Colorado § 11-47-108 Method of securing public deposits

Colorado Statutes

§ 11-47-108 — Method of securing public deposits

Colorado § 11-47-108

Title 11Financial

Art.Protection of Deposits of Public Moneys

This text of Colorado § 11-47-108 (Method of securing public deposits) is published on Counsel Stack Legal Research, covering Colorado primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Colo. Rev. Stat. § 11-47-108 (2026).

Text

(1)Except as provided in section 11-47-112 (6)(a), any eligible public depository shall secure public deposits accepted and held by it by pledging eligible collateral having a market value, at all times, equal to at least one hundred percent of the aggregate of said deposits not insured by the federal deposit insurance corporation or its successor.

(2)The eligible collateral pledged shall be held as specified in section 11-47-109; except that the depository shall be required to furnish each governmental unit whose deposit is so secured with a statement, signed under oath by an executive officer of said depository, certifying to said governmental unit that its deposit is secured in the manner specified in subsection (1) of this section and specifying where the collateral pledged

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(1) Except as provided in
section 11-47-112 (6)(a), any eligible public depository shall secure public deposits
accepted and held by it by pledging eligible collateral having a market value, at all
times, equal to at least one hundred percent of the aggregate of said deposits not
insured by the federal deposit insurance corporation or its successor.

(2) The eligible collateral pledged shall be held as specified in section 11-47-109; except that the depository shall be required to furnish each governmental unit
whose deposit is so secured with a statement, signed under oath by an executive
officer of said depository, certifying to said governmental unit that its deposit is
secured in the manner specified in subsection (1) of this section and specifying
where the collateral pledged is being held in custody.

Legislative History

Source: L. 75: Entire article added, p. 402, � 1, effective July 1. L. 87: (1) amended, p. 469, � 2, effective May 1. L. 2004: Entire section amended, p. 143, � 33, effective July 1.