New Jersey Statutes
§ 17:9-42 — Security requirement for public depositories.
New Jersey·Title 17 CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
2.The receipt and holding of public funds on deposit by a public depository is a voluntary activity undertaken by that depository. However, no governmental unit shall deposit public funds in a public depository unless such funds are secured by the depository, and the depository is otherwise in compliance, or acting in accordance with, this act. L.1970, c.236, s.2; amended 2009, c.326, s.2.
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Nearby Sections
15
§ 17:9-41
Definitions.§ 17:9-44 Amount of collateral required as security; exceptions.
§ 17:9-44 Amount of collateral required as security; exceptions.§ 17:9-47
Operative date.§ 17:9-48
Short title§ 17:9A-1
Definitions§ 17:9A-100
Liability of stockholders§ 17:9A-101
Directors; number; method of determination§ 17:9A-103
Directors; stock ownership, oath