New Jersey § 32:2-23
Full text of New Jersey New Jersey Statutes § 32:2-23, with citation guidance and answers to common questions.
§ 32:2-23.
The bonds or other evidences of indebtedness which may be issued by the Port Authority
pursuant to this act are hereby made securities in which all State and municipal officers
and bodies, all banks, bankers, trust companies, savings banks, savings and loan associations,
investment companies and other persons carrying on a 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 who are now or may hereafter be authorized to invest in bonds
or other obligations of the electing State, may properly and legally invest any funds,
including capital, belonging to them or within their control; and said bonds or other
evidences of indebtedness are hereby made securities which may properly and legally
be deposited with and shall be received by any State or municipal officer or agency
for any purpose for which the deposit of bonds or other evidences of indebtedness
of the electing State is now or may hereafter be authorized. Such bonds or other evidences of indebtedness shall constitute negotiable instruments. Notwithstanding the provisions of this or any other legislation the rentals received
by the Port Authority from the leasing of any railroad cars under this act shall not
be pooled or applied to the establishment or maintenance of any reserve fund of the
Port Authority pledged as security for any bonds or other evidences of indebtedness
other than those issued pursuant to this act, and the bonds or other evidences of
indebtedness issued pursuant to this act shall not be included in measuring the principal
amount of bonds or other evidences of indebtedness upon which the amount of any such
reserve fund is calculated.
Frequently Asked Questions About New Jersey § 32:2-23
What does New Jersey Statutes § 32:2-23 cover?
Section 32:2-23 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 § 32:2-23?
A common citation format is "New Jersey Statutes § 32:2-23" (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 § 32:2-23 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.