{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-72.5","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-72.5","heading":"Securities eligible for securing public deposits","body":"A. For purposes of securing public deposits, the State\n\nTreasurer may accept as collateral only those securities and other\n\ninstruments listed below. To insure the safety of public funds, the\n\nState Treasurer may establish standards which restrict, or limit\n\nfurther, any of the types or classes of securities or instruments\n\nlisted below which may be accepted. The State Treasurer may select\n\nthe following securities and instruments for the purpose of securing\n\npublic 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,\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 each meets the\n\nrequirements of this section and the rules and regulations of the\n\nState 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":"9f2e0c140682486ea76df294b3efaf38386b12d2bf659c7bccc8b63262dd1700","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-72.4a","next":"us-ok/okla.-stat.-tit.-62-62-72.6"},"notice":"GroundRules: Original legal text. Not legal advice."}