Okla. Admin. Code § 735:10-1-3

Current through Vol. 42, No. 4, November 1, 2024

Section 735:10-1-3 - State funds to be secured with collateral securities and/or collateral instruments

All State funds on deposit with financial institutions shall be secured through the pledge of collateral securities and/or by providing collateral instruments to OST. If a financial institution secures State funds on deposit using collateral securities, the fair market value of the collateral securities pledged must be equal to or in excess of the maintenance percentage. If collateral instruments are used to secure State funds on deposit, the total amount provided must be equal to or greater than the State funds on deposit in excess of the FDIC-insured limit plus interest due at maturity.

Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96; Amended at 15 Ok Reg 2479, eff 4-29-98 (emergency); Amended at 15 Ok Reg 2865, eff 6-25-98

Amended by Oklahoma Register, Volume 33, Issue 24, September 1, 2016, eff. 10/1/2016