13-2-103. Federal deposit insurance. (This section is effective 1/1/2020.)
(a) All banks, except special purpose depository institutions, shall obtain insurance of their deposits by the United States and shall subscribe for insurance of deposit accounts by the federal deposit insurance corporation (FDIC).
(b) Nothing in this section shall be construed as prohibiting a special purpose depository institution from obtaining FDIC insurance, if available.
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