Okla. Stat. tit. 62, § 62-511: Security for insured deposits not required

Any custodian of public funds of any kind or character, required

by law to secure proper collateral before depositing public funds in

a bank or trust company, shall hereafter, in depositing public funds

in a bank or trust company whose deposits are insured by the Federal

Deposit Insurance Corporation, be required to secure proper

collateral only for sums deposited in excess of the amount of

deposit insured by such Federal Deposit Insurance Corporation.