New Jersey § 17:12b-241
Full text of New Jersey New Jersey Statutes § 17:12b-241, with citation guidance and answers to common questions.
§ 17:12b-241.
All public funds, including those of the State of New Jersey, or any county or municipality
or other political subdivision of New Jersey, and those in the control or possession
of any public board or official, and all trust funds of every character in the control
or possession of any fiduciary or other person or corporation, may, without any order
of any court, be invested in one or more accounts in any insured association whose
principal office is located in New Jersey in any amounts up to, but not exceeding,
the amounts for which such accounts are insured, or 25% of the total reserves and
undivided profits of the association, whichever is greater. Any savings bank may invest in one or more accounts in any such association in any
amounts up to, but not exceeding, the amounts for which such accounts are insured,
or 25% of the total reserves and undivided profits of the association, whichever is
greater. Any such account, in any amount up to, but not exceeding, the amount for which it
is insured, or 25% of the total reserves and undivided profits of the association,
whichever is greater, shall be eligible for acceptance as security, whenever security
is required by any law of this State.
Frequently Asked Questions About New Jersey § 17:12b-241
What does New Jersey Statutes § 17:12b-241 cover?
Section 17:12b-241 is part of the New Jersey Statutes, the codified statutory law of New Jersey. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite New Jersey § 17:12b-241?
A common citation format is "New Jersey Statutes § 17:12b-241" (New Jersey). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of New Jersey law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Jersey official source linked on this page or consult a licensed New Jersey attorney.
How does New Jersey § 17:12b-241 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Jersey can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in New Jersey.