51-7-5 - Transfer of public funds not otherwise required to be transferred to state treasurer -- Duties of public treasurers -- Withdrawals of transferred funds. - Utah Statutes

51-7-5. Transfer of public funds not otherwise required to be transferred to statetreasurer -- Duties of public treasurers -- Withdrawals of transferred funds.
Any public funds as to which the deposit, investment, or reinvestment is not transferred tothe state treasurer by Section 51-7-4, may be transferred to the state treasurer by the publictreasurer having responsibility for the control or management of these public funds.Notwithstanding the transfer, the public treasurer shall retain sufficient funds to cover the cashrequirements of the body owning or having control or management of these funds and shallcontinue to be responsible for the proper collection, deposit, and disbursement of these funds inthe manner provided by law. The public funds transferred or placed under the control orsupervision of the state treasurer under this section are subject to all applicable provisions of thischapter and are under the jurisdiction of the state treasurer until the public treasurer withdrawsthese public funds from the state treasurer. Withdrawals may be made from time to time on suchreasonable notice as the state treasurer may prescribe. The public treasurer may withdraw all orany part of the public funds originally transferred to the state treasurer, subject to any rules as tothe maximum amounts which may be withdrawn at any one time as the state treasurer mayreasonably prescribe.

Amended by Chapter 44, 1984 General Session