Code · Arizona · Title 35 — Public Buildings, Works, and Improvements

35-1205. Authority to make public deposits

69 words·~1 min read·/az/title-35/35-1205

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

A. All public depositors may make public deposits under the depositor's control in eligible depositories. The eligible depository shall secure any uninsured public deposits pursuant to this chapter or in accordance with the procedures prescribed in section 35-323.01.

B. Local officials handling public deposits in this state may not require from an eligible depository any pledge of collateral for the deposits in excess of the requirements of this chapter.