WVC 12 - 1 - 5
§12-1-5. Limitation on amount of deposits.
The amount of state funds on deposit in any depository in
excess of either the amount insured by an agency of the federal
government or the amount insured by a deposit guaranty bond issued
by a valid bankers surety company acceptable to the treasurer shall
not exceed ninety percent of the value of collateral pledged on the
collaterally secured bond given by the depository. The value of
the collateral shall be determined by the treasurer.
Note: WV Code updated with legislation passed through the 2015 Regular Session
The WV Code Online is an unofficial copy of the annotated WV Code, provided as a convenience. It has NOT been edited for publication, and is not in any way official or authoritative.