§ 35-10.1-4 - Substitution of collateral. - Rhode Island Statutes

SECTION 35-10.1-4

   § 35-10.1-4  Substitution of collateral.– A qualified depository institution may substitute insurance or different formsof collateral from time to time without notice to the public depositor or thecommission; provided, that any substitute collateral constitutes eligiblecollateral; and provided, further, that no substitution of insurance orcollateral shall cause the depository institution to cease being a qualifieddepository institution.