New Jersey Revised Statutes § 17:9-42 - Security Requirement For Public Depositories.

17:9-42 Security requirement for public depositories.

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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Last modified: October 11, 2016