Connecticut General Statutes
Chapter 32 - Treasurer
Section 3-25. - Payment of public moneys. Designation of authority for certain payments to constituent units of the state system of higher education. Authorization for certain payments to be made by the assistant treasurer for investments.

(a) Except as provided in subsections (b) and (c) of this section, the Treasurer shall pay out the public moneys only upon the order of the General Assembly, of the Senate, of the House of Representatives, of the several courts when legally authorized or of the Comptroller for accounts legally adjusted by him or when he is authorized to order for the payment of money from the Treasury. He shall pay no warrant or order for the disbursement of public money until the same has been registered in the office of the Comptroller. The Comptroller shall not issue any warrant, draft or order except upon (1) an adequate expenditure voucher which shall be retained in his office for the period provided by law, (2) certification by an expending agency which retains an adequate expenditure voucher in accordance with such procedures as the Comptroller may prescribe, or (3) upon certification by the chief executive officer of a constituent unit of the state system of higher education, provided, in the case of the Connecticut State University System, the certification may be made by the chief executive officer of a state university, as provided in subsection (b) of section 3-117.

(b) Subject to the approval of the Comptroller and in accordance with such procedures as he may specify, the chief executive officer of a constituent unit of the state system of higher education or, in the case of the Connecticut State University System, the chief executive officer of a state university, may make payment of any claim against the constituent unit or institution, as appropriate, other than a payment for payroll, debt service payable on state bonds to bondholders, paying agents or trustees, or any payment the source of which includes the proceeds of a state bond issue. Upon receipt of a request to make such payment, the Treasurer shall delegate such authority to such chief executive officer and shall approve such banking arrangements as are necessary for such unit or institution to make such payments. Payments for payroll, debt services payable on state bonds to bondholders, paying agents or trustees, or payments from the proceeds of state bonds shall be made solely by the Treasurer in accordance with the provisions of subsection (a) of this section.
(c) The State Treasurer may authorize the assistant treasurer for investments, or any successor therefor with the approval of the Comptroller and in accordance with the procedure prescribed by the Comptroller, to certify to the Comptroller that the services for which claims against the Connecticut retirement and trust funds are made have been properly received or performed or, if not yet received or performed, are covered (1) by contracts properly drawn and executed or (2) under procedures approved by said assistant treasurer for investments, and that such claims are supported by vouchers or receipts for the payment of any money exceeding twenty-five dollars at one time, and by an accurate account, showing the items of such claims, and a detailed account of expenses, when expenses constitute a portion of them, specifying the purpose for which they were incurred; and the original vouchers or receipts shall be filed with the assistant treasurer for investments, or any successor therefor, as support for the direct disbursement of funds from income derived from the trust funds. Copies of such documentation shall be provided to the Comptroller upon request.
(1949 Rev., S. 112; P.A. 91-256, S. 1, 69; 91-407, S. 26, 42; P.A. 92-154, S. 1, 23; P.A. 93-285, S. 1; P.A. 96-61, S. 1, 2; P.A. 97-212, S. 1, 5; P.A. 05-288, S. 7.)
History: P.A. 91-256 made the existing section Subsec. (a), added the language in Subsec. (a) concerning payments made upon certification by chief executive officers of the constituent units of the state system of higher education and added Subsec. (b); P.A. 91-407 amended Subsec. (b) to make payment of claims subject to comptroller's approval; P.A. 92-154 amended Subsec. (b) to add the language concerning the withholding or reduction in state payments; P.A. 93-285 amended Subsec. (a) by adding Subdiv. designations and adding new Subdiv. (2) authorizing comptroller to act upon certification by an expending agency retaining an adequate expenditure voucher; P.A. 96-61 amended Subsec. (b) by deleting exemption to requirement that bills paid directly by constituent units of higher education be reduced or withheld to offset debts owed to state, effective May 1, 1997; P.A. 97-212 added Subsec. (c) re authorization for the assistant treasurer for investments to certify for payment of manager fees for the Connecticut retirement and trust funds, effective June 24, 1997; P.A. 05-288 made technical changes in Subsec. (a), effective July 13, 2005.
Payment of gratuities upon order of the Senate, registered on books of Comptroller. 85 C. 657. Cited. 129 C. 277; 133 C. 131.
Not the function of highway commissioner to pay out money for construction. 5 CS 114.

