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SB 813 - Under current law, political subdivisions and other public entities may invest certain funds in certificates of deposits. This act provides that the funds may be deposited in deposit accounts rather than in certificates of deposits. Current law also provides that the financial institution receive the same amount of deposits from customers of other financial institutions at the same time the public funds are deposited and the certificates of deposit are issued. This act requires the financial institution to receive the same amount of deposits on the same date the public funds are deposited. This act is identical to HB 1400 (2012). MEGHAN LUECKE
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