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New Jersey Statutes, Title: 17, CORPORATIONS AND INSTITUTIONS FOR FINANCE AND INSURANCE
Chapter 9: Depositories for public moneys; designation; effect upon officers liability
Section: 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.
This section added to the Rutgers Database: 2013-06-10 16:36:30.
Older versions of 17:9-42 (if available):
Court decisions that cite this statute:
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