect discharge of their duties, andĀ that such bank or banks shall save harmless the State, the State Treasurer, andĀ any pension agency, fund or system concerned, or any trustee or officerĀ thereof, from any and all loss or damage caused thereby.
L.1954, c. 22, p. 77, s. 3.
Ā