Kansas HB2152 mandates financial institutions to secure governmental unit deposits exceeding FDIC insurance by using a public moneys pooled method.
Kansas HB2152 allows financial institutions to secure governmental unit deposits exceeding FDIC insurance through a public moneys pooled method of securities. It prohibits investment advisers who execute bids for public moneys from managing moneys directly from those bids. The bill permits governmental units to invest their deposits at rates agreed upon with financial institutions.
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- Legal Framework
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