[§201G-168] Security for funds deposited by the corporation. [Section effective until June 30, 2006. For section effective July 1, 2006, see below.] The corporation may by resolution provide that all moneys deposited by it shall be secured:

(1) By any securities by which funds deposited by the director of finance may be legally secured as provided in section 38-3; or

(2) By an undertaking with sureties as are approved by the corporation faithfully to keep and pay over upon the order of the corporation any deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for such deposits. [L 1997, c 350, pt of §2]

§201G-168 Security for funds deposited by the administration. [Section effective July 1, 2006. For section effective until June 30, 2006, see above.] The administration may by resolution provide that all moneys deposited by it shall be secured:

(1) By any securities by which funds deposited by the director of finance may be legally secured as provided in section 38-3; or

(2) By an undertaking with sureties as are approved by the administration faithfully to keep and pay over upon the order of the administration any deposits and agreed interest thereon, and all banks and trust companies are authorized to give any such security for such deposits. [L 1997, c 350, pt of §2; am L 2005, c 196, §26(a)]

Previous Vol04_Ch0201-0257 Next