12C.15  Restriction on requiring collateral.

A local government shall not require a pledge of collateral for that portion of the local government's deposits in a savings and loan or credit union that is covered by insurance of a federal agency or instrumentality.

Section History: Recent form

  84 Acts, ch 1230, § 19

  C85, § 453.15

  92 Acts, ch 1156, § 24

  C93, § 12C.15

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