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151 CHAPTER XV DEPOSIT AND INVESTMENT OF FUNDSDESIGNATION OF DEPOSITORIES Definition of Financial Institution A depository is a financial institution designated as a depository of public funds. A
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Deposit and investment of refer to the act of placing money or assets into a bank or financial institution to earn interest or profit.
Individuals, businesses, and organizations who have deposited funds or made investments are required to file deposit and investment reports.
To fill out a deposit and investment report, one must provide information about the amount deposited or invested, the financial institution or entity where the funds were deposited, and any returns or earnings.
The purpose of deposit and investment reports is to track and monitor the movement of funds, ensure compliance with financial regulations, and assess the performance of investments.
Information that must be reported on deposit and investment reports includes details of the deposits or investments, the financial institution or entity involved, any returns or earnings, and any related agreements or contracts.
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