OST CD Operating Agreement
Page 1
Revised 04/27/07
Oklahoma State Treasurer
Certificate of Deposit Operating Agreement
1. Purpose: This agreement between the Oklahoma State Treasurer’s Office (OST) and the
Bank or Savings and Loan (Bank) or Credit Union (Bank) listed below applies to the placing,
from time to time by OST, of collateralized time deposits, commonly known as Certificate of
Deposit (CDs) with Bank. It shall constitute a continuing agreement until cancelled in
writing by either party with thirty (30) days’ notice.
Bank Name: ________________________________ Rtg #: ________________________
Address:
________________________________
Address:
________________________________ Phone: ( ) ___________________
City, State:
________________________________ Fax: ( ) ___________________
Zip:
________________________________
2. Definitions:
a. “Account” means a bank account owned by the Bank through which all principal and
interest related to Certificates of Deposit will move.
b. “Cancellation” means when a Bank requests that an existing General Fund CD not be
Renewed (See par. 10 below).
c. “Certificate of Deposit” or “CD” means the placement of funds by OST with the Bank
under this Agreement which contains the promise by the Bank to pay interest to OST
and to repay the principal sum of money to OST on the Maturity Date.
d. “Commitment Date” means the day that OST and the Bank agree on the terms of a CD.
e. “Duration” means the number of days between the Issue Date and the Maturity Date.
f. “General Fund CD” means a Certificate of Deposit placed with a State Bank at
competitive market rates, in which the interest earned from these deposits is returned to
the State’s General Fund.
g. “Issue Date” means the day funds are actually transferred from OST to the Bank.
h. “Linked Deposit Program” means the statutorily authorized programs administered by
OST that is divided into three programs: The Agricultural Linked Deposit Program (2