N.J.S.A. 48:3-7.6 — Balance of depreciation fund to be deposited within state

48:3-7.6. Balance of depreciation fund to be deposited within state Every public utility shall deposit, and at all times keep deposited in its own name and to its own credit and in a banking or trust company located in this state, the balance of the depreciation fund of such public utility which is not invested in accordance herewith or expended in accordance with section 48:2-18 of this title. This provision shall apply to every depreciation fund whether accumulated before or after March twelfth, one thousand nine hundred and thirty-five.

This is the verbatim text of N.J.S.A. 48:3-7.6, 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.