4-6A-4. Valuation of collateral--Substitution of securities.
41 words·~1 min read·
/sd/title-4/chapter-4-6/4-6a-4A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Securities eligible as collateral shall be valued at face value or market value, whichever is less. A qualified public depository may make substitutions of eligible collateral at any time and shall notify the public deposit protection commission of such change immediately.