Arizona Laws 35-1202. Powers of the statewide collateral pool administrator
The statewide collateral pool administrator is established in the office of the state treasurer. On or before July 1, 2014, the administrator shall have the necessary policies and procedures in place to implement this chapter. The administrator may:
Terms Used In Arizona Laws 35-1202
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Administrator: means the statewide collateral pool administrator. See Arizona Laws 35-1201
- Default or insolvency: includes the failure or refusal of any eligible depository to return any public deposit on demand or at maturity and the issuance of an order of supervisory authority restraining that depository from making payments of deposit liabilities or the appointment of a receiver for that depository. See Arizona Laws 35-1201
- including: means not limited to and is not a term of exclusion. See Arizona Laws 1-215
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
1. Adopt and enforce the policies and procedures necessary to carry out this chapter. Any policies set forth by the administrator shall be developed, including a comment period, in consultation with financial institutions that serve as eligible depositories and public depositors.
2. Prescribe and enforce policies fixing the terms and conditions under which uninsured public deposits must be secured by collateral under this chapter.
3. Require any eligible depository to provide information concerning its public deposits as requested by the administrator.
4. Determine when a default or insolvency has occurred and take such action as the administrator may deem advisable for the protection, collection, compromise or settlement of any claim arising in case of default or insolvency.