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12c-20
12C.20 PUBLIC FUNDS REPORTS.
1. On or before the tenth day of February, May, August, and
November of each year, each savings and loan and each out-of-state
bank that has one or more branches in the state shall calculate and
certify to the superintendent of banking in the form prescribed by
the superintendent the amount of public funds on deposit at the
savings and loan and at each such branch of the out-of-state bank as
of the end of the previous calendar quarter.
2. A bank shall, upon request of the superintendent, certify to
the superintendent the amount of public funds on deposit at the bank
and at each branch of an out-of-state bank on any day specified by
the superintendent in such request.
3. The superintendent may at any time make such investigation as
the superintendent deems necessary and appropriate to verify the
information provided to the superintendent pursuant to subsections 1
and 2.
4. On or before the twentieth day of February, May, August, and
November of each year, the superintendent shall notify the treasurer
of state of the amount of collateral required to be pledged as of the
end of the previous calendar quarter based upon the certification
provided to the superintendent under subsection 1 or 2 and a review
by the superintendent of the quarterly call report filed by each bank
that is not a savings and loan or an out-of-state bank. Section History: Recent Form
2002 Acts, ch 1096, §7, 17
