This rule establishes the requirements which must be met by a qualified depository as defined in Subsection 51-12-101(6) eligible to receive and hold deposits of public funds. It also establishes the conditions under which eligibility may be terminated and the procedures to be followed in terminating a depository institution's status as a qualified depository.

KEY: public investments, banking law, financial institutions

Date of Last Change: November 7, 2025

Notice of Continuation: January 26, 2026

Authorizing, and Implemented or Interpreted Law: 51-7-3(29); 51-7-18(2)(b); 7-1-102, 103(38)