10-629. Bonds pledgeable as a security for public deposits.
10-629
10-629. Bonds pledgeable as a security for public deposits.
Whenever any bond is authorized to be pledged as a security
under K.S.A. 9-1402 et seq. or 75-4201 et seq., and amendments thereto,
or under any other statute of this state, such bond shall be accepted as
a security under such
statute if (a) in the case of a certificated bond, it is assigned, delivered
or pledged to the holder of the deposit for security in accordance with
the provisions of such statutes; (b) in the case of an uncertificated bond,
registration of a pledge of the bond is authorized by the system and the
pledge of the uncertificated bond is registered; or (c) in a form approved
by the attorney general, which assures the availability of the bond proceeds
pledged as a security for public deposits.
History: L. 1983, ch. 49, § 10; May 12.