Public Finance

CHAPTER 35-10.1
Collateralization of Public Deposits

SECTION 35-10.1-4

§ 35-10.1-4. Substitution of collateral.

A qualified depository institution may substitute insurance or different forms of collateral from time to time without notice to the public depositor or the commission; provided, that any substitute collateral constitutes eligible collateral; and provided, further, that no substitution of insurance or collateral shall cause the depository institution to cease being a qualified depository institution.

History of Section.
(P.L. 1991, ch. 44, art. 74, § 1.)