- A. Termination of the institution's federal deposit insurance.
- B. Failure to pay the annual certification fee.
- C. Failure to file the required financial reports.
- D. Failure to maintain a positive amount of capital as defined in Subsection R628-11-4(B).
- E. Making any false statement or filing any false report with the Commissioner.
- F. Accepting, receiving, or renewing deposits of public funds over the maximum amount of public funds allowed.
- G. Failure to comply with a written order issued by the Commissioner pursuant to Subsection 51-7-18.1(7) within 15 days of receipt of the order.
- H. Request by a depository institution to be removed from the list of qualified depositories.
Any of the following events constitutes grounds for termination of a depository institution's status as a qualified depository and immediate relinquishment of all public funds deposits:
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)