6-273. Form of reserves; limitations
Legal reserves shall consist of:
1. Cash.
2. Cash items in the process of collection payable immediately upon presentation in
the United States.
3. Unpledged obligations of the United States maturing not more than six months
from the date such obligation is used for reserve purposes at par.
4. Net deposit balances with each reserve depository in this state, exclusive of
deposits not payable on demand unless evidenced by a negotiable certificate of deposit
maturing not more than six months from the date the certificate is used for reserve
purposes.
5. Net deposit balances with each out-of-state reserve depository, exclusive of
deposits not payable on demand unless evidenced by a negotiable certificate of deposit
maturing not more than six months from the date the certificate is used for reserve
purposes, in an amount either approved by the superintendent in writing or not more than
the amount fully insured by the federal deposit insurance corporation or the national
credit union administration or any successor agency.
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