N.J.S.A. 43:7-20 — Deposit and investment of fund

43:7-20. Deposit and investment of fund Said pension commission shall deposit such fund in any of the banks or trust companies of the State, and shall invest the same in bonds secured by first mortgages on improved property worth at least twice the amount loaned, or in bonds of the United States or of this State, or any city or county in this State. All income, interest or dividend which shall be paid or agreed to be paid on account of any loan or deposit shall belong to and constitute a part of said fund. L.1941, c. 220, p. 635, s. 14.

This is the verbatim text of N.J.S.A. 43:7-20, retrieved from the New Jersey Legislature's public statute corpus. Statutes are amended periodically — for the most current version, check the external source link above. Kyzer is not a law firm and this page is not legal advice.