The opinion of the court was delivered by PRESSLER, J.A.D.
These consolidated appeals present a narrow but important question regarding the scope of the investment powers accorded by the Legislature to savings and loan associations.
The most recent comprehensive revision of the Savings and Loan Act, N.J.S.A. 17:12B-1 et seq., enacted in 1963, permits such associations to invest "In any investment in which savings banks of New Jersey are or shall...
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