New Jersey § 43:10-12
Full text of New Jersey New Jersey Statutes § 43:10-12, with citation guidance and answers to common questions.
§ 43:10-12.
The pension commission shall deposit the funds in any of the banks or trust companies
of the county. All moneys not needed for the immediate payment of the pensions shall be invested
by the pension commission in (a) interest-bearing securities in which savings banks
of this State are authorized to invest their funds, (b) bonds or other evidences of
indebtedness issued by any company incorporated within and transacting business within
the United States, which are not in default as to either principal or interest when
acquired, (c) direct obligations of or unconditionally guaranteed as to principal
and interest by the government of Canada, payable as to both principal and interest
in United States dollars, or which are the direct obligations of or unconditionally
guaranteed as to principal and interest by any of the provinces thereof, payable as
to both principal and interest in United States dollars, (d) mortgage bonds or notes
secured by property within this State and insured by the Federal Housing Administrator
and (e) capital stock or other securities issued by any company incorporated within
the United States, in which life insurance companies organized under the laws of this
State may legally invest, provided that the book value of the total investment in
common and preferred stock does not exceed 15% of the book value of the fund, except
that not more than 10% of the book value of the fund shall be invested in common stock. The pension commission shall recommend and the board of freeholders shall appoint
independent investment counsel to service the investment needs of the fund.
Frequently Asked Questions About New Jersey § 43:10-12
What does New Jersey Statutes § 43:10-12 cover?
Section 43:10-12 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 § 43:10-12?
A common citation format is "New Jersey Statutes § 43:10-12" (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 § 43:10-12 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.