Pennsylvania Act 1905-131 — STATE DEPOSITORIES, ADDITIONAL SECURITY REQUIRED

Act text

STATE DEPOSITORIES, ADDITIONAL SECURITY REQUIRED
                 Act of Apr. 17, 1905, P.L. 183, No. 131              Cl. 72
                                  AN ACT

     Authorizing the State Treasurer of Pennsylvania to require
        additional security from any bank, banking institution or
        trust company in which the funds of the State are deposited.

        Section 1.  Be it enacted, &c., That the State Treasurer of
     Pennsylvania, in addition to the security now required by law
     from any bank, banking institution or trust company, in which
     the funds of the State are deposited, may require such bank,
     banking institution or trust company, in which the said money
     shall be deposited, to furnish United States Government bonds,
     the bonds of a State, city, county or other municipality, or
     such other bonds as the Board of Revenue Commissioners may
     approve, as collateral security for the funds of the State
     deposited therein.