N.J. Admin. Code § 17:4A-22.1

Current through Register Vol. 56, No. 21, November 4, 2024

Section 17:4A-22.1 - Permissible investments

(a) Subject to the limitations in this subchapter, the Board may sell and repurchase covered call options on behalf of the PFRSNJ, provided that any covered call option purchased or sold shall be listed on a securities exchange, traded on the over-the-counter market, or be bid/offered on a competitive basis with multiple broker dealers.

(b) Notwithstanding the restrictions in this subchapter, the Board may approve covered call options on a case-by-case basis if the Board determines such transaction to be in the financial best interest of the PFRSNJ and its beneficiaries and is consistent with the Board's fiduciary responsibility.

N.J. Admin. Code § 17:4A-22.1

Adopted by 53 N.J.R. 1147(a), effective 7/6/2021

Recodified from 17:4A-22.2 by 56 N.J.R. 795(a) effective 5/6/2024