Securities of local unit purchased by it not to be canceled; sale thereafter

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  4. Securities of local unit purchased by it not to be canceled; sale thereafter

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40A:5-15.3. Securities of local unit purchased by it not to be canceled; sale thereafter

Securities of a local unit purchased by it shall not be canceled but may be sold as and when directed by resolution adopted by a majority vote of all the members of the governing body.

L.1977, c. 396, s. 10, eff. Feb. 23, 1978.


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