Structure Connecticut General Statutes

Connecticut General Statutes

Title 3 - State Elective Officers

Chapter 32 - Treasurer

Section 3-11. - Salary and bond of Treasurer. Office of Treasurer full time.

Section 3-11a. - Authority to enter into contractual agreements.

Section 3-12. - Deputy Treasurer.

Section 3-12a. - Appointment of officers and investment-related personnel.

Section 3-13. - Assistant treasurer for debt management. Additional assistant treasurer.

Section 3-13a. - Investment department. Chief investment officer, deputy chief investment officer, principal investment officers and other personnel. Investment counsel. Costs of department.

Section 3-13b. - Investment Advisory Council established. Duties and powers. State Treasurer's investment policy statement.

Section 3-13c. - Trust funds defined.

Section 3-13d. - Trust funds: Investment, restrictions, sale of call options. Consideration of political implications of particular investments in relation to U.S. foreign policy and national interests. Connecticut mortgage pass-through certificates....

Section 3-13e. - Investment of trust funds in loans to mortgage lenders.

Section 3-13f. - State investment policy in relation to corporations doing business in South Africa.

Section 3-13g. - Divestment of state funds invested in companies doing business in Iran.

Section 3-13h. - Investments in companies doing business in Northern Ireland which have not implemented the MacBride principles.

Section 3-13i. - Contracts for services related to investment of trust funds.

Section 3-13j. - Third party fees in investments by Treasurer or quasi-public agencies.

Section 3-13k. - Direction of third party fees by Treasurer prohibited. Personal use by Treasurer of broker's credits prohibited.

Section 3-13l. - Finder's fees in connection with state investments prohibited. Definitions. Penalties.

Section 3-14. - Management and sales of state property.

Section 3-14a. - Treasurer to administer trusts for counties.

Section 3-14b. - Option of municipality to purchase state-owned land prior to sale. Waiver of rights. Exceptions.

Section 3-15. - Sites for beacon lights and other buildings.

Section 3-16. - Temporary borrowing. Approval by Governor. Notice to committees of General Assembly.

Section 3-17. - Collection of state revenue. Issuance of bonds.

Section 3-17a. - Payments to the state from certain financing litigation settlements.

Section 3-18. - Use of facsimile of state seal on bonds.

Section 3-19. - Place of payment of state bonds.

Section 3-20. - Short title: State General Obligation Bond Procedure Act. State Bond Commission.

Section 3-20a. - Redemption or repurchase of bonds. Additional security.

Section 3-20b. - Trusteeships.

Section 3-20c. - Certain appropriations not to lapse.

Section 3-20d. - Requirements for issuance of tax-exempt obligations by agents of state government.

Section 3-20e. - Provision of secondary market disclosure information by political subdivisions of the state, municipalities and quasi-public agencies. Indemnification.

Section 3-20f. - State Bond Commission vote to authorize issuance of agricultural land preservation program bonds and bonds for general maintenance and trade and capital equipment for technical education and career schools.

Section 3-20g. - Economic recovery notes to finance deficit in fiscal year 2009.

Section 3-20h. - Bond authorization for accumulated deficit as determined using generally accepted accounting principles.

Section 3-20i. - Disposition of bond proceeds.

Section 3-20j. - Credit revenue bonds.

Section 3-21. - Bond limitation. Debt certification. Bond issuance limitation. Allotment limitation.

Section 3-21a. - Jurisdiction of Superior Court in actions re bonds and notes. Defenses reserved to the state.

Section 3-21aa. - General obligation bonds for transportation projects. Authorization of special tax obligation bonds or general obligation bonds deemed to authorize issuance as either special tax obligation bonds or general obligation bonds.

