(a) A bank may not create a lien on its assets or otherwise secure the repayment of
a deposit, except as authorized or required by this section, other laws of this State,
or federal law.
(b) A bank may pledge its assets to secure a deposit of the government of this State
or any other state, any agency or political subdivision of this State or any other
state, the United States government, any agency or instrumentality of the United States,
or any Indian tribe recognized by the United States government as eligible for the
services provided to Indian tribes by the Secretary of the Interior because of its
status as an Indian tribe.
(c) This section does not prohibit the pledge of assets by a bank to secure the repayment
of money borrowed.
(d) An act, deed, conveyance, pledge, or contract in violation of this section is
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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