51-4-2 - Deposits by political subdivisions.
51-4-2. Deposits by political subdivisions.
(1) As used in this section:
(a) "Officer" means each:
(i) county treasurer, county auditor, county assessor, county clerk, clerk of the districtcourt, city treasurer, city clerk, justice court judge; and
(ii) other officer of a political subdivision.
(b) "Political subdivision" means a county, city, town, school district, local district, andspecial service district.
(2) (a) Each officer shall deposit all public funds daily whenever practicable but not laterthan three days after receipt.
(b) Each officer shall deposit all public funds only in qualified depositories unless thepublic funds need to be deposited in a bank outside Utah in order to provide for:
(i) payment of maturing bonds or other evidences of indebtedness; or
(ii) payment of the interest on bonds or other evidences of indebtedness.
(3) (a) (i) Each officer shall require all checks to be made payable to the office of theofficer receiving funds or to the political subdivision's treasurer.
(ii) An officer may not accept a check unless it is made payable to the office of theofficer receiving funds or to the political subdivision's treasurer.
(b) Each officer shall deposit all money he collects into an account controlled by hispolitical subdivision's treasurer.
(4) (a) Except as provided in Subsection (4)(b) and unless a shorter time for depositingfunds is otherwise required by law, each political subdivision that has collected funds that aredue to the state or to another political subdivision of the state shall, on or before the tenth day ofeach month, pay all of those funds that were receipted during the last month:
(i) to a qualified depository for the credit of the appropriate public treasurer; or
(ii) to the appropriate public treasurer.
(b) Property tax collections shall be apportioned and paid according to Section59-2-1365.
Amended by Chapter 329, 2007 General Session