Utah Administrative Code (Current through November 1, 2019) |
R628. Money, Management Council |
R628-12. Certification of Qualified Depositories for Public Funds |
R628-12-3. Purpose
Latest version.
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This rule establishes the requirements which must be met by a federally insured depository institution to become and remain a qualified depository eligible to receive and hold deposits of public funds. It also establishes the conditions under which eligibility may be terminated and the procedures to be followed in terminating a depository institution's status as a qualified depository.