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Section 9-4-825 - Joint Custody Agreement for Securing Local Deposits; Banks Authorized to Receive Collateral.

WY Stat § 9-4-825 (2019) (N/A)
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9-4-825. Joint custody agreement for securing local deposits; banks authorized to receive collateral.

Any properly designated depository of the public funds of the state or any political subdivision thereof, and any treasurer of any proper governing board may agree, as an alternate method of securing the deposit of public funds, to place the collateral security in any financial institution, as defined in W.S. 13-1-101(a)(ix) and other than the depository bank, chartered as a state bank or in any national bank other than the depository bank, in any federal reserve bank or branch thereof, in any bank which is a member of the federal reserve system or in any government-sponsored enterprise. The financial institution receiving the collateral security shall be known as the custodian.

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Section 9-4-826 - Joint Custody Agreement for Securing Local Deposits; Placement of Security With Custodian; Receipt as Evidence of Deposit.