17-5-1123 Deposits for security

17-5-1123 . Deposits for security. Whenever under any law of this state a deposit of public obligations is authorized as security, public obligations otherwise meeting the authorized criteria may be deposited and must be accepted as security, provided that: (1) in the case of a certificated public obligation, the instrument is assigned to the holder of the deposit; and (2) in the case of an uncertificated public obligation, registration of a pledge is authorized by the system and the pledge of the uncertificated obligation is registered.