§ 35-1210 – Procedure for payment of losses
35-1210. Procedure for payment of losses When the administrator determines that an eligible depository securing public deposits in accordance with this section is a defaulting depository, the administrator shall take steps as promptly as practicable to reimburse public depositors of all uninsured public deposits held by the defaulting depository using the following procedures: 1. The […]
§ 35-1211 – Civil penalties; hearing; noncompliance
35-1211. Civil penalties; hearing; noncompliance A. The administrator may assess against and collect the following from an eligible depository for noncompliance with the requirements of this chapter: 1. A civil penalty of not more than two hundred fifty dollars for each day the eligible depository fails to maintain with its qualified escrow agent eligible collateral […]