39.58.108 - Requirements to become depositary. - Washington Statutes

Requirements to become depositary.

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 securities in an amount established by the commission by rule or noticed resolution.

[2009 c 9 § 10; 1996 c 256 § 13; 1984 c 177 § 17; 1983 c 66 § 15; 1975 1st ex.s. c 77 § 6.]

Notes: Effective date -- 2009 c 9: See note following RCW 39.58.010.

Severability -- 1983 c 66: See note following RCW 39.58.010.