Current through Register Vol. 54, No. 49, December 7, 2024
Section 151.6 - Valuation of United States government obligations as collateralUnited States government interest-bearing obligations and negotiable bonds for the United States deposited with the Board as collateral for a surety bond of a milk dealer or as alternate security under sections 9(b) and 10(2) of the Milk Producers' and Cooperative Security Funds Act (31 P. S. § § 625.9(b) and 625.10(2)) (Repealed) shall have their value determined in the following manner:
(1) The valuation shall be determined by the market quotation listed in the Wall Street Journal on the first day of each calendar quarter.(2) Valuation of the security shall be reviewed quarterly and adjusted in accordance with the latest quotation. When the valuation indicates that the collateral posted with the bond is worth less than the amount of the bond, the Board may require that additional collateral be posted within 15 days. When the valuation indicates that the collateral posted with the bond is worth more than the amount of the bond, the Board upon request will return the portion of the collateral as will not reduce the collateral held by the Board below the amount of the bond.The provisions of this § 151.6 adopted October 17, 1980, effective 10/18/1980, 10 Pa.B. 4094.