Public Finance

CHAPTER 35-10.1
Collateralization of Public Deposits

SECTION 35-10.1-6

§ 35-10.1-6 Income from collateral.

The income from assets that constitute segregated collateral shall belong without restriction to the depository institution that pledged the collateral unless and until the assets are transferred to the public depositor or its designee as the result of a default or insolvency of the depository institution.

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