Okla. Stat. tit. 62, § 62-517.5
This is the official text of Okla. Stat. tit. 62, § 62-517.5, 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.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
Securities and other instruments that may be accepted as
Official statutory text
collateral.
A. For purposes of securing public deposits, the treasurer of a
public entity may accept as collateral only those securities and
other instruments listed below. To insure the safety of public
funds, the treasurer may establish standards which restrict, or
limit further, any of the types or classes of securities or
instruments listed below which may be accepted. Any treasurer of a
public entity may request the State Treasurer to determine the
eligibility of an individual security for pledging under this
section. The treasurer may select the following securities and
instruments for the purpose of securing public deposits:
1. Obligations, including letters of credit of the United
States Government, its agencies and instrumentalities;
2. Obligations of this state or of a county, municipality, or
school district of this state or of an instrumentality of this state
or a county, municipality or school district of this state;
3. General obligation bonds of any other state of the United
States; and
4. A surety bond if:
a. subject to the terms and conditions of the bond, it is
irrevocable and absolute,
Oklahoma Statutes - Title 62. Public Finance Page 447
b. the surety bond is issued by an insurance company
authorized to do business in Oklahoma, and which has
been approved by the State Treasurer,
c. the issuer of the surety bond does not provide surety
bonds for any one financial institution in an amount
that exceeds ten percent (10%) of the surety bond
insurer's policyholders' surplus and contingency
reserve, net of reinsurance, and
d. the claims-paying ability of the authorized insurance
company is rated, at all relevant times, in the
highest category by at least two nationally recognized
rating agencies acceptable to the State Treasurer.
B. A financial institution may substitute different forms of
collateral from time to time, provided that the collateral is
acceptable to the treasurer, and meets the requirements of this
section and the rules of the State Treasurer.
A. For purposes of securing public deposits, the treasurer of a
public entity may accept as collateral only those securities and
other instruments listed below. To insure the safety of public
funds, the treasurer may establish standards which restrict, or
limit further, any of the types or classes of securities or
instruments listed below which may be accepted. Any treasurer of a
public entity may request the State Treasurer to determine the
eligibility of an individual security for pledging under this
section. The treasurer may select the following securities and
instruments for the purpose of securing public deposits:
1. Obligations, including letters of credit of the United
States Government, its agencies and instrumentalities;
2. Obligations of this state or of a county, municipality, or
school district of this state or of an instrumentality of this state
or a county, municipality or school district of this state;
3. General obligation bonds of any other state of the United
States; and
4. A surety bond if:
a. subject to the terms and conditions of the bond, it is
irrevocable and absolute,
Oklahoma Statutes - Title 62. Public Finance Page 447
b. the surety bond is issued by an insurance company
authorized to do business in Oklahoma, and which has
been approved by the State Treasurer,
c. the issuer of the surety bond does not provide surety
bonds for any one financial institution in an amount
that exceeds ten percent (10%) of the surety bond
insurer's policyholders' surplus and contingency
reserve, net of reinsurance, and
d. the claims-paying ability of the authorized insurance
company is rated, at all relevant times, in the
highest category by at least two nationally recognized
rating agencies acceptable to the State Treasurer.
B. A financial institution may substitute different forms of
collateral from time to time, provided that the collateral is
acceptable to the treasurer, and meets the requirements of this
section and the rules of the State Treasurer.
Status: in_force · Read it on the official government site
Need a lawyer in Oklahoma?
Find a Oklahoma lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.