New Jersey § 17:9a-61

§ 17:9a-61.

This article 1 shall not apply to: (1) loans to or investments in obligations of the United States, this State or any

county of this State, or investments in obligations unconditionally guaranteed both

as to principal and interest by the United States or this State; (2) obligations to the extent that they are secured or covered by guarantees or by

commitments or agreements to take over or to purchase made by any Federal Reserve

Bank or by the United States, or by any department, bureau, board, commission or establishment

of the United States, including any corporation, wholly-owned directly or indirectly

by the United States; provided, that such guarantees, agreements or commitments are

unconditional and must be performed by payment of cash or its equivalent within 60

days after demand; (3) obligations in the form of drafts or bills of exchange drawn in good faith against

actually existing values, whether or not accepted by the drawee; (4) obligations in the form of bankers' acceptances which are eligible for rediscount

with a Federal Reserve bank; (5) obligations arising out of the discount of negotiable or nonnegotiable commercial

or business paper actually owned by the person negotiating the same; (6) demand balances owing by a reserve depositary arising out of deposits made pursuant

to article 10; 2 (7) obligations resulting from daily clearances through any clearing house association; (8) demand balances owing by a bank, or by a national banking association having its

principal office in this State, or by a bank or trust company incorporated under the

laws of any other State or territory of the United States or the District of Columbia,

or by a national banking association having its principal office in any other State

or territory of the United States or the District of Columbia; and (9) obligations of any diocese, synod, presbytery or other corporate governing body

of any religious denomination organized as a corporation pursuant to the laws of the

State of New Jersey as guarantor of or endorser of obligations of a church under its

jurisdiction. 1

N.J.S.A. §§ 17:9A-60 to 17:9A-63. 2

N.J.S.A. §§ 17:9A-47 to 17:9A-49.