51A-17-102. Permissible investments described.

The following investments are permissible under § 51A-17-101:

(1)    Cash, including demand deposits, savings deposits, and funds in such accounts held for the benefit of the licensee's customers in a federally-insured depository financial institution, and cash equivalents, including ACH items in transit to the licensee and ACH items or international wires in transit to a payee, cash in transit via armored car, cash in smart safes, cash in licensee-owned locations, debit card or credit card-funded transmission receivables owed by any bank, or money market mutual funds rated "AAA" by S&P, or the equivalent from any eligible rating service;

(2)    Certificates of deposit or senior debt obligations of an insured depository institution, as defined in section 3 of the Federal Deposit Insurance Act, 12 U.S.C. § 1813 (January 1, 2024) or as defined under the federal Credit Union Act, 12 U.S.C. § 1781 (January 1, 2024);

(3)    An obligation of the United States or a commission, agency, or instrumentality thereof; an obligation that is guaranteed fully as to principal and interest by the United States; or an obligation of a state or a governmental subdivision, agency, or instrumentality thereof;

(4)    The full drawable amount of an irrevocable standby letter of credit for which the stated beneficiary is the director that stipulates that the beneficiary need only draw a sight draft under the letter of credit and present it to obtain funds up to the letter of credit amount within seven days of presentation of the items required by § 51A-17-105; and

(5)    One hundred percent of the surety bond or deposit provided for under § 51A-17-100 that exceeds the average daily money transmission liability in this state.

Source: SL 2024, ch 196, § 51.