§ 6-205. Designations authorized; foreign banks and institutions

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(a) In general. -- Subject to the limitations in this subtitle and in any other law, the Treasurer may designate any financial institution as a depositary for State money.

(b) Foreign banks and institutions. -- The Treasurer may designate foreign banks and similar institutions as depositaries for the purpose of conducting State government activities outside the United States. The deposits in such institutions may not exceed the amount appropriated in the budget for conducting State government activities outside the United States.

HISTORY: An. Code 1957, art. 95, § 21; 1985, ch. 11, § 2; 1988, ch. 519.

                    
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