Okla. Admin. Code § 735:10-1-5

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

Section 735:10-1-5 - Pledge or provision of collateral required to receive State funds on deposit

Financial institutions accepting State funds on deposit must transfer collateral securities to a safekeeping bank and/or provide collateral instruments to OST prior to receiving said funds. Financial institutions retain a right to substitute and withdraw collateral securities, and collateral instruments if:

(1) the transaction would not reduce the total collateral pledged and provided below the required amounts as established in 735:10-1-3;

(2) the transaction is otherwise in compliance with these rules and regulations; and

(3) if the transaction is approved by the State Treasurer.

Okla. Admin. Code § 735:10-1-5

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