A bank, capital stock financial institution, or qualifying mutual financial institution
which has furnished securities pursuant to the Public Funds Deposit Security Act may
withdraw all or any part of such securities upon repayment to the custodial official
of the amount of the securities thus withdrawn, and thereupon the custodial official
shall be empowered to assign such securities to the owner thereof. All interest coupons attached to securities furnished under the act shall be detached
by the holder or trustee thirty days before maturity and returned to such bank, capital
stock financial institution, or qualifying mutual financial institution.
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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