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

Current through Rules and Regulations filed through December 24, 2024

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:

(a) In the vault of the investing credit union, or

(b) In safekeeping at any:

1. Federally-insured correspondent bank, credit union or trust company,

2. Federal Reserve or Federal Home Loan Bank,

3. Broker-dealer insured under the Securities Investors Protection Act provided the market value of such securities does not exceed $500,000, or

4. As otherwise specifically approved by the Department.

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

Ga. L. 1974, p. 733.

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

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