1 Va. Admin. Code § 75-20-50
Current through Register Vol. 41, No. 6, November 4, 2024
Section 1VAC75-20-50 - Average daily balance computationA. The average daily balance for any month shall be derived by dividing the sum of the daily balances of any item being computed by the number of calendar days in the month.B. In computing the amount of public deposits and the average balance of public deposits to be collateralized during any month, there shall be excluded the amount of each deposit that is insured by the Federal Deposit Insurance Corporation.1 Va. Admin. Code § 75-20-50
Derived from VR640-02 § 5, eff. November 18, 1993; Amended, Virginia Register Volume 39, Issue 18, eff. 7/1/2023.Statutory Authority: § 2.2-4405 of the Code of Virginia.