Any financial institution may become, and thereafter operate as, a public depositary upon approval by the commission and segregation of collateral in the manner as set forth in this chapter, and subject to compliance with all rules and policies adopted by the commission. A public depositary shall at all times pledge and segregate eligible collateral in an amount established by the commission by rule or noticed resolution.
RCW 39.58.108
Requirements to become depositary.
2016 c 152 s 4; 2009 c 9 s 10; 1996 c 256 s 13; 1984 c 177 s 17; 1983 c 66 s 15; 1975 1st ex.s. c 77 s 6.
Official source: Washington State Legislature. Reproduced from public-domain Washington statutes; confirm against the official source for the current text. Not legal advice.