New Jersey § 52:18a-86

§ 52:18a-86.

The functions, powers and duties of, or relating to, investment or reinvestment of

moneys of, and purchase, sale or exchange of, any investments or securities of or

for, any of the following funds, namely: The 1837 Surplus Revenue Fund; The Veterans Loan Guaranty and Insurance Fund; The Stock Workmen's Compensation Security Fund; The Mutual Workmen's Compensation Security Fund; and The Motor Vehicle Liability Security Fund; and the functions, powers and duties of, or relating to, investment or reinvestment

of moneys and purchase, sale or exchange of any investments or securities pursuant

to the provisions of chapter 148 of the laws of 1944, 1 and chapter 158 of the laws of 1947; 2 are hereby transferred to and shall be exercised and performed by the Director of

the Division of Investment established hereunder; provided, however, that before

any investment, reinvestment, purchase, sale or exchange may be made by said director

pursuant to the provisions of this section, he shall submit the details thereof to

the State Treasurer, who shall, within 48 hours, exclusive of Sundays and public holidays,

after such submission to him, file with the director his written acceptance or rejection

of such proposed investment, reinvestment, purchase, sale or exchange; and the director

shall have authority to make such investment, reinvestment, purchase, sale or exchange

unless there shall have been filed with him a written rejection thereof by the State

Treasurer as herein provided. 1

N.J.S.A. § 52:18-25.1. 2

N.J.S.A. §§ 52:18-25.2 to 52:18-25.4.