Pennsylvania Act 1988-182 — DEPOSIT OF STATE AND MUNICIPAL FUNDS IN THRIFT INSTITUTIONS

Act text

DEPOSIT OF STATE AND MUNICIPAL FUNDS IN THRIFT INSTITUTIONS
                 Act of Dec. 21, 1988, P.L. 1878, No. 182             Cl. 72
                                  AN ACT

     Permitting deposits of moneys of the Commonwealth and its
        political subdivisions into thrift institutions.

        The General Assembly of the Commonwealth of Pennsylvania
     hereby enacts as follows:

     Section 1.  Eligibility of thrift institutions as depositories.
        All moneys owned or held for any purpose by the Commonwealth
     or any of its political subdivisions may be deposited in any
     savings association, savings bank, Federal savings and loan
     association or Federal savings bank whose principal office is in
     this Commonwealth. Any provision in any law requiring that such
     moneys be deposited in an account that is subject to withdrawal
     by check or otherwise on demand may be satisfied by depositing
     the moneys in an account that is subject to withdrawal by a
     negotiable order of withdrawal.
     Section 2.  Repeals.
        All acts and parts of acts are repealed insofar as they are
     inconsistent with this act.
     Section 3.  Effective date.
        This act shall take effect in 60 days.