§ 35-4-24 - Custodial funds received and held in trust by state agencies.
SECTION 35-4-24
§ 35-4-24 Custodial funds received andheld in trust by state agencies. – (a) State agencies which receive funds from wards of the state for the purposesof maintaining these funds in trust while the person is in the care of thestate shall deposit these funds in the general fund.
(b) All funds received from patients, wards, inmates, orresidents on a custodial or trust basis shall be turned over to the generaltreasurer and shall be placed in a custodial account within the general fund.The general treasurer will provide the agency with an estimate of earnings onthese funds while held in the general fund, and the state controller shalltransfer these earnings to the trust account. It will be the responsibility ofthe agency to determine the allocation of these earnings. The state controller,upon receipt by him or her of properly authenticated vouchers, is authorized todraw from time to time his or her orders upon the general treasurer for paymentfrom these custodial accounts and the general treasurer is authorized anddirected to make payments from these accounts upon receipt of the orders.