Iowa Code § 12C.25
This is the official text of Iowa Code § 12C.25, part of Iowa’s Code — part of the compiled statutory law of Iowa, published by the state as "Code." Browse the sections below, each linked to its official government source.
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State sinking funds created.
Official statutory text
(1) There are created in the treasurer of state’s office the following funds:
(1) (a) A state sinking fund for public deposits in banks.
(1) (b) A state sinking fund for public deposits in credit unions.
(2) Idle balances in the state sinking fund for public deposits in banks shall be invested by the treasurer of state with earnings credited to that fund. Fees paid by banks for administration of this chapter shall be credited to the state sinking fund for public deposits in banks and the treasurer of state may deduct actual costs of administration from that fund.
(3) The funds shall be used to receive and disburse moneys pursuant to section 12C.23, subsection 3, paragraph “d” and section 12C.23A, subsection 3, paragraph “d”.
85 Acts, ch 194, §8CS85, §453.2586 Acts, ch 1237, §28C93, §12C.2599 Acts, ch 117, §13, 15; 2000 Acts, ch 1154, §2; 2002 Acts, ch 1096, §11, 17
(1) (a) A state sinking fund for public deposits in banks.
(1) (b) A state sinking fund for public deposits in credit unions.
(2) Idle balances in the state sinking fund for public deposits in banks shall be invested by the treasurer of state with earnings credited to that fund. Fees paid by banks for administration of this chapter shall be credited to the state sinking fund for public deposits in banks and the treasurer of state may deduct actual costs of administration from that fund.
(3) The funds shall be used to receive and disburse moneys pursuant to section 12C.23, subsection 3, paragraph “d” and section 12C.23A, subsection 3, paragraph “d”.
85 Acts, ch 194, §8CS85, §453.2586 Acts, ch 1237, §28C93, §12C.2599 Acts, ch 117, §13, 15; 2000 Acts, ch 1154, §2; 2002 Acts, ch 1096, §11, 17
Status: in_force · Read it on the official government site
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