(a) Subject to the conditions and limitations provided in §§ 19-3-508 -- 19-3-517, a bank or savings and loan association may be designated as a bank depository.
(b)
(1) A bank or savings and loan association is not required to act as a bank depository.
(2) However, the acceptance of a deposit of State Treasury funds requires a bank depository to observe §§ 19-3-508 -- 19-3-517.
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