Chapter 1 - State Funds Generally
- Article 1 State Depositaries.
- Section 41-14-1 Designation of state depositories
The Governor may designate any bank or savings association which is a qualified public depository under Chapter 14A of this title as a state ...
- 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 ...
- 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 ...
- Section 41-14-4 Designation of depositaries and transfer or removal of state funds to or from same to be without cost, expense or risk to state
The state may pay any state depositary for the transfer or removal of funds to or from the state depositary, item handling charges, and ...
- 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 ...
- 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, ...
- 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 ...
- 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Repealed effective January 1, 2001, by Act 2000-748, §3.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THIS SECTION WAS REPEALED BY ACT 2000-748, 2000 REGULAR SESSION, EFFECTIVE JANUARY 1, 2001.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 ...
- 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 ...
- 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 ...
- 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 ...
- 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 ...
- Article 2 Deposit of State Funds.
- Section 41-14-30 Deposit of funds in qualified public depositories; investment in certain bonds, etc
The State Treasurer may deposit the money of the state in any bank or savings association that is a qualified public depository under Chapter ...
- Section 41-14-31 Moneys for current operational expenses to be maintained in Treasury in cash or in demand deposits in state depositaries; apportionment of demand deposits among state depositaries
As much money as may be needed for current operational purposes of the state government, as determined by the State Treasurer in accordance with ...
- Section 41-14-33 Execution by State Treasurer of contracts with state depositories covering time deposits, open account; early withdrawal; 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 ...
- 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 ...
- 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 ...
- 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 ...
- 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, ...
- 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 ...
- Article 3 Linked Deposit Program of 2007.
- Section 41-14-50 Short title; legislative intent
This article shall be known as the Linked Deposit Program of 2007. The purpose of this article is to enhance the George Wallace, Jr., ...
- Section 41-14-51 Definitions
When used in this article, the following words and phrases have the following meanings: (1) AGRICULTURE AND AGRICULTURAL. Those activities, land, buildings, and machinery ...
- Section 41-14-52 Creation administration of program
(a) The Linked Deposit Program of 2007 is created and the Treasurer shall administer the program. (b) The Treasurer shall establish procedures, guidelines, forms, ...
- Section 41-14-53 Applications for loans; linked deposit package
(a) An eligible lending institution shall accept and review applications for linked deposit loans from eligible borrowers. The lending institution shall apply all usual ...
- Section 41-14-54 Terms of linked deposits
(a) Only one linked deposit shall be made and be outstanding at any one time to any one eligible borrower. (b) The linked deposit ...
- Section 41-14-55 Loan rates
(a) The linked deposit fixed rate paid by the eligible lending institution shall be two percent below the two-year constant maturity treasury rate. (b) ...
- Section 41-14-56 Liability of state and Treasurer ; delays in payments
(a) Neither the state nor the Treasurer shall be liable to any eligible lending institution in any manner for payment of the principal or ...
