Washington § 39.58.108 Requirements to become depositary.

Washington Statutes

§ 39.58.108 — Requirements to become depositary.

Washington § 39.58.108

Title 39PUBLIC CONTRACTS AND INDEBTEDNESS

Ch. 39.58PUBLIC FUNDS—DEPOSITS AND INVESTMENTS—PUBLIC DEPOSITARIES

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Bluebook

Wash. Rev. Code § 39.58.108 (2026).

Text

Any financial institution may become, and thereafter operate as, a public depositary upon approval by the commission and segregation of collateral in the manner as set forth in this chapter, and subject to compliance with all rules and policies adopted by the commission. A public depositary shall at all times pledge and segregate eligible collateral in an amount established by the commission by rule or noticed resolution.

Effective date — 2009 c 9: See note following RCW 39.58.010 .

Severability — 1983 c 66: See note following RCW 39.58.010 .

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Any financial institution may become, and thereafter operate as, a public depositary upon approval by the commission and segregation of collateral in the manner as set forth in this chapter, and subject to compliance with all rules and policies adopted by the commission. A public depositary shall at all times pledge and segregate eligible collateral in an amount established by the commission by rule or noticed resolution.

Effective date — 2009 c 9: See note following RCW 39.58.010 .

Severability — 1983 c 66: See note following RCW 39.58.010 .