Examples of State Treasurer in a sentence
In the event of failure of a financial institution, securities pledged by that institution would be liquidated by the State Treasurer to replace the public deposits not covered by the Federal Deposit Insurance Corporation.
Deposits above FDIC coverage are collateralized by the pledging financial institution’s trust department or agent in the name of the Mississippi State Treasurer on behalf of the district.
Under this program, the entity’s funds are protected through a collateral pool administered by the State Treasurer.
The collateral pledged for the school district’s deposits in financial institutions is held in the name of the State Treasurer under a program established by the Mississippi State Legislature and is governed by Section 27-105-5, Miss.
All bank accounts in which the State Treasurer deposits funds as well as certificates of deposit must be collateralized.