Washington Code 39.58.020 – Public funds — Protection against loss
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All public funds deposited in public depositaries, including investment deposits and accrued interest thereon, shall be protected against loss, as provided in this chapter.
NOTES:
Severability—1983 c 66: See note following RCW 39.58.010.
Terms Used In Washington Code 39.58.020
- Investment deposits: means time deposits, money market deposit accounts, and savings deposits of public funds available for investment. See Washington Code 39.58.010
- Loss: means the issuance of an order by a regulatory or supervisory authority or a court of competent jurisdiction (a) restraining a public depositary from making payments of deposit liabilities or (b) appointing a receiver for a public depositary;
Washington Code 39.58.010Public funds: means moneys under the control of a treasurer, the state treasurer, or custodian belonging to, or held for the benefit of, the state or any of its political subdivisions, public corporations, municipal corporations, agencies, courts, boards, commissions, or committees, including moneys held as trustee, agent, or bailee belonging to, or held for the benefit of, the state or any of its political subdivisions, public corporations, municipal corporations, agencies, courts, boards, commissions, or committees;
Washington Code 39.58.010