in bank, upon its insolvency, 51 A.L.R.
Power of bank or trust company to create trust out of its securities and sell participation certificates therein, 97
(a) A bank may pledge or otherwise grant security interests in its
assets to secure deposits of: (1) Public funds;
(2) Funds of a pension fund for employees of a public body of the
state;
(3) Funds for which a public body of the state or an officer or employee thereof or any court of law is the custodian or trustee
pursuant to statute;
(4) Funds held by the department as receiver;
(5) Funds which are required to be secured by law or by an order
of a court;
(6) Its own fiduciary funds or the fiduciary funds of an affiliate. In
either case, the funds shall be deposited with the pledging institution and held in its commercial department; and
(7) Public funds deposited in another bank.
(b) Except for the deposits listed in subsection (a) of this Code section, a bank may not pledge or otherwise grant security interests in its assets as security for deposits unless otherwise specifically approved in writing by the department.