Ga. Comp. R. & Regs. r. 80-2-9-.03 – Custody and Safekeeping | Midpage

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Georgia Rules and Regulations (Ga. Comp. R. & Regs.)

80-2-9-.03

Ga. Comp. R. & Regs. r. 80-2-9-.03

Custody and Safekeeping

Effective Jul 27, 1994Published Jul 7, 1994Ga. L. 1974, p. 733.RULES OF DEPARTMENT OF BANKING AND FINANCE

Rule 80-2-9-.03. Custody and Safekeeping

Rule 80-2-9-.03. Custody and Safekeeping

(1) Securities may be held in physical or book entry form.
(2) Physical possession of securities shall be maintained:
1. (a) In the vault of the investing credit union, or
2. (b) In safekeeping at any:
  1. 1. Federally-insured correspondent bank, credit union or trust company,
  2. 2. Federal Reserve or Federal Home Loan Bank,
  3. 3. Broker-dealer insured under the Securities Investors Protection Act provided the market value of such securities does not exceed $500,000, or
  4. 4. As otherwise specifically approved by the Department.

Authority: Ga. L. 1974, p. 733.

History. Original Rule entitled "Custody and Safekeeping" adopted. F. Oct. 12, 1989; eff. Nov. 1, 1989.

Amended: F. Jul. 7, 1994; eff. July 27, 1994.