New Jersey Administrative Code
Title 3 - BANKING
Chapter 34 - GOVERNMENTAL UNIT DEPOSIT PROTECTION
Subchapter 1 - GOVERNMENTAL UNIT DEPOSIT PROTECTION
Section 3:34-1.12 - Agreement or resolution; public depository and custodial depository
Universal Citation: NJ Admin Code 3:34-1.12
Current through Register Vol. 56, No. 18, September 16, 2024
Each public depository shall be required to have a written agreement with a custodial depository. Said agreement shall indicate that the collateral pledged is to be held subject to the order of the Commissioner or his or her authorized deputy and is held as security for public funds as required under the Act.
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