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New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 9A-180.1

Current as of January 01, 2024 | Updated by Findlaw Staff

A savings bank may, in addition to other investments presently or from time to time hereafter authorized by law, invest in corporate interest-bearing securities not otherwise eligible for investment by savings banks;

(1) which are not in default as to either principal or interest when acquired, and

(a) which have a maturity of not less than five years from the date of issue, or,

(b) which are part of an issue, issued in a series or repayable in installments, the whole of which issue has an average maturity of not less than five years from the date of issue.

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Cite this article: FindLaw.com - New Jersey Statutes Title 17. Corporations and Institutions for Finance and Insurance 17 § 9A-180.1 - last updated January 01, 2024 | https://codes.findlaw.com/nj/title-17-corporations-and-institutions-for-finance-and-insurance/nj-st-sect-17-9a-180-1/

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