52:18A-90.1 - Common trust fund
52:18A-90.1.Ā Common trust fund
Notwithstanding any statute or rule of law to the contrary, the Director ofĀ the Division of Investment may, subject to the approval of the State InvestmentĀ Council and the State Treasurer, establish, maintain and operate one or moreĀ common trust funds, in which may be combined for the purpose of investment,Ā money and property belonging to the various funds in the custody of the StateĀ Treasurer;Ā provided, however, that there shall not be combined in any commonĀ trust fund, excepting the State of New Jersey Cash Management Fund establishedĀ pursuant to section 1 of this amendatory and supplementary act, moneys andĀ property of any fund the income of which inures to the benefit of the GeneralĀ State Fund and money and property of any fund the income of which inures to theĀ benefit of said fund.
L.1970, c. 270, s. 1, eff. Nov. 4, 1970.Ā Amended by L.1977, c. 281, s. 2, eff. Nov. 2, 1977.
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Notwithstanding any statute or rule of law to the contrary, the Director ofĀ the Division of Investment may, subject to the approval of the State InvestmentĀ Council and the State Treasurer, establish, maintain and operate one or moreĀ common trust funds, in which may be combined for the purpose of investment,Ā money and property belonging to the various funds in the custody of the StateĀ Treasurer;Ā provided, however, that there shall not be combined in any commonĀ trust fund, excepting the State of New Jersey Cash Management Fund establishedĀ pursuant to section 1 of this amendatory and supplementary act, moneys andĀ property of any fund the income of which inures to the benefit of the GeneralĀ State Fund and money and property of any fund the income of which inures to theĀ benefit of said fund.
L.1970, c. 270, s. 1, eff. Nov. 4, 1970.Ā Amended by L.1977, c. 281, s. 2, eff. Nov. 2, 1977.
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