SEC. 81-14-353. Liquidity.

Savings banks shall maintain cash and readily marketable investments in an amount that may be established in the rules and regulations of the commissioner, but such amount shall not be less than ten percent (10%) of the assets of the savings bank. Upon receipt of a duly certified copy of a resolution by the board of directors of any savings bank requesting a temporary suspension, the commissioner may suspend the liquidity requirement for a period not longer than six (6) months.

SOURCES: Laws, 1992, ch. 489, Sec. 85, eff from and after passage (approved May 8, 1992).

1997 Amendment

Reenacted.

SOURCE: 1997 Laws, Chapter 364, Sec. 87, HB389, Effective July 1, 1997.