2016 New Jersey Revised Statutes
Title 17 - Corporations And Institutions For Finance And Insurance
Section 17:9A-180.2 - Limitations On Investments In Such Corporate Interest Bearing Securities
17:9A-180.2. Limitations on investments in such corporate interest bearing securities
No savings bank shall make an investment pursuant to this act at any time when the total of all such investments in obligations of such corporation, including bonds issued, guaranteed, assumed or otherwise agreed to be paid by such corporation, exceeds, or if the making of such investment would cause such total to exceed, five per centum (5%) of such obligations of such corporation, or two per centum of the assets of the savings bank, whichever amount is less.
L.1951, c. 167, p. 644, s. 2.
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