Okla. Stat. tit. 60, § 60-175.10
This is the official text of Okla. Stat. tit. 60, § 60-175.10, part of Oklahoma’s Stat. tit. 60, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 60,." Browse the sections below, each linked to its official government source.
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Deposits by corporate trustee with itself - Security
Official statutory text
A corporate trustee may deposit with itself trust funds in
checking and savings accounts, savings certificates, certificates of
deposit, and any other type of demand or time deposit, provided it
maintains under control of its trust department, if it has a trust
department separate from its banking department, as security for
such deposit a separate fund consisting of securities legal for
trust investments which have at all times during the deposit a total
market value exceeding the amount of the deposit. No such security
Oklahoma Statutes - Title 60. Property Page 53
shall be required to the extent said deposit is guaranteed by or
under state or federal law.
The separate fund of securities shall be marked as such.
Withdrawals from or additions to it may be made from time to time,
as long as the required value is maintained. The income of such
securities shall belong to the corporate trustee.
checking and savings accounts, savings certificates, certificates of
deposit, and any other type of demand or time deposit, provided it
maintains under control of its trust department, if it has a trust
department separate from its banking department, as security for
such deposit a separate fund consisting of securities legal for
trust investments which have at all times during the deposit a total
market value exceeding the amount of the deposit. No such security
Oklahoma Statutes - Title 60. Property Page 53
shall be required to the extent said deposit is guaranteed by or
under state or federal law.
The separate fund of securities shall be marked as such.
Withdrawals from or additions to it may be made from time to time,
as long as the required value is maintained. The income of such
securities shall belong to the corporate trustee.
Status: in_force · Read it on the official government site
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