12C.2  Approval--requirements.

The approval of a financial institution as a depository shall be by written resolution or order which shall be entered of record in the minutes of the approving board, and which shall distinctly name each depository approved, and specify the maximum amount which may be kept on deposit in each depository.

Section History: Early form

  [C24, 27, § 139; C31, 35, § 7420-d2; C39, § 7420.02; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 453.2]

Section History: Recent form

  84 Acts, ch 1230, § 6

  C93, § 12C.2


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