(a) âEligible securityâ means any United States currency eligible security or foreign currency eligible security. (b) For the purposes of this division, the following are United States currency eligible securities: (1) Cash, cash in transit via armored car, cash in smart safes, and cash in licensee-owned locations. (2) Any deposit in an insured bank, an insured savings and loan association, or an insured credit union, including any deposit in an insured bank, an insured savings and loan association, or an insured credit union that is in an account held for the benefit of the licenseeâs customers that is titled â(name of licensee) FBO Its (licenseeâs customers or specific group of licenseeâs customers).â (3) Any bond, note, or other obligation that is issued or is guaranteed by the United States or any agency of the United States. (4) Any bond, note, or other obligation that is issued or guaranteed by any state of the United States or by any governmental agency of or within any state of the United States and that is assigned an eligible rating by an eligible securities rating service. (5) Any bankers acceptance that is eligible for discount by a federal reserve bank. (6) Any commercial paper that is assigned an eligible rating by an eligible rating securities service. (7) Any bond, note, or other obligation that is assigned an eligible rating by an eligible securities rating service. (8) Any share of an investment company that is an open-end management company, that is registered under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1 et seq.), that holds itself out to investors as a money market fund, and that operates in accordance with all provisions of the Investment Company Act of 1940, and the regulations of the Securities and Exchange Commission applicable to money market funds, including Section 270.2a-7 of the regulations of the Securities and Exchange Commission (17 C.F.R. 270.2a-7). For purposes of this paragraph and paragraph (9), âinvestment company,â âmanagement company,â and âopen-endâ have the meanings set forth in Sections 3, 4, and 5, respectively, of the Investment Company Act of 1940 (15 U.S.C. Secs. 80a-4 and 80a-5, respectively). (9) Any share of an investment company that is an open-end management company, that is registered under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1 et seq.), and that invests exclusively in securities that constitute eligible securities that comply with the valuation requirements of this division. (10) Any account due to any licensee from any agent in the United States on account of the receipt of money on behalf of the licensee for money transmission by the agent, if the account is current and not past due or otherwise doubtful of collection. (11) Any other security or class of securities that the commissioner has by regulation or order declared to be eligible securities. (12) Any receivable owed by a bank and resulting from a debit card- or credit card-funded transmission, automated clearinghouse items in transit to the licensee, and automated clearinghouse items or international wires in transit to a payee. (13) The full drawable amount of an irrevocable standby letter of credit for which the stated beneficiary is the commissioner that stipulates that the beneficiary need only draw a sight draft under the letter of credit and present it to obtain funds up to the letter of credit amount within seven days of presentation of the items required by subparagraph (B). (A) The letter of credit described by this paragraph shall meet all of the following criteria: (i) The letter of credit is issued by an insured depository financial institution, a foreign bank that is authorized under federal law to maintain a federal agency or federal branch office in any state, or a foreign bank that is authorized under state law to maintain a branch in a state that bears an eligible rating or whose parent company bears an eligible rating and that is regula
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