2009 New Jersey Code
TITLE 52 - STATE GOVERNMENT, DEPARTMENTS AND OFFICERS
Section 52:18A
52:18A-86 - Powers and duties relating to investment of certain funds to be  performed by Director of Division of Investment

52:18A-86.  Powers and duties relating to investment of certain funds to be  performed by Director of Division of Investment
    The functions, powers and duties of, or relating to, investment or reinvestment of moneys of, and purchase, sale or exchange of, any investments or securities of or for, any of the following funds, namely:

     The 1837 Surplus Revenue Fund;

      The Veterans Loan Guaranty and Insurance Fund;

      The Stock Workmen's Compensation Security Fund;

      The Mutual Workmen's Compensation Security Fund;  and

      The Motor Vehicle Liability Security Fund;

     and the functions, powers and duties of, or relating to, investment or reinvestment of moneys and purchase, sale or exchange of any investments or securities pursuant to the provisions of chapter 148 of the laws of 1944, and chapter 158 of the laws of 1947;  are hereby transferred to and shall be exercised and performed by the Director of the Division of Investment established hereunder;  provided, however, that before any investment, reinvestment, purchase, sale or exchange may be made by said director pursuant to the provisions of this section, he shall submit the details thereof to the State Treasurer, who shall, within 48 hours, exclusive of Sundays and public holidays, after such submission to him, file with the director his written acceptance or rejection of such proposed investment, reinvestment, purchase, sale or exchange;  and the director shall have authority to make such investment, reinvestment, purchase, sale or exchange unless there shall have been filed with him a written rejection thereof by the State Treasurer as herein provided.

     L.1950, c. 270, p. 921, s. 8.  Amended by L.1952, c. 272, p. 924, s. 2; L.1953, c. 115, p. 1301, s. 1;  L.1954, c. 108, p. 580, s. 2.
 
52:18A-86.1.Acceptance, investment of moneys
3. The Director of the Division of Investment is authorized to accept, for purposes of investment, moneys from any joint self-insurance fund established by any school board insurance group pursuant to P.L.1983, c.108 (C.18A:18B-1 et seq.) and moneys from any joint insurance fund established by two or more units of local government, including contracting units, pursuant to P.L.1983, c.372 (C.40A:10-36 et seq.).  All moneys accepted by the director pursuant to this section shall be invested on behalf of the funds in accordance with the standards governing the investment of other funds managed under the rules and regulations of the State Investment Council.  Moneys accepted by the director pursuant to subsection c. of section 3 of P.L.1983, c. 372 (C.40A:10-38) may be invested and reinvested pursuant to the written directions of the commissioners, signed by an authorized officer of the joint insurance fund, or any investment or asset manager designated by them. The commissioners shall provide a written notice to the director detailing the extent of the authority delegated to the investment or asset manager so designated to act on behalf of the joint insurance fund.

L.1992,c.53,s.3; amended 1995,c.374,s.2.