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Session Laws, 1985
Volume 760, Page 3327   View pdf image
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HARRY HUGHES, Governor                                      3327

(2) The depository may make changes and substitutions
in and additions to the collateral delivered to a custodian,
subject to the duty of the depository at all times to maintain
the total amount of assets pledged at least in the amount
required for all public deposits secured thereby.

(3) For the purpose of this section, a custodian
means a federal reserve bank, a bank and trust company, a trust
company, or a State or national bank.

(d) Upon request of the State Treasurer, a depository shall
make a report of the total amount of the moneys of the State on
deposit with it and the total amount and market value of
collateral pledged to secure these state moneys. A custodian
shall make a report of the total amount of the collateral of the
depository in its possession to secure State moneys. These
reports shall be made at a time the State Treasurer requests and
given to the State Treasurer or his designate. A depository shall
also make reports when requested to the Comptroller of the
Currency in the case of a national bank, or to the State Bank
Commissioner in the case of a a State banking institution, as they
may require.

Article - State Finance and Procurement

6-202.                                                                                     

Collateral that may be used under this subtitle shall be:

(1) an obligation of the United States or any of its
agencies;

(2) an obligation guaranteed by the United States or
by any of its agencies;

(3) an obligation insured by the United States;

(4) an obligation of the State or any of its units or
instrumentalities;

(5) an obligation of a county of the State or any of
its agencies;

(6) an obligation of a municipal corporation in the
State or any of its agencies;

(7) an obligation of any other governmental authority
in the State;

(8) an obligation of the Inter-America Development
Bank; OR

(9) an obligation of the World Bank[; or

 

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Session Laws, 1985
Volume 760, Page 3327   View pdf image
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