§ 39.58.135. Limitations on deposits
*** CHANGE IN 2009 *** (SEE 2061-S.SL) ***
Notwithstanding RCW 39.58.130, (1) aggregate deposits received by a public depositary from all public treasurers shall not exceed at any time one hundred fifty percent of the value of the depositary's net worth, nor (2) shall the aggregate deposits received by any public depositary exceed thirty percent of the total aggregate deposits of all public treasurers in all depositaries as determined by the public deposit protection commission. However, a public depositary may receive deposits in excess of the limits provided in this section if eligible securities, as prescribed in RCW 39.58.050, are pledged as collateral in an amount equal to one hundred percent of the value of deposits received in excess of the limitations prescribed in this section.
[1996 c 256 § 15; 1986 c 25 § 1; 1984 c 177 § 19.]
Sections: Previous 39.58.065 39.58.070 39.58.080 39.58.085 39.58.090 39.58.100 39.58.103 39.58.105 39.58.108 39.58.120 39.58.130 39.58.135 39.58.140 39.58.155 39.58.750 NextLast modified: April 7, 2009