Any security which:

1. (1)

   1. (a) Is eligible to be held in book-entry form on the books of the Federal Reserve Book-Entry System; or
   2. (b) Is eligible for deposit in a depository trust clearing system established to hold and transfer securities by computerized book-entry systems; and which

2. (2)

   1. (a) Is held in the name of the State Treasurer or in the name of the State Insurance Commissioner; or
   2. (b) Is pledged to the State Treasurer or to the State Insurance Commissioner; under any state law for any purpose whatsoever, may be held in book-entry form on the books of the Federal Reserve Book-Entry System or on deposit in a depository trust clearing system.

History.--s. 3, ch. 87-331.