In addition to other requirements specified by the SAFE Program, each QPD shall:
- (1) Administer internal and external audit review for compliance with SAFE Program Rules and statutes to ensure that applicable accounts maintained for public entities and public officials are adequately identified as public deposits on its record by name, address, and federal employer identification number.
- (2) Annually, prior to November 1st, provide a report as of the last business day of September to each public depositor that summarizes their deposit account relationship. This report shall be in addition to regular statements and shall include an indication to public depositors the purpose of the report and a listing of accounts designated as public deposits subject to the SAFE Program. The report shall be deemed correct unless the public depositor notifies the depository to the contrary within 60 calendar days of receipt of the statement.
- (3) Submit to SAFE via the SAFE WEB internet reporting system a monthly report in the format prescribed by the Treasurer and by the date specified.
- (4) Upon request, submit to the Treasurer financial or regulatory reports or public deposit verifications in a manner required by the Treasurer.
- (5) Upon request, provide a quarterly listing of the ratings for securities pledged to SAFE from an acceptable third party source in the manner prescribed by the Treasurer.
(6) Permit, during office hours, the Treasurer to inspect, verify, and review all documents, reports, records and all other financial information deemed necessary by the Treasurer to verify compliance with the SAFE Program.
- (a) Inform the Treasurer of QPD information that is required by SAFE that is confidential by any law of the United States or of this state.
Author: Daria S. Story, SAFE Division, Office of State Treasurer
Statutory Authority: Code of Ala. 1975, §§41-14A-3, 41-14A-5, 41-14A-6, 41-14A-8, as amended.
Editor’s Note: Rule 892-X-1-.09, was renumbered to Rule 892-X-1-.08 as per certification filed September 19, 2002; effective October 24, 2002.
History: New Rule: Filed March 28, 2001; effective May 2, 2001. Amended: Filed September 19, 2002; effective October 24, 2002. Amended: January 19, 2006; effective February 23 2006. Amended: Filed August 20, 2008; effective September 24, 2008. Amended: Filed October 3, 2011; effective November 7, 2011.