Apportionment of funds among banks

§ 5215. Apportionment of funds among banks (a) Except as otherwise provided in this chapter, the Board of Trustees shall deposit postal savings funds received at a postal savings depository office in the banks in that locality, substantially in proportion to the capital and surplus of each bank willing to receive deposits under the terms of this chapter, and the regulations of the Board. (b) If no qualified bank in the locality in which the funds were received at postal savings depository offices is willing to receive deposits of postal savings funds on the terms prescribed, the Board shall deposit the funds in the bank most convenient to the depository office.