Code of Alabama - Title 41: State Government - Chapter 14 - State Funds Generally
- Article 1 State Depositaries.
- Section 41-14-1 Designation of state depositaries
The Governor may designate any bank or savings association which is a qualified public depositary under Chapter 14A of this title as a state depositary...
- Section 41-14-2 Application for designation action upon default or insolvency
Before any bank or savings association shall be designated as a state depositary, it shall be designated as a qualified public depository under Chapter 14A...
- Section 41-14-3 Certification by Treasurer; order by Governor
Upon the filing of such application with the State Treasurer, the Treasurer shall certify to the Governor the fact of such application and the sworn...
- Section 41-14-4 Transfer or removal of state funds to or from state depositary
The state may pay any state depositary for the transfer or removal of funds to or from the state depositary, item handling charges, and for...
- Section 41-14-5 State or county officers may deposit state funds in depositaries; maximum amount of state funds which depositaries may receive, etc
Any state or county officer in this state having in his possession or under his control funds or moneys belonging to the state may place...
- Section 41-14-7 Depositaries to give receipts to officers making deposits; disposition of copies of receipts, etc
Each state depositary shall give to the officer placing funds or moneys therein to the credit of the Treasurer a receipt therefor in duplicate, and...
- Section 41-14-8 Depositaries to report daily deposits to Treasurer; monthly statements of balance in depositaries to be made to Treasurer, Governor, etc
Each state depositary shall report in writing at the close of each business day to the Treasurer the total amount of all sums placed therein...
- Section 41-14-9 Sale of bonds, etc., deposited as security upon failure of depositary to pay check, etc., of treasurer or account for state funds generally
Repealed effective January 1, 2001, by Act 2000-748, §3.
- Section 41-14-10 Sale passes title to bonds to purchaser; registration of bonds in name of purchaser
THIS SECTION WAS REPEALED BY ACT 2000-748, 2000 REGULAR SESSION, EFFECTIVE JANUARY 1, 2001.
- Section 41-14-11 Notice of intent to surrender designation
Before any voluntary surrender of its designation as a state depository, any bank or savings association shall give at least 30 days' notice to the...
- Section 41-14-12 Withdrawal of bonds, securities, etc., by bank or trust company ceasing, etc., to act as state depositary
THIS SECTION WAS REPEALED BY ACT 2000-748, 2000 REGULAR SESSION, EFFECTIVE JANUARY 1, 2001.
- Section 41-14-13 Deposit of state funds in depositaries by state or county officers not required by article
Nothing in this article shall be construed as requiring county or state officers to place state funds in state depositaries, and they may pay such...
- Section 41-14-14 Treasurer may deposit funds received from state or county officers in state depositaries
The Treasurer, by and with the approval of the Governor, may place all funds or any part thereof paid to him by county or state...
- Section 41-14-15 Governor, Treasurer, etc., to establish regulations and collection methods for transaction of business with state depositaries
The Governor, the Department of Finance and the Treasurer are authorized to establish such regulations and collection methods not inconsistent with the provisions of this...
- Section 41-14-16 Penalties for violations of provisions of article
Any state or county officer, or state depositary or agent thereof, who shall violate any of the provisions of this article shall be guilty of...
- Article 2 Deposit of State Funds.
- Section 41-14-30 Deposit of funds in qualified public depositories; types of investments
(a) The State Treasurer may deposit the money of the state in any available bank product in any bank or savings association that is a...
- Section 41-14-31 Maintenance of money for current operational expenses; apportionment of demand deposits
As much money as may be needed for current operational purposes of the state government, as determined by the State Treasurer in accordance with procedures...
- Section 41-14-33 Contracts covering time deposits, open account; early withdrawal; apportionment; payment and rate of interest
(a) The State Treasurer is authorized to enter into contracts with the state depositories for the deposit of state funds in time deposits, open account,...
- Section 41-14-34 How interest on time deposits, open account, calculated and paid; emergency withdrawal of funds on time deposit, open account
(a) Interest shall be calculated on the basis of the contracts existing with respect to time deposits, open account, and shall be payable monthly to...
- Section 41-14-35 Security for deposits or accounts
(a) All public deposits, as defined in Chapter 14A, of the state shall be secured to the extent and in the manner provided in Chapter...
- Section 41-14-36 Receipt, etc., of fee, compensation, etc., for placement, etc., of state moneys in time deposits, open account, demand deposits, etc
Any person who knowingly demands or receives any fee, compensation or reward or who demands or accepts directly or indirectly as payment or gift or...
- Section 41-14-37 Section 36-17-18 not affected by provisions of article
Nothing contained in this article shall be construed to modify, amend or repeal the provisions of Section 36-17-18, as now existing or hereafter amended, relating...
- Section 41-14-38 Applicability of provisions of article
The provisions of this article shall not apply to funds subject to withdrawal by a state official, state department or state agency other than the...
- Article 3 Linked Deposit Program of 2007.
Last modified: May 3, 2021