Current with changes from the 2024 Legislative Session
Section 2-602 - Storage of physical securities(a) The Treasurer shall deposit in a box or vault as provided in subsection (b) of this section: (1) all of the physical securities that the State owns; and(2) all of the physical securities that, by State law, the Treasurer holds, in trust or otherwise, for a corporation or individual.(b)(1) With the approval of the Board of Public Works, the Treasurer shall procure a box or vault.(2) The box or vault shall be located in the offices of the Treasurer.(3) Each box or vault in which securities are kept shall be built so that 2 different keys are needed to gain access to the securities.(4) The Comptroller and the Treasurer each shall have 1 of these keys.(5) Access to a box or vault in which physical securities are kept under this section shall be permitted only: (i) when the Governor, the Comptroller, the Chief Deputy Comptroller, or a Deputy Comptroller accompanies the Treasurer; or(ii) if access is needed and the Treasurer cannot be present:1. when the Governor, the Comptroller, the Chief Deputy Comptroller, or a Deputy Comptroller accompanies the Chief Deputy Treasurer; or2. when the Governor, the Comptroller, or the Chief Deputy Comptroller accompanies a Deputy Treasurer.(c) The Treasurer shall determine which physical securities are deposited or held in each box or vault.