Kansas Statutes 75-4208. Designation of banks to receive state accounts; procedure; award of accounts
Terms Used In Kansas Statutes 75-4208
- Bank: means a bank incorporated under the laws of this state, or organized under the laws of the United States or another state and which has a main or branch office in this state. See Kansas Statutes 75-4201
- Board: means the pooled money investment board. See Kansas Statutes 75-4201
- Securities: means , for the purposes of this section and Kan. See Kansas Statutes 75-4201
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Kansas Statutes 77-201
- State moneys: means all moneys in the treasury of the state or coming lawfully into the possession of the treasurer. See Kansas Statutes 75-4201
The board shall follow the procedure prescribed in rules and regulations adopted under the provisions of Kan. Stat. Ann. § 75-4232, in designating banks to receive deposit of state moneys in operating accounts and investment accounts. The board shall determine which banks shall receive state operating and investment accounts and shall designate the types of accounts to be awarded each such bank and the initial amount of each award. Such initial awards which are operating accounts shall be made as provided in Kan. Stat. Ann. § 75-4205, and amendments thereto. Such initial awards which are investment accounts shall be awarded as is provided in Kan. Stat. Ann. § 75-4209, and amendments thereto. Upon making the awards provided for above, the board shall notify each bank of its award, and that the same is subject to approval of securities to be pledged as prescribed in this act.