New Jersey Statutes 40:48-8.42. Bank or trust company as paying agent
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Terms Used In New Jersey Statutes 40:48-8.42
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
- Trustee: A person or institution holding and administering property in trust.
No bonds or notes entitled to the benefits of this amendatory and supplementary act shall be issued unless there is designated therefor a trustee paying agent or paying agents, at least one of which is a bank or trust company authorized to do business in this State.
L.1979, c. 273, s. 17, eff. Jan. 3, 1980.