Any custodian of public funds of any kind or character, required by law to secure proper collateral before depositing public funds in a bank or trust company, shall hereafter, in depositing public funds in a bank or trust company whose deposits are insured by the Federal Deposit Insurance Corporation, be required to secure proper collateral only for sums deposited in excess of the amount of deposit insured by such Federal Deposit Insurance Corporation.
Okla. Stat. tit. 62, § 511
Security for insured deposits not required
Added by Laws 1935, p. 107, § 1.
Official source: Oklahoma Legislature. Reproduced from public-domain Oklahoma statutes; confirm against the official source for the current text. Not legal advice.