New Jersey § 43:13-50 Deposit and investment of fund;  income

New Jersey Statutes

§ 43:13-50 — Deposit and investment of fund; income

New Jersey § 43:13-50

Title 43PENSIONS AND RETIREMENT AND UNEMPLOYMENT COMPENSATION

This text of New Jersey § 43:13-50 (Deposit and investment of fund; income) is published on Counsel Stack Legal Research, covering New Jersey primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.J. Stat. Ann. § 43:13-50 (2026).

Text

The pension commission shall deposit the fund in any of the banks or trust companies of the village, and shall invest the fund in bonds secured by first mortgages on improved property worth at least twice the amount loaned, or in bonds of the United States, of this State or of any municipality in this State, or in securities in which savings banks of this State are authorized by law to invest. All income, interest or dividend paid or agreed to be paid on account of any loan or deposit shall belong to and constitute a part of the fund. Amended by L.1945, c. 213, p. 714, s. 5.

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The pension commission shall deposit the fund in any of the banks or trust companies of the village, and shall invest the fund in bonds secured by first mortgages on improved property worth at least twice the amount loaned, or in bonds of the United States, of this State or of any municipality in this State, or in securities in which savings banks of this State are authorized by law to invest. All income, interest or dividend paid or agreed to be paid on account of any loan or deposit shall belong to and constitute a part of the fund. Amended by L.1945, c. 213, p. 714, s. 5.