§ 19-13-3 - Segregation of new cash deposits.
SECTION 19-13-3
§ 19-13-3 Segregation of new cashdeposits. – Cash deposits, called "new cash deposits," received by any regulatedinstitution after an order of the director issued under the provisions of thischapter suspending or restricting withdrawals of currency from that regulatedinstitution, and while the order remains in force either in whole or in part,shall not be subject, by reason of the order, to any limitation or restrictionas to payment or withdrawal in currency or otherwise, and shall be segregatedand held or invested and used solely to meet the new cash deposit liability;provided, however, that the aggregate amount of cash representing thosedeposits shall be kept separately in cash, or on deposit in federal reservebanks, or invested in obligations of the United States, or as may otherwise beauthorized from time to time by order of the secretary of the treasury of theUnited States or other constituted federal authority.