The Board will designate one or more banks, savings and loan associations, or trust companies in North Carolina as official depositories of the school district. No money will be deposited in any place other than an official depository, except as permitted by G.S. 115C-443(b), which exception relates only to certificates of deposits or such other forms of time deposits approved by the Local Government Commission.
Legal Reference: G.S. 115C-443, -444
Adopted: January 9, 2006