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Section: Formation of mutual savings bank holding company

Statute: 52:27D-388

There shall be allocated to each level of qualifying municipalities a portion of the funds appropriated for the purposes of this act, as follows: Level I - 32.5% of the funds so appropriated; Level II - 57.5% of the funds so appropriated; and Level III - 10% of the funds so appropriated. In allocating funds to Level II qualifying municipalities, there shall be additionally allocated any portion of the amount allocated to Level I qualifying municipalities which is not apportioned to those municipalities pursuant to section 6 of this act. L.1990,c.85,s.5.

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