§ 44-19-36 - Notice to segregate trust funds.
SECTION 44-19-36
§ 44-19-36 Notice to segregate trustfunds. – If the tax administrator believes that the payment to the state of the trustfund established under § 44-19-35 will be jeopardized by delay, neglect,or misappropriation, the administrator shall notify the retailer that the trustfund shall be segregated, and kept separate and apart from all other funds andassets of the retailer and shall not be commingled with any other funds orassets. The notice shall be given by either hand delivery or by registeredmail, return receipt requested. Within four (4) days after the sending of thenotice, all of the taxes which thereafter either become collectible or arecollected shall be deposited daily in any financial institution in the state asdefined in title 19 and those taxes designated as a special fund in trust forthe state and payable to the state by the retailer as trustee of that fund.