15.2-522 - Same; powers of county treasurer; deposit of moneys. - Virginia Statutes

§ 15.2-522. Same; powers of county treasurer; deposit of moneys.

The director of finance shall also exercise the powers conferred and performthe duties imposed by general law upon county treasurers, and shall besubject to the obligations and penalties imposed by general law. All moneysreceived by any county officer or employee for or in connection with countybusiness shall be paid promptly into the hands of the director of finance.All such money shall be promptly deposited by the director of finance to thecredit of the county in such banks or trust companies as the board selects.No money shall be disbursed or paid out by the county except upon checkssigned by the chairman of the board, or such other person the boarddesignates, and countersigned by the director of the department of finance.

The board may designate one or more banks or trust companies as a receivingor collecting agency under the direction of the department of finance. Allfunds so collected or received shall be deposited to the credit of the countyin such banks or trust companies as the board selects.

Every bank or trust company serving as a depository or as a receiving orcollecting agency for county funds shall be required by the board to giveadequate security therefor and to meet such interest requirements as theboard may by ordinance or resolution establish. All interest on money sodeposited shall accrue to the county's benefit.

(Code 1950, § 15-288; 1959, Ex. Sess., c. 69; 1962, cc. 399, 623, § 15.1-605;1982, c. 647; 1984, c. 485; 1997, c. 587.)