Iowa Administrative Code
Agency 781 - Treasurer of State
Chapter 14 - Deposit and Security of Public Funds in Credit Unions
Rule 781-14.4 - Uninsured Public Deposits in Credit Unions

Universal Citation: IA Admin Code 781-14.4
Current through Register Vol. 47, No. 13, December 25, 2024

Uninsured public deposits in a credit union shall be secured by a letter of credit and a deposit agreement between the public unit and the credit union. (The credit union will only be allowed to aggregate funds deposited by the same public unit. Prior to accepting an uninsured public deposit, a credit union must secure the deposit according to requirements contained in this chapter)

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