2017 New Jersey Revised Statutes
TITLE 40A - MUNICIPALITIES AND COUNTIES
Section 40A:4-63 - Money in separate funds treated as trust funds

Universal Citation: NJ Rev Stat § 40A:4-63 (2017)

40A:4-63. Money in separate funds treated as trust funds

Moneys held in any separate fund shall be treated by the officers of the local unit as moneys held in trust for the purpose for which such separate fund was created, and no banking institution accepting any such fund as provided for in this chapter shall divert the moneys to any other purpose.

L.1960, c. 169, s. 1, eff. Jan. 1, 1962.

Disclaimer: These codes may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.