HB0028 Approved depositories for public funds.

Official Summary Text

Bill Summary

Bill No.:
HB0028
Effective
:
Immediate

LSO No.:
17LSO-0023

Enrolled Act No.:
HEA No. 0066

Chapter No.:
[Chapter Number_RO]

Prime Sponsor:
Joint Corporations, Elections & Political Subdivisions Interim Committee

Catch Title:
Approved depositories for public funds.

Subject:
Providing for the deposit of public funds in banks other than state and national banks
.

Summary/Major Elements:

Existing law
authorizes the
State Treasurer
and the treasurers of political subdivisions, municipalities and special districts within this State to d
eposit public monies
in state and national banks, in addition to federal and state savings and loan associations.

This act authorizes the deposit
of
public monies
in banks other than state and national banks. Specifically, the act authorizes the deposit of monies
in any bank chartered under the laws of the United States or under the law of any state if the bank is conducting business in Wyoming and has been approved by the Board of Deposits.

The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill
.

Current Bill Text

Read the full stored bill text

ORIGINAL
House
Bill No
.
HB0028

ENROLLED ACT NO. 66,

HOUSE OF
REPRESENTATIVES

SIXTY-FOURTH LEGISLATURE OF THE STATE OF WYOMING
2017 General Session

AN ACT relating to public depositories; providing for the deposit of public funds in banks other than state and national banks as specified; making conforming amendments; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1
.

W.S. 5
‑
9
‑
149, 9
‑
4
‑
803(
a)
,
9
‑
4
‑
817(a)(intro) and (b)(intro) are amended to read:

5
‑
9
‑
149
.

Bank accounts.

The accounting system established by the Wyoming supreme court may provide for bank accounts for each circuit court in which money received by the circuit court may be deposited and disbursed as provided therein, and for such records, reports and procedures as the supreme court requires. Money received as fines, forfeitures or court costs may not be deposited in the same bank account as money received in civil matters. If a bank account is established into which fines, costs or forfeitures are deposited, the accounting system established by the supreme court shall require, where available, the use of accounts in a financial institution
listed in W.S. 9
‑
4
‑
817(
a)

authorized by W.S. 9
‑
4
‑
803(a)
which may earn interest, in which the deposits are subject to payment upon demand and which are insured or secured as provided in W.S. 9
‑
4
‑
817(c). Interest earned on deposits of fines and forfeitures in such accounts shall be forwarded monthly to the county treasurer and credited to the county public school fund. Interest earned on all other deposits in such accounts shall be forwarded to the state treasurer quarterly and credited to the victim's compensation account created by W.S. 1
‑
40
‑
114(
a).

9
‑
4
‑
803
.

Deposit of state money in approved depositories; authority of treasurer; rulemaking.

(a)

The state treasurer may deposit any portion of the public monies in his possession in
national banks within this state or in any state banks incorporated under the laws of and doing business in this state, as have

any bank chartered under the laws of the United States or under the law of any state if the bank is conducting business in Wyoming and has
been approved under W.S. 9
‑
4
‑
801 through 9
‑
4
‑
818 by the board of deposits. As used in W.S. 9
‑
4
‑
801 through 9
‑
4
‑
818, "bank" includes federal and state savings and loan associations. Federal and state savings and loan associations may be designated as depositories for state funds in the same manner as state and national banks.

9
‑
4
‑
817
.

Deposits by political subdivisions; selected institutions; security; withdrawals.

(a)

To the extent they are not otherwise invested, the monies collected and held by a treasurer of a political subdivision, municipality or special district within this state shall be deposited in
:

banks which qualify as depositories for public monies as specified in W.S. 9
‑
4
‑
803(
a).

(b)

In depositing the monies in the financial institutions
enumerated in

authorized by
subsection (a) of this section, the treasurer shall select the institution:

Section 2
.

W.S. 9
‑
4
‑
817(
a)(i) through (iv) is repealed.

Section 3
.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

Speaker of the House

President of the Senate

Governor

TIME APPROVED: _________

DATE APPROVED: _________

I hereby certify that this act originated in the
House
.

Chief Clerk

1

Approved depositories for public funds.

Plain English Breakdown

Bill History

Official Summary Text

Current Bill Text