RCW 39.58.135
Limitations on deposits.
Notwithstanding RCW 39.58.130, (1) aggregate deposits received by a public depositary from all treasurers and the state treasurer shall not exceed at any time one hundred fifty percent of the value of the depositary's net worth, nor (2) shall the aggregate deposits received by any public depositary exceed thirty percent of the total aggregate deposits of all public treasurers in all depositaries as determined by the commission. However, a public depositary may receive deposits in excess of the limits provided in this section if eligible collateral, as prescribed in RCW 39.58.050, are pledged in an amount equal to one hundred percent of the value of deposits received in excess of the limitations prescribed in this section.
[ 2016 c 152 § 5; 2009 c 9 § 12; 1996 c 256 § 15; 1986 c 25 § 1; 1984 c 177 § 19.]
NOTES:
Effective date—2009 c 9: See note following RCW 39.58.010.
Structure Revised Code of Washington
Title 39 - Public Contracts and Indebtedness
Chapter 39.58 - Public Funds—Deposits and Investments—Public Depositaries.
39.58.020 - Public funds—Protection against loss.
39.58.030 - Public deposit protection commission—State finance committee constitutes—Proceedings.
39.58.040 - General powers of commission.
39.58.050 - Collateral for deposits—Segregation—Eligible securities.
39.58.060 - Loss in a public depositary—Procedure for payment.
39.58.085 - Demand accounts in out-of-state and alien banks—Limitations.
39.58.100 - Reports of public depositaries—Certification by director of financial institutions.
39.58.103 - Notice to commission of reduced net worth.
39.58.105 - Investigation of financial institution applying to become public depositary—Report.
39.58.108 - Requirements to become depositary.
39.58.130 - Investment deposits—Net worth of public depositary.
39.58.135 - Limitations on deposits.
39.58.140 - Liability of treasurers and state treasurer.
39.58.155 - Statewide custodian—Exemption from chapter.
39.58.200 - Public depositary pool—Uniform treatment by commission.
39.58.220 - Commission—Delegation of authority—Exception.
39.58.230 - Liability after merger, takeover, or acquisition.