(a) (1) On request of the Treasurer, a depositary for State money shall submit to the Treasurer or a designee of the Treasurer a report that states:
(i) the total amount of State money on deposit with the depositary;
(ii) the total amount of collateral and deposit insurance for the money; and
(iii) the market value of the collateral for the money.
(2) Each national banking association that is a depositary for State money shall submit to the Comptroller of the Currency each report for which the Comptroller asks.
(3) Each banking institution that is a depositary for State money shall submit to the Commissioner of Financial Regulation each report for which the Commissioner asks.
(4) Each other bank that is a depositary for State money shall submit to the banking authority for the state where the bank has its principal office each report for which the banking authority of that state asks.
(b) On request of the Treasurer a custodian shall submit to the Treasurer or a designee of the Treasurer a report that states the total amount of collateral that a depositary has with the custodian.
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