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New Jersey Statutes, Title: 48, PUBLIC UTILITIES
Chapter 3: Unjust or unreasonable discriminations or classifications of rates; "board" defined
Section: 48:3-7.3: Investment of depreciation fund in certain securities; approval of board
No public utility shall, without the approval in writing of the board first had and obtained, invest any part of its depreciation fund in obligations or securities of any kind, except obligations and securities that are legal investments for savings banks under the laws of this state, and except obligations and securities of the underlying or subsidiary public utility corporations of this state, of such public utility.
This section added to the Rutgers Database: 2012-09-26 13:37:54.
Older versions of 48:3-7.3 (if available):
Court decisions that cite this statute:
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