§ 49:325 — State treasurer may invest in certain federal bonds

A. The state treasurer may invest from time to time in United States Series "E" and Series "H" Savings Bonds such monies as are available for investment out of the free school investment fund, the state police retirement fund, and the interest and bond redemption account of the Transportation Trust Fund. The interest earned on bonds purchased for these funds shall be credited by the state treasurer to the respective fund for which the bonds were acquired.
B. The state treasurer may also at any time that he may deem advisable, cash and liquidate any or all of the bonds purchased for either fund, and the proceeds of the liquidation shall be credited to the fund from which the bonds were originally purchased.

Legislative History

Acts 1976, No. 428, §1, eff. July 31, 1976; Acts 1999, No. 897, §3, eff. July 2, 1999.