TITLE 39. PUBLIC FINANCE

SUBTITLE II. LOCAL FINANCE

CHAPTER 7. LOCAL DEPOSITORIES

PART I. GENERAL PROVISIONS

39:1225      Security for deposits; amount of security

 The amount of the security shall at all times be equal to one hundred percent of the amount of collected funds on deposit to the credit of each depositing authority except that portion of the deposits insured by any governmental agency insuring bank deposits which is organized under the laws of the United States.

Amended by Acts 1995, No. 1126, § 3, eff. June 29, 1995.