Okla. Stat. tit. 62, § 62-72.4a
This is the official text of Okla. Stat. tit. 62, § 62-72.4a, 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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Public trusts - Restrictions on deposits - Exceptions
Official statutory text
A. To the extent that public trusts that have the state or any
city, town or county as a beneficiary deposit monies in financial
institutions, the public trust shall place its monies only in
collateralized or insured certificates of deposit and other
evidences of deposit. To the extent that public trusts that have
the state as a beneficiary deposit monies in financial institutions,
such trusts may act directly on their own behalf and for their own
account to document, implement and administer the collateralizing of
such deposits, so long as the collateralizing or pledge of assets by
financial institutions is made with the same type of collateral and
in the same manner and form as pledges made to secure deposits by
the State Treasurer under the Security for Public Deposits Act.
Oklahoma Statutes - Title 62. Public Finance Page 298
B. This section shall not be applicable to proceeds or other
funds, including the revenue stream, relating to bond issues which
shall be invested pursuant to the indenture established for such
bonds.
city, town or county as a beneficiary deposit monies in financial
institutions, the public trust shall place its monies only in
collateralized or insured certificates of deposit and other
evidences of deposit. To the extent that public trusts that have
the state as a beneficiary deposit monies in financial institutions,
such trusts may act directly on their own behalf and for their own
account to document, implement and administer the collateralizing of
such deposits, so long as the collateralizing or pledge of assets by
financial institutions is made with the same type of collateral and
in the same manner and form as pledges made to secure deposits by
the State Treasurer under the Security for Public Deposits Act.
Oklahoma Statutes - Title 62. Public Finance Page 298
B. This section shall not be applicable to proceeds or other
funds, including the revenue stream, relating to bond issues which
shall be invested pursuant to the indenture established for such
bonds.
Status: in_force · Read it on the official government site
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