N.J.S.A. 48:3-7.3 — Investment of depreciation fund in certain securities; approval of board

48:3-7.3. Investment of depreciation fund in certain securities; approval of board No public utility shall, without the approval in writing of the board first had and obtained, invest any part of its depreciation fund in obligations or securities of any kind, except obligations and securities that are legal investments for savings banks under the laws of this state, and except obligations and securities of the underlying or subsidiary public utility corporations of this state, of such public utility.

This is the verbatim text of N.J.S.A. 48:3-7.3, 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.