Washington Code 39.58.100 – Reports of public depositaries — Certification by director of financial institutions
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(1) On or before each commission report due date, each public depositary shall render to the commission a written report, certified under oath, indicating the total amount of public funds on deposit held by it, the uninsured amount of those funds, the net worth of the depositary, and the amount and nature of eligible collateral then segregated for the benefit of the commission.
Terms Used In Washington Code 39.58.100
- Collateral: means the particular assets pledged as security to insure payment or performance of the obligations under this chapter as enumerated in RCW 39. See Washington Code 39.58.010
- Commission: means the Washington public deposit protection commission created under RCW 39. See Washington Code 39.58.010
- Director of the department of financial institutions: means the Washington state director of the department of financial institutions;
Washington Code 39.58.010Oath: A promise to tell the truth. Public depositary: means a financial institution that has been approved by the commission to hold public deposits, and has segregated, for the benefit of the commission, eligible collateral having a value of not less than its maximum liability;
Washington Code 39.58.010Public funds: means moneys under the control of a treasurer, the state treasurer, or custodian belonging to, or held for the benefit of, the state or any of its political subdivisions, public corporations, municipal corporations, agencies, courts, boards, commissions, or committees, including moneys held as trustee, agent, or bailee belonging to, or held for the benefit of, the state or any of its political subdivisions, public corporations, municipal corporations, agencies, courts, boards, commissions, or committees;
Washington Code 39.58.010State public depositary: means a Washington state-chartered financial institution that is authorized as a public depositary under this chapter;
Washington Code 39.58.010
(2) The commission may instruct the director of the department of financial institutions to examine and thereafter certify as to the accuracy of any statement to the commission by any state public depositary, or to provide such other examination report information or data as may be required by the commission. The type, content, and frequency of the reports may be determined by the director of the department of financial institutions, consistent with the requirements of the commission as defined by rule.
NOTES:
Effective date—2009 c 9: See note following RCW 39.58.010.
Severability—1983 c 66: See note following RCW 39.58.010.