Specifications include, but are not limited to: In order to be placed on RWU’s bid list for CD Placement, banks must meet the following requirements and provide the following information: 1. The bank must in a safe and sound financial condition. 2. The bank must be an institution eligible to receive public funds included on the annual list maintained by the Arkansas State Bank Commissioner pursuant to Ark. Code. Ann. § 19-8-105. 3. The bank must be a member of the Federal Deposit Insurance Corporation (FDIC). 4. The bank must be a registered member of the Certificate of Deposit Registry Service (CDARS) and listed by CDARS as a participant in the CDARS program. 5. The bank must meet the requirements of Ark. Code. Ann. § 19-8-111. 6. The bank must meet the requirements of any other applicable law for depositories of public funds. 7. The bank should provide information about its customer service, office and branch locations, bank employees who would service the account, and other information regarding the bank’s ability to provide services to RWU.
