New Jersey Statutes
§ 17:16Z-6 — Selection of bank as depository for public moneys, funds.
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
6.
a.Notwithstanding the provisions of section 1 of P.L.1956, c.174 (C.52:18-16.1) or any other law to the contrary, the State Treasurer may select a bank in a district as a depository for public moneys or funds that are otherwise in the custody of the State Treasurer.
b.Subject to an agreement between the State Treasurer and the bank, funds of the State deposited in the bank may earn a fixed rate of interest which is at or below the bank's posted rate for a mutually agreeable depository product, for a mutually agreeable term. L.2011, c.24, s.6.
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Nearby Sections
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§ 17:16Z-1
Short title.§ 17:16Z-3
Banking Development District Program.§ 17:16Z-4
Rules, regulations setting forth criteria for establishment of banking development districts.§ 17:16Z-8
Rules, regulations.§ 17:16ZZ-10
Additional authority of the commissioner.§ 17:16ZZ-12
Actions, counterclaims by borrower.§ 17:16ZZ-13
Remedies not exclusive.§ 17:16ZZ-14
Compliance with federal laws and regulations.§ 17:16ZZ-15
Reports.