(a) (1) Funds from the State Treasury deposited into a bank depository or an investment depository shall be credited to accounts in the name of the Treasurer of State.
(2) Except as provided in § 19-3-512, the Treasurer of State may establish accounts as demand deposit accounts, certificates of deposit, or other accounts.
(b) The certificate of deposit account in a bank depository or an investment depository shall consist of funds from the State Treasury deposited under the State Treasury Certificate of Deposit Investment Program and trust funds deposited for various trust funds.
(c) The demand deposit account in a bank depository or an investment depository shall consist of:
(1) All federal funds, as described in § 19-7-101 et seq.;
(2) Trust funds to the extent that the trust funds are not invested in securities and certificates of deposit; and
(3) State funds to the extent that the state funds are not invested in securities.
(d) Funds from the State Treasury shall not be deposited into a bank depository or an investment depository except under the terms of a written agreement entered into between the Treasurer of State and the bank depository or investment depository that complies with applicable state and federal law, rules, and regulations.
Section: Previous 19-3-503 19-3-504 19-3-505 19-3-506 19-3-507 19-3-508 19-3-509 19-3-510 19-3-511 19-3-512 19-3-513 19-3-514 19-3-515 19-3-516 19-3-517 NextLast modified: November 15, 2016