RSA 29 County Treasurers and County Taxes
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Change 1
29:3 Excess Funds.
Whenever the county treasurer has in custody an excess of funds which are not immediately needed for the purpose of expenditure the county treasurer may, with the approval of the county commissioners and county executive committee, invest the same in short-term obligations of the United States or in participation units in the public deposit investment pool established pursuant to RSA 383:22, upon such terms as shall be approved by the county commissioners. Any person who directly or indirectly receives any such funds or moneys for deposit or for investment in securities of any kind shall, prior to acceptance of such funds, make available at the time of such deposit or investment, an option to have such funds secured by collateral having a value at least equal to the amount of such funds. Such collateral shall be segregated for the exclusive benefit of the county. Only securities defined by the bank commissioner in rules adopted pursuant to RSA 386:57 shall be eligible to be pledged as collateral. At least yearly, the county treasurer, with the approval of the county commissioners, shall review and adopt an investment policy for the investment of public funds in conformance with the provisions of applicable statutes. Source. 1915, 153:2. PL 39:3. RL 48:3. RSA 29:3. 1959, 197:1. 1991, 268:5, eff. Aug. 9, 1991; 383:2, eff. Aug. 31, 1991. 1996, 209:3, eff. Aug. 9, 1996.
29:3 Excess Funds.
Whenever the county treasurer has in custody an excess of funds which are not immediately needed for the purpose of expenditure the county treasurer may, with the approval of the county commissioners and county executive committee, invest the same in short-term obligations of the United States or in participation units in the public deposit investment pool established pursuant to RSA 383:22, upon such terms as shall be approved by the county commissioners. Any person who directly or indirectly receives any such funds or moneys for deposit or for investment in securities of any kind shall, prior to acceptance of such funds, make available at the time of such deposit or investment, an option to have such funds secured by collateral having a value at least equal to the amount of such funds. Such collateral shall be segregated for the exclusive benefit of the county. Only securities defined by the bank commissioner in rules adopted pursuant to RSA 386:57 shall be eligible to be pledged as collateral. At least yearly, the county treasurer, with the approval of the county commissioners, shall review and adopt an investment policy for the investment of public funds in conformance with the provisions of applicable statutes. Source. 1915, 153:2. PL 39:3. RL 48:3. RSA 29:3. 1959, 197:1. 1991, 268:5, eff. Aug. 9, 1991; 383:2, eff. Aug. 31, 1991. 1996, 209:3, eff. Aug. 9, 1996.
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