34:15-119. Administration expenses ; report to legislature.

The expense of administering the stock fund shall be paid out of the stock fund and the expense of administering the mutual fund shall be paid out of the mutual fund. The Commissioner of Banking and Insurance shall serve as administrator of each fund without additional compensation, but may be allowed and paid from either fund expenses incurred in the performance of his duties in connection with that fund. The compensation of those persons employed by such commissioner shall be deemed administration expenses payable from the fund in the manner provided in paragraph eight of this act. Such commissioner shall include in his regular report to the legislature a statement of the expense of administering each of such funds for the preceding year.