Section 490:26-c Escrow Fund for Court Facility Improvements.
I. Seven percent of each entry fee collected in the judicial branch family division and in the supreme, district, superior, and probate courts shall be deposited in escrow for court facility improvements. Moneys in the escrow fund shall be used for improvements to existing facilities by the department of administrative services as recommended and approved by the supreme court.
II. The state treasurer shall establish procedures for deposits to and expenditures from the escrow fund for court facilities. The escrow fund shall be a dedicated capital reserve fund for the improvement of existing court facilities, or those facilities acquired pursuant to an act of the general court.
III. The funds on deposit in the escrow fund for court facility improvements shall be invested by the state treasurer in obligations of the United States government, in government agency obligations, in obligations which are legal investments for savings banks and trust companies, and in all types of savings accounts or certificates of deposit of both state or federally chartered institutions.
Source. 1981, 562:1. 1982, 9:2. 1985, 404:5. 1989, 371:4, eff. July 1, 1989. 2007, 234:3, eff. July 1, 2007.