N.J. Admin. Code § 17:16-11.2

Current through Register Vol. 56, No. 24, December 18, 2024

Section 17:16-11.2 - Permissible investments

(a) Subject to the limitations contained in this subchapter, the Director may invest and reinvest the moneys of any eligible fund in United States Treasury Obligations and Government Agency Obligations, as well as Treasury receipts, certificates of accrual, collateralized mortgage obligations or similar securities which evidence ownership of interest and/or principal of United States Treasury Obligations or Government Agency Obligations, provided that the Director and a member of his staff certify that the security being considered for purchase is qualitatively substantially identical to the United States Treasury Obligations or Government Agency Obligations which secure or otherwise support it.

(b) Prior to any commitment to purchase a Government Agency Obligation, it shall be ascertained that the issuer is included on a list of government agencies maintained by the Director. The Director shall maintain a memorandum on file in support of the inclusion of any new government agencies on such list, and shall notify the Council of the inclusion at the next regularly scheduled meeting of the Council.

As amended, R.1972 d.75, eff. 4/19/1972.
See: 4 N.J.R. 109(a).
As amended, R.1974 d.323, eff. 11/20/1974.
See: 6 N.J.R. 496(a).
As amended, R.1975 d.97, eff. 4/8/1975.
See: 7 N.J.R. 241(a).
Amended by R.1985 d.552, effective 11/4/1985.
See: 17 N.J.R. 2093(a), 17 N.J.R. 2674(b).
Amended (a): added (a)1.-(a)3.
Recodified by R.1991 d.274, effective 6/3/1991.
See: 23 N.J.R. 983(a), 23 N.J.R. 1800(b).
Title changed.
Amended by R.2001 d.119, effective 4/2/2001.
See: 33 N.J.R. 372(b), 33 N.J.R. 1115(a).
Recodified from N.J.A.C. 17:16-11.1 and amended by R.2006 d.317, effective 9/5/2006.
See: 38 N.J.R. 2039(a), 38 N.J.R. 3632(a).
Section was "United States Treasury and Government Agency Obligations". Rewrote the section.