There is a newer version
of
this Section
2019 New Jersey Revised Statutes
Title 52 - State Government, Departments and Officers
Section 52:18A-78.25 - Moneys received pursuant to act as trust funds
Universal Citation: NJ Rev Stat § 52:18A-78.25 (2019)
52:18A-78.25. Moneys received pursuant to act as trust funds
All sums of money received pursuant to the authority of this act, whether as proceeds from the sale of bonds or notes or as revenues or receipts, shall be deemed to be trust funds to be held and applied solely as provided in the proceedings under which the bonds or notes are authorized. Any officer with whom or any bank or trust company with which such sums of money shall be deposited as trustee thereof shall hold and apply the same for the purposes thereof, subject to such provisions as this act and the proceedings authorizing the bonds or notes of any issue or the trust agreement securing the bonds or notes may provide.
L.1981, c. 120, s. 25, eff. April 16, 1981.
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.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
