{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-517.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-517.5","heading":"Securities and other instruments that may be accepted as","body":"collateral.\n\nA. For purposes of securing public deposits, the treasurer of a\n\npublic entity may accept as collateral only those securities and\n\nother instruments listed below. To insure the safety of public\n\nfunds, the treasurer may establish standards which restrict, or\n\nlimit further, any of the types or classes of securities or\n\ninstruments listed below which may be accepted. Any treasurer of a\n\npublic entity may request the State Treasurer to determine the\n\neligibility of an individual security for pledging under this\n\nsection. The treasurer may select the following securities and\n\ninstruments for the purpose of securing public deposits:\n\n1. Obligations, including letters of credit of the United\n\nStates Government, its agencies and instrumentalities;\n\n2. Obligations of this state or of a county, municipality, or\n\nschool district of this state or of an instrumentality of this state\n\nor a county, municipality or school district of this state;\n\n3. General obligation bonds of any other state of the United\n\nStates; and\n\n4. A surety bond if:\n\na. subject to the terms and conditions of the bond, it is\n\nirrevocable and absolute,\n\nb. the surety bond is issued by an insurance company\n\nauthorized to do business in Oklahoma, and which has\n\nbeen approved by the State Treasurer,\n\nc. the issuer of the surety bond does not provide surety\n\nbonds for any one financial institution in an amount\n\nthat exceeds ten percent (10%) of the surety bond\n\ninsurer's policyholders' surplus and contingency\n\nreserve, net of reinsurance, and\n\nd. the claims-paying ability of the authorized insurance\n\ncompany is rated, at all relevant times, in the\n\nhighest category by at least two nationally recognized\n\nrating agencies acceptable to the State Treasurer.\n\nB. A financial institution may substitute different forms of\n\ncollateral from time to time, provided that the collateral is\n\nacceptable to the treasurer, and meets the requirements of this\n\nsection and the rules of the State Treasurer.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"4c2d3b758d69cba1903de84543720e1f8c872becb90101d216a90a07ce4b8842","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-517.4","next":"us-ok/okla.-stat.-tit.-62-62-517.6"},"notice":"GroundRules: Original legal text. Not legal advice."}