17-5-1123. Deposits for security. Whenever under any law of this state a deposit of public obligations is authorized as security, public obligations otherwise meeting the authorized criteria may be deposited and must be accepted as security, provided that:
(1) in the case of a certificated public obligation, the instrument is assigned to the holder of the deposit; and
(2) in the case of an uncertificated public obligation, registration of a pledge is authorized by the system and the pledge of the uncertificated obligation is registered.
History: En. Sec. 11, Ch. 364, L. 1983.
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