SECTION .0300 ‑ ESCROW OF SECURITIES
20 NCAC 07 .0301 ELIGIBLE ESCROW AGENTS
All securities pledged to secure public deposits shall be
(1) with a Federal Reserve Bank or a Federal Home Loan
Bank or a branch thereof pursuant to Rule .0302 of this Section; or
(2) with a national or state-chartered bank which is
not an affiliate of the depository and which has the authority to conduct a
trust business pursuant to Rule .0303 of this Section.
History Note: Authority G. S. 115C‑444(b); 147‑79;
Eff. August 1, 1980;
Readopted Eff. February 1, 1982;
Amended Eff. April 1, 1994.