New Jersey Statutes 52:18A-89.15. Department of the Treasury use of qualified minority and women-owned financial institutions
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Terms Used In New Jersey Statutes 52:18A-89.15
- Fiduciary: A trustee, executor, or administrator.
- 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
1. a. The Director of the Division of Investment in the Department of the Treasury shall, subject to and consistent with the director’s fiduciary duties and the standard for prudent investment set forth in section 11 of P.L.1950, c.270 (C. 52:18A-89), attempt to use to the greatest extent feasible qualified minority and women-owned financial institutions to provide brokerage and investment management services.
b. As used in this section:
“Qualified minority and women-owned financial institution” means a financial institution qualified to engage in State investment transactions that has a valid certification as a “minority business” or a “women’s business” pursuant to P.L.1986, c.195 (C. 52:27H-21.17 et seq.).
L.2019, c.2, s.1.