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WACs > Title 389 > Chapter 389-12 > Section 389-12-030
389-12-020
389-12-035
Agency filings affecting this section
WAC 389-12-030
New public depositaries.
Any financial institution in the state of Washington eligible under the act, in order to become a public depositary, must be approved by the commission and segregate collateral in the manner as set forth in these rules prior to the receipt of public deposits. Until such time as public depositaries have submitted four consecutive commission reports to the commission as required by RCW 39.58.100, they shall at all times be required to pledge and segregate eligible securities, valued at market value, in an amount equal to not less than 10% of uninsured public funds on deposit in said depositary, or such other sum or measure established by the commission by rule or noticed resolution.
[Statutory Authority: Chapter 39.58 RCW and RCW 39.58.040. WSR 09-16-010, § 389-12-030, filed 7/23/09, effective 8/23/09; WSR 99-20-082, § 389-12-030, filed 10/5/99, effective 11/5/99. Statutory Authority: RCW 39.58.040. WSR 84-21-036 (Order 84-II, Resolution No. 84-004), § 389-12-030, filed 10/11/84; WSR 84-03-037 (Order 84-01), § 389-12-030, filed 1/13/84; Order 77-XIII, § 389-12-030, filed 9/27/77; Order II, § 389-12-030, filed 6/13/73; Order 1, § 389-12-030, filed 2/9/70.]
