Any state or national bank or any state or federal savings and loan association in this state shall, upon request made to the State Treasurer, be designated as an eligible depository for interest earning deposits of state funds if such bank or state or federal savings and loan association meets the requirements set forth in this chapter. For purposes of this article, the term "interest earning deposits" includes certificates of deposit or other financial institution products. The State Treasurer shall make and apportion such interest earning deposits and shall prescribe the interest rates, terms and conditions of deposits, all in accordance with the provisions of articles six and six-c of this chapter: Provided, That state or federal savings and loan associations insured by an agency of the federal government shall be eligible for such deposits not in excess of the amount insured by any agency of the federal government.
Structure West Virginia Code
Chapter 12. Public Moneys and Securities
§12-1-1. Legislative Findings and Purpose
§12-1-3. Depositories for Interest Earning Deposits; Qualifications
§12-1-4. Bonds to Be Given by Depositories
§12-1-5. Limitation on Amount on Deposit; Rules
§12-1-6. Unlawful Acceptance of Deposits by Depositories
§12-1-7. Rules; Banking Contracts and Agreements; Depositors; Agreements
§12-1-9. Transfer of Funds by Check or Electronic Funds Transfer; Requirements
§12-1-11. Reports by Depositories to Treasurer; Discontinuance of Depositories
§12-1-12. Investing Funds in Treasury; Depositories Outside the State
§12-1-12a. Investment of Operating Funds for Cash Flow Needs
§12-1-12b. Cash Management Improvement Act; Administration; Reports
§12-1-12e. Investments by State Colleges
§12-1-13. Payment of Banking Services and Litigation Costs for Prior Investment Losses