Section 3-21b. - Transfer to General Fund of bond proceeds from general obligation bonds of the state which are no longer required for designated purposes or projects. Report by Office of Policy and Management.

Section 3-21c. - Transfer of unexpended proceeds from transportation related general obligation bonds that are no longer required for designated purposes or projects.

Section 3-21d. - Report re public works construction projects receiving funding from bond proceeds. Unexpended amount.

Section 3-21e. - Divestment of state funds invested in companies doing business in Sudan.

Section 3-22. - Bond Retirement Fund.

Section 3-22a. - Definitions: College savings bonds.

Section 3-22b. - Designation of bonds as college savings bonds.

Section 3-22c. - Negotiated sales of college savings bonds.

Section 3-22d. - Terms of issuance of college savings bonds.

Section 3-22e. - Connecticut Higher Education Trust Advisory Committee.

Section 3-22f. - Connecticut Higher Education Trust: Definitions.

Section 3-22g. - Connecticut Higher Education Trust: Established.

Section 3-22h. - Trust authority of the Treasurer.

Section 3-22i. - Investment of funds in the trust.

Section 3-22j. - Participation in and the offering and solicitation of the trust exempt from sections 36b-16 and 36b-22. Evidence of exemption from federal securities laws.

Section 3-22k. - Trust financial report.

Section 3-22l. - Exemption from taxation.

Section 3-22m. - State pledge for purposes of the trust.

Section 3-22n. - Nothing in trust or in any participation agreement deemed to guarantee admission to or continued enrollment in educational institution.

Section 3-22o. - Compliance with provisions necessary for trust to constitute state tuition program and be tax exempt.

Section 3-22p. - Investments in trust not considered an asset for certain programs and purposes.

Section 3-22u. - CHET Baby Scholars fund and program.

Section 3-23. - Destruction of matured bonds.

Section 3-23a. - Replacement of mutilated, destroyed, stolen or lost state obligations.

Section 3-24. - Deposit of funds.

Section 3-24a. - Tax-Exempt Proceeds Fund created.

Section 3-24b. - Deposit of money in Tax-Exempt Proceeds Fund.

Section 3-24c. - Investment in Tax-Exempt Proceeds Fund by other state funds.

Section 3-24d. - Sale of investments in Tax-Exempt Proceeds Fund to other state instrumentalities.

Section 3-24e. - Investment of Tax-Exempt Proceeds Fund by the Treasurer.

Section 3-24f. - Purchase of investments in Tax-Exempt Proceeds Fund by other state instrumentalities.

Section 3-24g. - Borrowing for purposes of the Tax-Exempt Proceeds Fund. Issuance of notes.

Section 3-24h. - Borrowing from the Tax-Exempt Proceeds Fund for state capital projects.

Section 3-24i. - Notice to joint standing committee on finance, revenue and bonding of opening of bank accounts in certain other states.

Section 3-24j. - Definitions.

Section 3-24k. - Investments with community banks and community credit unions.

Section 3-24l. - Regulations.

Section 3-25. - Payment of public moneys. Designation of authority for certain payments to constituent units of the state system of higher education. Authorization for certain payments to be made by the assistant treasurer for investments.

Section 3-26. - Civil list funds; limitation.

Section 3-27. - Investment committee.

Section 3-27a. - Short Term Investment Fund. Payment of certain interest to board or boards of trustees. Participation certificates.

Section 3-27b. - Sale of certificates to state agencies.

Section 3-27c. - Use of fund for student loans.

Section 3-27d. - Investment of funds of the Short Term Investment Fund.

Section 3-27e. - Report of grants, interest, etc. Payment of expenses and state banking service fees.

Section 3-27f. - Investment by Treasurer in participation certificates. Legal investments.

Section 3-27g. - Bond issue.

Section 3-27h. - Notes.

Section 3-27i. - Bonds and notes as legal investments.

Section 3-27j. - Modification or suspension of contributions to the Short Term Investment Fund surplus reserve.

Section 3-28. - Investment of sinking fund.

