Okla. Stat. tit. 62, § 62-513
This is the official text of Okla. Stat. tit. 62, § 62-513, part of Oklahoma’s Stat. tit. 62, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 62,." Browse the sections below, each linked to its official government source.
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Deposits with federal instrumentalities
Official statutory text
The State Treasurer, and the treasurers of counties, school
districts, cities, towns, municipalities and any other political
subdivision of the state, and any other officer, board, department
or commission having custody, control and management of any public
or trust fund or funds charged with the safekeeping and deposit of
said funds or funds are hereby specifically authorized to deposit
said fund or funds in any federally-insured building and loan
association wherever located, whether federally or state chartered,
in an amount and to the extent that such deposit is fully insured by
the Federal Savings and Loan Insurance Corporation or any other
instrumentality of the United States Government. When any such
insured deposit is made it shall not be necessary for such
treasurer, officer, board, department or commission to require any
security, and such insurance shall be accepted in lieu of any
security, restriction or other limitation now required or imposed by
law upon the deposit of public funds.
districts, cities, towns, municipalities and any other political
subdivision of the state, and any other officer, board, department
or commission having custody, control and management of any public
or trust fund or funds charged with the safekeeping and deposit of
said funds or funds are hereby specifically authorized to deposit
said fund or funds in any federally-insured building and loan
association wherever located, whether federally or state chartered,
in an amount and to the extent that such deposit is fully insured by
the Federal Savings and Loan Insurance Corporation or any other
instrumentality of the United States Government. When any such
insured deposit is made it shall not be necessary for such
treasurer, officer, board, department or commission to require any
security, and such insurance shall be accepted in lieu of any
security, restriction or other limitation now required or imposed by
law upon the deposit of public funds.
Status: in_force · Read it on the official government site
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