110.110. Duty of treasurer. - Missouri Statutes

Duty of treasurer.

110.110. The treasurer of the board of managers, by whatevername called, of the institution, after the selection of thedepositaries and the approval of their security, immediately uponthe receipt of any money thereafter shall deposit the same withthe depositary to the credit of the institution, and thetreasurer shall, as near as may be, maintain with the depositaryselected its due and proper share of the total of the funds let;and for any failure of the treasurer to make transfer of thefunds or to deposit all of the funds with the depositary, heshall be liable to the depositary for ten percent per month uponthe part of the funds not deposited, to be recovered by civilaction.

(RSMo 1939 § 9377, A.L. 1959 S.B. 77)

Prior revisions: 1929 § 8680; 1919 § 12323