New Jersey § 32:1-35

§ 32:1-35.

The bonds issued by the port authority to provide funds for any of the purposes of

this act are hereby made securities in which all State and municipal officers and

bodies of both States, all trust companies and banks other than savings banks, all

building and loan associations, savings and loan associations, investment companies

and other persons carrying on a commercial banking business, all insurance companies,

insurance associations and other persons carrying on an insurance business, and all

administrators, executors, guardians, trustees and other fiduciaries, and all other

persons whatsoever (other than savings banks), who are now or may hereafter be authorized

by either State to invest in bonds of such State, may properly and legally invest

any funds, including capital, belonging to them or within their control, and said

bonds are hereby made securities which may properly and legally be deposited with

and shall be received by any State or municipal officer or agency of either State

for any purpose for which the deposit of bonds of such State is now or may hereafter

be authorized. The bonds issued by the port authority to provide funds for any of the purposes

of this act as security for which the general reserve fund shall have been pledged

in whole or in part are hereby made securities in which all savings banks also may

properly and legally invest any funds, including capital, belonging to them or within

their control.