Louisiana Revised Statutes 23:1168.5 – The monies collected by the assistant secretary shall be deposit
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Terms Used In Louisiana Revised Statutes 23:1168.5
- National Bank: A bank that is subject to the supervision of the Comptroller of the Currency. The Office of the Comptroller of the Currency is a bureau of the U.S. Treasury Department. A national bank can be recognized because it must have "national" or "national association" in its name. Source: OCC
The monies collected by the assistant secretary shall be deposited in one or more state or national banks, savings banks, trust companies, or savings and loan associations chartered to do business in this state. Any depository so selected shall provide the same security for such deposits as that required for the deposit of state funds pursuant to the provisions of La. Rev. Stat. 49:321. The assistant secretary r may in his discretion deposit such monies or any part thereof in a national bank or trust company as a trust fund. For the purposes of this Section, the assistant secretary shall be considered a “depositing authority” pursuant to La. Rev. Stat. 49:321.
Acts 2006, No. 49, §1, eff. May 16, 2006.