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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE

    Chapter 16z:

      Section: 17:16z-6: Selection of bank as depository for public moneys, funds.

          
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.



This section added to the Rutgers Database: 2013-06-10 16:36:30.






Older versions of 17:16z-6 (if available):



Court decisions that cite this statute: CLICK HERE.