(a) (1) The Bank Commissioner shall keep a true and perfect record of
all of the business of the State Bank Department and shall make monthly reports to the Auditor of State of all fees he or she collects.
(2) (A) From the fees or other revenues collected, the commissioner:
(i) Shall deposit directly into the State Bank Department Building Fund the amount due, if any, for the annual rental under any lease or annual principal and interest payments under any bonds related to the acquisition of any properties under § 23-46-202; and
(ii) May deposit directly into the State Bank Department Building Fund an additional annual amount not to exceed ten percent (10%) of the original principal amount of any bonds related to the acquisition of any properties under § 23-46-202.
(B) The commissioner shall make the payments under this subdivision (a)(2) from the moneys received by the department prior to the payment of any of the moneys into the State Treasury.
(C) Upon the discharge of all bonds and leases authorized by § 23-46-202, the commissioner shall deposit into the State Bank Department Building Fund an amount deemed necessary by the commissioner for the operation and maintenance of the department's properties and the establishment and maintenance of appropriate reserves for the repair and replacement of the properties acquired under § 23-46-202.
(D) All fees collected by the commissioner required for the payments under this subdivision (a)(2) are specifically declared to be cash funds and may be collected and deposited into banks and depositories selected by the commissioner.
(3) The commissioner shall promptly pay to the Treasurer of State all fees not necessary for the payments required by subdivision (a)(2) of this section, taking duplicate receipts therefor, one (1) of which shall be filed with the Auditor of State.
(b) All fees and other revenues received by the department not necessary for the payments required by subdivision (a)(2) of this section shall be deposited into the State Treasury as special revenues and credited to the Bank Department Fund to be used solely for the payment of the expenses of the department pursuant to the appropriations therefor.
(c) Upon proper voucher from the commissioner, the Auditor of State shall issue the Auditor of State's warrant on the Treasurer of State in payment of all salaries and other expenses incurred in the administration of the Arkansas Banking Code of 1997.
Section: Previous 23-46-202 23-46-203 23-46-204 23-46-205 23-46-206 23-46-207 23-46-208 23-46-209 23-46-210 23-46-211 23-46-212 NextLast modified: November 15, 2016