110.170. Transferring funds to depositary--liability of treasurer and depositary--duties of township trustees.

MISSOURI STATUTES AND CODES

110.170. Transferring funds to depositary--liability of treasurer and depositary--duties of township trustees.

Transferring funds to depositary--liability of treasurer anddepositary--duties of township trustees.

110.170. 1. As soon as the required security is given andapproved, the commission shall make an order designating thesuccessful bidders as depositaries of the funds until sixty-fivedays after the time fixed by sections 110.130 to 110.260 foranother selection, and thereupon the county treasurer, and the exofficio collector if the county be under township organization,shall immediately upon the making of the order, transfer to thedepositaries the part or parts of all funds respectively let tothe depositaries under the selection, and immediately upon thereceipt of any money thereafter deposit it with the depositariesto the credit of the county. The said treasurer shall, as nearlyas may be, maintain with each of the depositaries selected itsdue and proportionate share of the total of the funds let.

2. For any failure of the county treasurer to make transferof the funds or to deposit all of the funds with thedepositaries, whether the same shall come into his hands astreasurer or as ex officio collector of the revenue, orotherwise, he is liable to the depositaries, respectively, forten percent per month, during such failure, upon the respectivepart or parts of said funds not so deposited, to be recovered bycivil action.

3. In counties under township organization the townshiptrustee shall deposit all school taxes received by him with thedepositary selected by the township board of his township as thedepositary of the township funds; and in default of the selectionof a depositary by the township board, and during the time whenany township has no depositary of its funds, the township trusteeshall deposit all school taxes and all township funds received byhim in any county depositary within the township, if there beone; if not, then in the county depositary most convenient to thetownship, and such county depositary shall thereupon pay to thetownship the same rate of interest upon the moneys which it hascontracted to pay the county upon its funds, and the township mayrecover the same by civil action.