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Fees and Penalties Collected by State Officers-Payment to State.
Section 2. It shall be the duty of each and every state officer, state board, state commission and all members and employees of either thereof, to deposit daily in the official depository designated in section one (1) hereof, all moneys, checks, drafts, orders, vouchers, funds, rentals, penalties, costs, proceeds of sale of property, fees, fines, forfeitures and public charges of every kind received or collected by virtue or under color of office, and all such funds and moneys in the hands of any such officer, board, commission, or of any member or employee of either thereof, at the time this act becomes effective shall be immediately transferred to and covered into the said official depository; provided, that all checks, drafts, orders and vouchers so deposited shall be credited and cleared at par, and should payment be refused on any such check, draft, order or voucher or should the same prove otherwise worthless, the amount thereof and any costs accruing thereon, shall be a charge against the account theretofore credited with the same, and the officer, board, commission, or member or employee of either thereof so depositing any such unpaid or worthless check, draft, order or voucher shall be liable for any loss to the state, its funds, or funds under its management, occasioned by the acceptance of any such unpaid or worthless check, draft, order or voucher. All moneys when so received by the State Treasurer, as such official depository shall be by him deposited daily in banks designated and qualified as depositories, as hereinafter provided, and shall draw interest at the rate of not less than three per centum (3%) per annum on average daily balances, which said interest shall be paid monthly and when collected shall be credited to the respective funds and accounts so earning the same. State Depositories-Limit of Deposits-Funds From Public Lands.
Section 3. The Governor, Attorney General and State
Treasurer are hereby authorized and directed to select a number of banks within the State of Oklahoma as depositories for all moneys and funds coming into the hands of the State Treasurer as the official depository designated in this act; such banks must be in good standing at the time of the selection and shall pay interest at the rate of not less than three per centum (3%) per annum on daily balances, and shall collect free of charge such checks, drafts, orders and vouchers as may be deposited in the regular course of business, and shall pay all checks, drafts, orders and vouchers legally authorized and duly drawn on the moneys and funds so deposited in such banks.
There shall not be deposited in any one of such banks an amount of the official depository funds and moneys, together with the amount of any deposit of State Treasury funds, in excess of the capital stock of any such bank. Such banks shall, on or before the second Monday in each month, make a report in duplicate, filing one thereof with the State Auditor and the other with the State Treasurer, showing the debits, credits and balances for each day of the previous calendar month, and at the same time shall return to the State Treasurer all vouchers redeemed during such month; provided, that as to all funds received by the Treasurer as such official depository from the Commissioners of the Land Office, or anyone acting for them, such funds shall be kept in a separate account by said Treasurer, and the interest accruing on said funds shall become a part of the said funds; provided, further, that the Commissioners of the Land Office shall select the banks within the State of Oklahoma that may be used as depositories by said Treasurer as official depository of such moneys and funds coming into his hands in such capacity from the Commissioners of the Land Office, or anyone acting for them, and approve the bonds or securities offered for such deposits. Such banks must meet the requirements as prescribed in this section for banks to be selected by the Governor, At
torney General, and the State Treasurer as depositories for other public moneys, and the deposits of such funds shall be made in said bank by the State Treasurer. The maximum amounts to be deposited in each bank to be designated by the Commissioners of the Land Office; provided, that in making such deposits the Treasurer shall not make discrimination between the designated depositories.
Security for Deposits.
Section 4. Any and all banks selected as such depositories shall deposit with the State Treasurer, as such official depository, subject to approval as hereinafter provided, as security for such moneys or funds, United States bonds; state bonds or warrants, county bonds or warrants, city bonds or warrants, town bonds or warrants, township bonds or warrants, school district bonds or warrants, issued under authority and in compliance with the statutes of Oklahoma; or other legal evidence of indebtedness issued by municipalities of this state, in payment of paving, sewer, waterworks, electric light or other public indebtedness and for the payment of which a special tax is authorized to be levied and collected; first mortgage bonds on farm lands located in the State of Oklahoma, provided, that such first mortgage bonds shall not exceed forty per centum (40%) of the actual cash value of such farm lands, and shall bear interest at not less than six per centum (6%) per annum; or approved state, county and municipal bonds of other states, in an amount equal to such deposit, to be held as security for such moneys and funds until such banks shall have returned in full and fully paid the sum or sums deposited with interest thereon. In addition to the foregoing securities, or in lieu thereof, surety or trust company bonds may be accepted as security for such deposit; provided, that no surety or trust company shall be interested, directly or indirectly, in any manner, in any bank or trust company for which it becomes surety, nor shall any bond of any surety or trust company be accepted that has more than one-fourth (14) of its paid capital invested
in bank stock. The bondsmen of the State Treasurer, as such official depository, shall be liable to the bank for any securities deposited as herein provided and for the accounting of all such securities and the return thereof to the said bank or the value thereof in money. Examination of Securities for Deposits-Forfeiture of Securities.
Section 5. Before the State Treasurer shall be authorized to deposit in any bank or banks any funds coming into his hands, as herein provided, it shall be the duty of the Governor, the Attorney General and the State Treasurer to investigate and examine, and if found satisfactory, to approve such securities or bonds, so offered, and the expense of such investigation, if any, shall be paid by the bank offering such securities, or bonds. In the event of default of any bank designated and approved as a depository, the said securities shall become forfeited to the state and shall be sold by the State Treasurer and the proceeds thereof used in liquidation of the obligation of such bank accruing by reason of the deposits of any funds therein as herein authorized and provided. Such securities so forfeited shall be sold by the State Treasurer, after sixty (60) days' notice, at public or private sale, at not less than par or market value, without further process of law. Should the proceeds of the sale of such securities be less in amount than the amount deposited, accrued interest, expenses of advertising and selling, the State Treasurer shall be entitled to recover from such bank such balances with costs and attorneys' fees. Deposits-How Credited-Payments.
Section 6. All moneys deposited in the official depository as provided in sections one (1) and two (2) hereof, shall be credited to the account of the officer, board or commission or employee thereof so depositing the same, and may be withdrawn only in transfer into the State Treasury such parts thereof as may be due the state or its funds, or funds under its management, and in refund of erroneous or excessive collections and credits, and in payment of legal
claims and charges against any trust deposit or fund included in any such account. All withdrawals of moneys from the said depository shall be made on the voucher of the authority making such deposit, which said vouchers shall show on their face the character of claim or charge liquidated or the fund or funds to which transferred in the State Treasury, and shall, when redeemed, be delivered monthly to the State Auditor and receipted for by him. All vouchers issued as in this act provided for the withdrawal of moneys from the official depository, when presented for redemption to the State Treasurer, shall be by him registered for payment by writing his official signature as custodian of such official depository thereon and designating on the face thereof the bank through which the same shall be paid, which voucher when so registered shall be and become the official draft of the State Treasurer on the bank so designated thereon. The Treasurer shall keep a record of all vouchers so registered by him, showing therein the date of issue and registration of each voucher, by whom and on what account drawn, to whom payable, the purpose for which issued and the amount thereof, and the name of bank on which registered for payment.
Moneys Belonging to General Revenue Funds—Departments to Report to State Auditor.
Section 7. All moneys that shall be received during any calendar month by any state officer, state board, state commission or the members or employees of either thereof, accruing as a part of state's general revenue or any other appropriated funds, shall be paid into the State Treasury—that is, transferred from the official depository to the fund or funds in the State Treasury to which the same belongs by the authority so receiving the same on or before the second Monday following the close of the calendar month in which such moneys shall have been received, and it shall be the further duty of all such officers, board, commissions and the members and employees of