§ 35.15 DEPOSITORIES DESIGNATED; DEPOSIT OF FUNDS.

(A) Depositories; funds. All banks and all savings and loan associations in the town which are incorporated under federal or state law are hereby designated as depositories for the funds of the town. The Town Clerk-Treasurer shall deposit daily all public funds received by him or her in such banks or savings and loan associations.

(B) Funds secured. The deposits of the town shall be secured by the Security for Local Public Deposits Act, being 62 O.S. §§ 517.1 et seq.

(Prior Code, § 3-1-1)

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