§ 35-310 — Definitions

In this article, unless the context otherwise requires:

1. "Eligible depository" means any commercial or savings bank or savings and loan association with its principal place of business in the United States which is insured by the federal deposit insurance corporation or any successor, or any other insuring instrumentality of the United States, in accordance with the applicable law of the United States or credit union which is insured by the national credit union administration.

2. "Operating monies" means those treasury monies the interest from which is paid to the state general fund.

3. "Permanent endowment funds" means those funds or any part of a fund, established by law, to retain trust monies, not wholly expendable by the beneficiary on a current basis.

4. "Treasury monies" means all monies in the treasury of this state or coming lawfully into the possession or custody of the state treasurer.

5. "Trust monies" means treasury monies, other than operating monies, that are entrusted to the state treasurer for preservation and investment.