Bill Title: Authorizes the state, local governments and public authorities to arrange for redeposit of moneys through a deposit placement program through a bank or trust company that serves as custodian with respect to the moneys and arranges for the redeposit of the moneys in one or more banking institutions, the monies being secured, provided that the depository receives deposits from customers of other financial institutions that are at least equal to the amount of the moneys so invested.

Spectrum: Partisan Bill (Democrat 4-0)

Status: (Passed) 2012-07-18 - signed chap.128 [A08971 Detail]

Text: Latest bill text (Introduced) [HTML]

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