State Codes and Statutes
Statutes > New-jersey > Title-52 > Section-52-31c > 52-31c-552:31C-5 Establishment of State payment account for structured financing transaction.5. a. The State Treasurer may establish a State payment account for a structured financing transaction. If the State Treasurer determines that a State payment account should be established, the State Treasurer is authorized to:
(1)Select the payment bank in such manner as the State Treasurer may determine to be appropriate;
(2)Direct the deposit of moneys to the payment bank to fund the State payment account; and
(3)Take any actions necessary or convenient in connection with the establishment of the State payment account.
b.There are appropriated such moneys as are required to be deposited in a State payment account for the purposes specified in the related structured financing agreement.
L.1999,c.157,s.5.
