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. - Alabama Statutes

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 for any other services performed by the state depositary. Payment for transfers, removals, item handling charges, and other services performed by the state depositary may be paid by credit allowances for investable balances; except where the service performed is for the benefit of a department of state government other than the State Treasury, then payment of the charges shall be from funds appropriated for the applicable department. When any funds or moneys are transmitted or transferred by any state depositary upon the order of the Treasurer, the same shall be and continue at the risk of the depositary until it shall have reached the destination contemplated by the order.

(Code 1907, §652; Code 1923, §902; Code 1940, T. 55, §390; Acts 1996, No. 96-764, p. 1349, §1.)