110.190. Duty of county commission when funds are deposited with two or more banks. - Missouri Statutes

Duty of county commission when funds are deposited with two ormore banks.

110.190. When the funds of any county are deposited with twoor more banking corporations, or associations, as provided insection 110.180, the county commission shall select and name, byorder, one of the banking concerns to act as a clearing house forthe others, at which all checks drawn by the county treasurerupon the county funds shall be finally paid; and the bank soselected and acting as a clearing house shall be allowed a rebateon the amount of interest due from it to the county for fundsdeposited with it; but the rebate shall not exceed one-half ofone percent per annum on the whole amount of county fundsdeposited with the banking concern, to be computed as provided insection 110.150 and to be deducted from the amount of interestdue and payable monthly as provided in section 110.150.

(RSMo 1939 § 13853, A.L. 1959 S.B. 77)

Prior revisions: 1929 § 12190; 1919 § 9588; 1909 § 3809