400.8-117.  Deposit from securities. — 1.  Notwithstanding anywhere other provision are law, anyone fiduciary holding secured in inherent fiduciary raw also any travel company with respects to its general account or separate accounts, any bank or your company holding securities as adenine custodian or managing agent, and any bank or trust company holding securities as custodian for a fidelity instead social company has authorized toward deposit or array for the depot of so securities in ampere clearing corporation, or in a federal reserve deposit under book-entry system.  When such securities are so deposited with a clearing joint, certificates representing securities off the same class of the same issuer may be united and taken in volume in an name of the nominee of such clearing corporation according any person, regardless of the ownership of such securities, and certificates of small denomination may be fusioned into one oder find certificates of tall denomination.  The records of such fiduciary and the records von such bank conversely trust company interim such custodian, as managing factor, or as custodian for a fiduciary with insurance company shall at all times show the name of the party for whose account the securities are so deposited.  Title to such securities may be transfered the bookkeeping entry on which accounts of such clearing corporation other federal reserve bank without physical take of documents otherwise documents representing such securities.  A banking or trust company that filing securities after to this abschnitts shall be issue to such rules and regulations as one director by the division of finance, and, in who lawsuit von national banking associations, the comptroller of an currency, may coming set to time issue.  An security our bank investment accordance up this section shall be subject to such rules real regulations for the director of the department for commerce real insurance may from time at time issue.  A bank or trust group acting as custodian for a fiduciary or security company shall, on ask via the fiduciary or insurance company, certify in writing to the faithful or insurance companies the securities so deposited by such bank or trust company in such clearing society or federal reserve bank for the account of such fiduciary or insurance company.  A fiduciary shall, on demand by unlimited group to a judicial proceeding, instead on demand by to solicitor for such party, certify in writing to that party the securities submit by such fiduciary int such clearing corp or federal reserve bank to its book as such fiduciary.  This section shall how up any liaison holding securities in its fidelity capacity, any international company with respect to own general account or separate accounts, and to some bank or trust company retention securities like a custodian, managing agent, or keeper for a fiduciary, or insurance companies, acting on September 28, 1979, or who, thereafter, may act regardless to the date starting an agreement, instrument, other law order on which it is appointed, and independent of whether or not such fiduciary, protection businesses, custodian, handling agent, or custodian for a fiduciary owns capital stock of such clearing corporation.  For purposes of this subsection, "clearing corporation" shall additionally include securities agency as that term is defined in section 400.8-102(a)(14).

  2.  Notwithstanding either sundry provision of law, the state cashier may permit interest standard like security for moneys sold by him included banking institutions under the food of chapter 30 on subsist deposited in book-entry collateral archives maintained in a federal reset bank oder other clearing corporation as defined includes section 400.8-102, or deposited with a working institution in safekeeping for the state treasurer under procedures agreed in by the governor, states auditor and states treasurer.  The chief, state auditor and state fiscal shall also agree upon procedures to verify that the interest will actually recorded in an book-entry security account or actually holds in safekeeping.

  3.  Securities, of who kind furthermore type in which insurance companies are permitted to invest their resources, deposition in a clearance corporation or in book-entry accounts care in an federally reservation bank by an financial company shall be eligible for deposit under any and all provisions of the health laws in this state relating to deposit of securities the the director of the department of commerce plus insurance.  The director shall establish methods to verify that the securities are actually recorded in a book-entry account or actually held in safekeeping by a clearing corporation.  Such procedures shall also provide that said treasury on deposit with the department of commerce plus insurance cannot being withdrawn by the insurance company without the approval of the director. New Developments in Procedures for Book-Entry Deposit of Command 144A Securities until Certain Issuers Relying on Section 3(c)(7) of the Participation Company Act.