Maximum amount of deposits and investments - Protection of State Treasury funds
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AR Code › Title 19 › Chapter 3 › Subchapter 5 › Section 19-3-509
Text
(a) The maximum amount of moneys and securities from the State Treasury held by a bank depository shall not exceed an amount equal to the total amount of the capital base of the bank depository. (b) An investment depository and a securities broker shall provide the Treasurer of State and State Board of Finance proof of: (1) Securities investor protection coverage for each investment of State Treasury funds; and (2) Compliance with fidelity bond requirements of the United States Securities and Exchange Commission. Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013. Acts 1997, No. 847, § 1.
(a) The maximum amount of moneys and securities from the State Treasury held by a bank depository shall not exceed an amount equal to the total amount of the capital base of the bank depository.
(b) An investment depository and a securities broker shall provide the Treasurer of State and State Board of Finance proof of: (1) Securities investor protection coverage for each investment of State Treasury funds; and (2) Compliance with fidelity bond requirements of the United States Securities and Exchange Commission.
(1) Securities investor protection coverage for each investment of State Treasury funds; and
(2) Compliance with fidelity bond requirements of the United States Securities and Exchange Commission.
Amended by Act 2013, No. 1088,§ 2, eff. 8/16/2013.
Acts 1997, No. 847, § 1.
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