New Jersey § 18a:56-8
Full text of New Jersey New Jersey Statutes § 18a:56-8, with citation guidance and answers to common questions.
§ 18a:56-8.
Moneys belonging to the school fund shall be invested by the division of investment
in the department of the treasury in the bonds of the several school districts of
this state, or in the bonds of the United States, this state, or any county or municipality
of this state. No investment shall be made in the bonds of any municipality the total indebtedness
of which, including the school debt, shall exceed 30% of the assessed valuation of
all the real and personal property therein; but in ascertaining the total indebtedness
credit shall be allowed only for such moneys or property as shall be in the sinking
fund. No investment shall be made in the bonds of any county the total indebtedness of
which shall exceed in the aggregate 15% of the total assessable valuation of all taxable
property therein. Interest on such bonds shall be a part of the income of the school fund.
Frequently Asked Questions About New Jersey § 18a:56-8
What does New Jersey Statutes § 18a:56-8 cover?
Section 18a:56-8 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 § 18a:56-8?
A common citation format is "New Jersey Statutes § 18a:56-8" (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 § 18a:56-8 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.