{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-72.4","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-72.4","heading":"Deposit of collateral securities or instruments","body":"A. The State Treasurer shall require that financial\n\ninstitutions deposit collateral securities or instruments to secure\n\nthe deposits of the state in each such institution. The amount of\n\ncollateral securities or instruments to be pledged for the security\n\nof public deposits shall be established by rules and regulations\n\npromulgated by the State Treasurer consistent with the provisions of\n\nthe Security for Public Deposits Act; provided, such amount shall\n\nnot be less than the amount of the deposit to be secured, less the\n\namount insured.\n\nB. Upon authorization by the State Treasurer, a financial\n\ninstitution shall place required collateral securities in a\n\nrestricted account at a Federal Reserve Bank which serves Oklahoma,\n\na Federal Home Loan Bank which serves Oklahoma or with another\n\nfinancial institution located in this state that is not owned or\n\ncontrolled by the same institution or holding company. The\n\ndepositor shall deliver to the State Treasurer a power of attorney\n\nauthorizing the State Treasurer to transfer or liquidate the\n\nsecurities in the event of a default, financial failure or\n\ninsolvency of a public depository.\n\nC. Securities eligible for collateral shall be valued at market\n\nvalue. The State Treasurer shall review and determine the market\n\nvalue of collateral pledged for security not less than quarterly.\n\nThe State Treasurer shall adopt rules and regulations to provide for\n\nthe valuation of collateral if the market value is not readily\n\ndeterminable. The State Treasurer shall prescribe forms for\n\nfinancial institutions to list collateral securities pursuant to\n\nthis section.\n\nD. The State Treasurer shall promulgate rules for the\n\nacceptance of collateral instruments described in Section 72.5 of\n\nthis title, to secure deposits of the state. Such rules shall\n\nrequire that sufficient documentation exists to establish that the\n\nprovider of the collateral instrument will protect the state in the\n\nevent of a default, financial failure or insolvency of a public\n\ndepository.\n\nE. All securities purchased by the State Treasurer or held in\n\ncustody for other state agencies by the State Treasurer shall be\n\nheld in financial institutions as defined in Section 71 of this\n\ntitle not involved in such transactions and shall not be held by the\n\nState Treasurer or a broker.","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":"582d12c6acdf0d885d38bb0077cc65a36fba4bdb079b46dbf3ac0bfa62f010e3","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-72.3","next":"us-ok/okla.-stat.-tit.-62-62-72.4a"},"notice":"GroundRules: Original legal text. Not legal advice."}