SB 771 Modifies provisions relating to financial institutions offering bids to become the official county depositary
Sponsor: Scott
LR Number: 4347S.01T Fiscal Note: 4347-01T.ORG
Committee: Financial and Governmental Organizations and Elections
Last Action: 5/25/2010 - Delivered to Governor Journal Page: S1950
Title: Calendar Position:
Effective Date: August 28, 2010
House Handler: Wilson

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Current Bill Summary

SB 771 - This act specifies that each bid from a bank to be the depositary for the county must be accompanied by a certified check for an amount equal to a certain percentage of the county general revenue, rather than all county revenue. Such check serves as guaranty of good faith that the required security will be provided.

This act also changes outdated references to "ex officio treasurer" to reflect the current term, "collector treasurer".

This act is similar to HB 1545 (2010).