To allow school districts and intermediate school districts to invest retirement funds, building and site funds, sinking funds, or general funds in a Certificate of Deposit Account Registry Service program, which spreads an investor's funds among as many member institutions as necessary so that no more than $100,000 is invested in any single institution -- thus allowing the investment to be fully covered by the FDIC insurance.
38 Yeas / 0 Nays | |
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Democrat (17 Yeas / 0 Nays) | |
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