Utah Administrative Code
Topic - Money Management Council
Title R628 - Administration
Rule R628-11 - Maximum Amount of Uninsured Public Funds Allowed to be Held by Any Qualified Depository
Section R628-11-6 - Responsibility to Monitor Balances
Universal Citation: UT Admin Code R 628-11-6
Current through Bulletin 2024-06, March 15, 2024
Deposits in qualified depositories which are limited by R628-11-5(B) to the amount of federal deposit insurance must be monitored on a daily basis to assure that no public treasurer has deposit balances in excess of the federal insurance limit. The public treasurer making deposits and the qualified depository accepting deposits shall both be responsible to assure that the depositor's combined balance of all accounts stays within the federal insurance limit.
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