Public deposits, depositaries, and fiscal agents.

CFR · 2024-01-01 · US · Title 12

(a) (1) (2) (3) (4) Terms in paragraph (b) of this section have the meanings they have under applicable state law. (b) (2) If state law requires as a condition of such deposit or investment that the Federal savings association or its bond or security, or any combination thereof, be surety for or with respect to other deposits or instruments, whether of that depositor or investor or of any other(s), and whether in the Federal savings association or in any other institution(s) having, when the investments or deposits were made, insurance by the Federal Deposit Insurance Corporation, the same shall become, or if the state law is self-executing shall be, such surety. (c)

official document · source cfr-2024 · id 12:§ 145.16