Uninsured public funds definition

Uninsured public funds means any amount of public funds of a public funds depositor on deposit in an account at a financial institution that exceeds the amount of public funds in that account that are insured by the federal deposit insurance corporation or the national credit union administration.
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Uninsured public funds shall have the meaning given to such term in Iowa Code § 12C.1(2)(h), as amended.
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Uninsured public funds means any amount of public funds of a public funds depositor on deposit in an account at a financial institution that exceeds the amount of public funds in that account that are insured by the federal deposit insurance corporation or the national credit union administration.3. A deposit of public funds in a depository pursuant to this chapter shall be secured as follows:a. If a depository is a credit union, then public deposits in the credit union shall be secured pursuant to sections 12C.16 through 12C.19 and sections 12C.23 and 12C.24.b. If a depository is a bank, public deposits in the bank shall be secured pursuant to sections 12C.23A and 12C.24.4. Ambiguities in the application of this section shall be resolved in favor of preventing the loss of public funds on deposit in a depository.[C24, 27, §139, 4319, 5548, 5651, 7404; C31, 35, §7420-d1; C39, §7420.01; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, S81, §453.1; 81 Acts, ch 148, §1; 82 Acts, ch 1202, §1]83 Acts, ch 97, §1, 3; 83 Acts, ch 186, §1014, 10201; 84 Acts, ch 1230, §5; 85 Acts, ch 194, §2; 89 Acts, ch 39, §12; 92 Acts, ch 1156, §20 – 22C93, §12C.193 Acts, ch 48, §3; 97 Acts, ch 185, §5; 99 Acts, ch 117, §1 – 4, 15; 99 Acts, ch 208, §42, 74; 2001 Acts, ch 158, §4; 2001 Acts, 1st Ex, ch 4, §1, 2, 36; 2002 Acts, ch 1096, §1, 2, 17; 2003 Acts, ch 18, §1; 2003 Acts, ch 48, §1; 2003 Acts, ch 179, §58, 84; 2010 Acts, ch 1018, §1, 2; 2010 Acts, ch 1028, §1, 2, 14; 2011 Acts, ch 132, §39, 106; 2012 Acts, ch 1017, §36; 2013 Acts, ch 129, §26; 2019 Acts, ch 24, §5Referred to in §12B.10, 12B.10A, 12B.10C, 12C.7, 12C.8, 12E.2, 16.45, 80.45A, 176A.8, 179.1, 181.1, 183A.1, 184.1, 184A.1, 185.1, 185C.1, 350.6, 468.528, 602.8102(64), 633D.2, 654.17C 12C.2 Approval — requirements.The approval of a financial institution as a depository of public funds for a public body shall be by written resolution or order that shall be entered of record in the minutes of the approving board, and that shall distinctly name each depository approved, and specify the maximum amount that may be kept on deposit in each depository.[C24, 27, §139; C31, 35, §7420-d2; C39, §7420.02; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §453.2]84 Acts, ch 1230, §6C93, §12C.22002 Acts, ch 1096, §3, 17Referred to in §12B.1012C.3 Reserved.
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Examples of Uninsured public funds in a sentence

  • Student/Collegiate organizations actively federated shall pay annual dues as determined by the Board of Directors.

  • As of June 30, 2011, the Agency’s fiduciary accounts were exposed to custodial risk as follows:WellsFund No. Account Name Fargo 1052 Ute Dam Outlets $ 16,487 1053 US Army Corps of Engineers 252,135Total bank balance 268,621Less: FDIC coverage (250,000) Uninsured public funds $ 18,621 Detail of pledged collateral specific to this Agency is unavailable because the bank comingles pledged collateral for all state funds it holds.

  • Differences between included and excluded subjects of the SHeS 1995 and 1998 (Longitudinal analysis Chapter 5) [weighted values] 264Table 31.

  • Powell draws it with an intact 4th quarter bearing ermine, on two bars sable, on each three mullets or [HOPTON, alternative arms], but Farrer records it just as ‘made up of pieces’.Sir John Jermy of Metfield Hall (son of the couple commemorated in no.

  • The Bank of Las Vegas- District & Charter Total of deposit in bank $ 5,494,309Less: FDIC Coverage (108,554) Uninsured public funds 5,385,755 Pledged Collateral held by pledging bank’s trustdepartment or agent but not in the agency’s name (3,431,758) Uninsured and uncollateralized $ 1,953,997 50% pledged collateral requirement per statute $ 2,692,878 Total pledged collateral (3,431,758) Pledged collateral (over) under the requirement $ (738,881) Custodial Credit Risk – Deposits.

  • The Bank of Las Vegas Total of deposit in bank $ 2,453,998Less: FDIC Coverage (250,000) Uninsured public funds 2,203,998 Pledged Collateral held by pledging bank’s trustdepartment or agent but not in the agency’s name ( 2,516,535) Uninsured and uncollateralized $ — 50% pledged collateral requirement per statute $ 1,101,999 Total pledged collateral (2,516,535) Pledged collateral (over) under the requirement $ (1,414,536) Custodial Credit Risk – Deposits.

  • As of June 30, 2015, the Agency’s fiduciary accounts were exposed to custodial risk as follows: Fund No. Account NameWellsFargo1 052 Ute Dam Outlets$ 1 6 ,51 11 053 US Army Corps of Engineers252 ,5081 1 7 8 US Army Corps of Engineers1 1 1 Total bank balance269 ,1 30 Less: FDIC cov erage(250,000) Uninsured public funds$ 1 9 ,1 30 Detail of pledged collateral specific to this Agency is unavailable because the bank comingles pledged collateral for all state funds it holds.

  • As of June 30, 2013, the Agency’s fiduciary accounts were exposed to custodial risk as follows: Fund No. Account NameWellsFargo1052 Ute Dam Outlets$ 16,5001053 US Army Corps of Engineers252,3371178 US Army Corps of Engineers300,000 Total bank balance568,837 Less: FDIC coverage(250,000) Uninsured public funds$ 318,837 Detail of pledged collateral specific to this Agency is unavailable because the bank comingles pledged collateral for all state funds it holds.

Related to Uninsured public funds

  • Applicable Accounting Standards means Generally Accepted Accounting Principles in the United States, International Financial Reporting Standards or such other accounting principles or standards as may apply to the Company’s financial statements under United States federal securities laws from time to time.

  • International Financial Reporting Standards means the accounting standards and interpretations adopted by the International Accounting Standards Board.

  • Central Bank UCITS Regulations means the Central Bank (Supervision and Enforcement)

  • The public means one or more natural or legal persons, and, in accordance with national legislation or practice, their associations, organizations or groups;