Default

"Default" may include, but is not limited to: (1) The failure of any state depository to return any state deposit, including earned interest, in accordance with the terms of the deposit contract; (2) The failure of any state depository to pay any check, draft or warrant drawn by the state treasurer; (3) The failure of any state depository to honor any request for electronic transfer of funds to the state; (4) The failure of any state depository to account for any check, draft, warrant, order, deposit certificate or money entrusted to it by the state; (5) The issuance of any order of any court or the taking of any formal action by any supervisory authority, which has the effect of restraining a state depository from making payments of deposit liabilities; (6) The appointment of a receiver for a state depository; or (7) Any other action which the state treasurer determines to place state deposits in jeopardy. Acts 1985, ch. 118, § 14. "Default" may include, but is not limited to: (1) The failure of any state depository to return any state deposit, including earned interest, in accordance with the terms of the deposit contract; (2) The failure of any state depository to pay any check, draft or warrant drawn by the state treasurer; (3) The failure of any state depository to honor any request for electronic transfer of funds to the state; (4) The failure of any state depository to account for any check, draft, warrant, order, deposit certificate or money entrusted to it by the state; (5) The issuance of any order of any court or the taking of any formal action by any supervisory authority, which has the effect of restraining a state depository from making payments of deposit liabilities; (6) The appointment of a receiver for a state depository; or (7) Any other action which the state treasurer determines to place state deposits in jeopardy. Acts 1985, ch. 118, § 14.