Oklahoma Administrative Code
Title 735 - State Treasurer
Chapter 10 - Security for Public Deposits
Section 735:10-1-4 - Pledge Agreement and Certification of Adoption of [Board of Director's or Loan Committee's] Resolution required to participate in transactions
Current through Vol. 41, No. 13, March 15, 2024
(a) OST will not place funds in excess of the FDIC-insured limit with institutions that have not entered into a "Pledge Agreement for Funds Held on Deposit" (OST Form 95-005) in Appendix A of this Chapter.
(b) The Financial institution wishing to receive state funds must complete the following steps:
(c) Upon the completion of the steps in (b) of this Section, the financial institution will be eligible to receive state funds from the Oklahoma State Treasurer. The financial institution must maintain the Pledge Agreement, the Certification and any transaction under the Pledge Agreement as an official record within the meaning of 12 U.S.C. § 1823 (e), as amended, continuously from the time of its execution.
Added at 13 Ok Reg 1583, eff 4-2-96 (emergency); Added at 13 Ok Reg 3341, eff 7-25-96