N.J. Stat. § 17:16Z-6
Selection of bank as depository for public moneys, funds
New Jersey · New Jersey Statutes Title 17 — Corporations and Institutions for Finance and Insurance · Status: effective
Cite this
- Citation
- N.J. Stat. § 17:16Z-6, Selection of bank as depository for public moneys, funds, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1443549
- Permanent ID
ys:prov:1443549@1- SHA-256
b226e11fd8fd7a7fdd8b70a906f0aababd44bf0605ea8d5de6d2ef96207661a8
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
6. a. Notwithstanding the provisions of section 1 of P.L.1956, c.174 (C.52:18-16.1) or any other law to the contrary, the State Treasurer may select a bank in a district as a depository for public moneys or funds that are otherwise in the custody of the State Treasurer.
b. Subject to an agreement between the State Treasurer and the bank, funds of the State deposited in the bank may earn a fixed rate of interest which is at or below the bank's posted rate for a mutually agreeable depository product, for a mutually agreeable term.