{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-757","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-757","heading":"Moneys in escrow or trust account - Investment - Security","body":"- Sufficiency.\n\nA. Moneys placed in any escrow or trust account shall not\n\nnecessarily be limited to proceeds of refunding bonds but may\n\ninclude other moneys legally available for that purpose.\n\nB. Any moneys in an escrow or trust account, pending use for\n\ntheir intended purpose, may be invested or reinvested only in\n\nfederal securities.\n\nC. The escrow agent shall continuously secure any moneys placed\n\nin an escrow or trust account and not so invested or reinvested in\n\nfederal securities by a pledge of federal securities with a market\n\nvalue determined on a daily basis at least equal to the total\n\nuninvested moneys held in such escrow or trust account in strict\n\naccordance with the provisions of the escrow agreement. The\n\nrequirements of this subsection shall not apply to any said\n\nuninvested moneys insured by the Federal Deposit Insurance\n\nCorporation.\n\nD. Such moneys and investments in the escrow or trust account,\n\ntogether with the interest or other gain to be derived from any such\n\ninvestments, shall at all times be at least sufficient to make all\n\nof the payments required to be made pursuant to the escrow agreement\n\nin the manner and at the times specified in the escrow agreement.\n\nThe computations made in determining such sufficiency shall be\n\nverified by a certified public accountant. Said computations shall\n\nbe certified within five (5) days prior to the delivery of and\n\npayment for the refunded bonds.","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":"37b9f2372e092d9c91d25345d6a9b432806d5aaa5c96340f7632694095ae6571","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-756","next":"us-ok/okla.-stat.-tit.-62-62-758"},"notice":"GroundRules: Original legal text. Not legal advice."}