Section 3-28a. - Medium-Term Investment Fund.

Section 3-29 to 3-31. - Investment of surplus of General Fund. Investment of cash balance of Transportation Fund. Investment of excess cash in General Fund.

Section 3-31a. - Authorized investments.

Section 3-31b. - Combined investment funds. Sale of participation units. Costs charged to income.

Section 3-32. - Acceptance of gifts and bequests by Treasurer.

Section 3-33. - Acceptance of land for military purposes.

Section 3-34. - Vote on stock of state bank owned by state or School Fund.

Section 3-35. - No execution against Treasurer.

Section 3-36. - Repayment of Town Deposit Fund.

Section 3-36a. - Connecticut Baby Bond Trust: Definitions.

Section 3-36b. - Connecticut Baby Bond Trust: Established.

Section 3-36c. - Treasurer's trust authority.

Section 3-36d. - Investment of funds in the trust.

Section 3-36e. - Exemption from taxation.

Section 3-36f. - Moneys invested in trust not considered assets or income.

Section 3-36g. - Accounting for designated beneficiary. Claim for accounting.

Section 3-36h. - Transfer to trust upon birth of designated beneficiary.

Section 3-36i. - Bond issue.

Section 3-37. - Annual report of Treasurer. Monthly report of Treasurer.

Section 3-38. - Posthumous fund of Fitch's Home for the Soldiers. Fitch Fund. Use of income, and payment of claims from principal.

Section 3-39. - Flood Fund.

Section 3-39a. - Funds to be paid state recorded as receivables.

Section 3-39b. - Interest earnings on funds.

Section 3-39c. - Interest earnings credited to certain funds and accounts.

Section 3-39j. - Achieving a better life experience program: Definitions.

Section 3-39k. - Achieving a better life experience program: Establishment. Trust. Report.

Section 3-39l. - Trust authority of the State Treasurer.

Section 3-39m. - Investment of funds in the trust.

Section 3-39n. - Exemption from certain securities laws.

Section 3-39o. - Exemption from taxation.

Section 3-39p. - State pledge for purposes of the trust.

Section 3-39q. - Compliance with requirements for trust to constitute a qualified ABLE program.

Section 3-39r. - ABLE account investments, contributions and distributions disregarded for certain programs and purposes.

Section 3-40. - Treasurer to have care and management.

Section 3-41. - School Fund interest.

Section 3-42. - Rate of interest on loans from the School Fund and Agricultural College Fund.

Section 3-43. - Loan expenses. Foreclosure costs.

Section 3-44. - Interest on overdue loans.

Section 3-45. - Loans and appraisals.

Section 3-46. - Reappraisal of securities.

Section 3-47. - Sale of real estate.

Section 3-48. - National bank stock; Treasurer attorney for state.

Section 3-49. - Debtor accounts.

Section 3-50. - Agents to give certified copies of bonds.

Section 3-51. - Annual schedule of assets.

Section 3-52. - Moneys paid on account.

Section 3-53. - Exhibition of claims against estates.

Section 3-54. - Mortgagor's affidavit of title.

Section 3-55. - Waste on mortgaged premises.

Section 3-55i. - Mashantucket Pequot and Mohegan Fund.

Section 3-55j. - Payments from fund.

Section 3-55k. - Municipality defined.

Section 3-55l. - Additional payments from fund to Ledyard, Montville, Norwich, North Stonington and Preston.

Section 3-56. - Definitions.

Section 3-56a. - Definitions.

Section 3-57. - Escheat of property unclaimed or unused for seven years.

Section 3-57a. - Property held by banking or financial organization presumed abandoned, when.

Section 3-58. - Sale of escheated property.

Section 3-58a. - Funds held by insurance company presumed abandoned, when.

Section 3-59. - Petition in case of interest in escheated property. Appeal.

Section 3-59a. - Property held by a business association or payable in the course of demutualization of an insurance company presumed abandoned, when.

Section 3-59b. - Ownership interest in business association presumed abandoned, when.

Section 3-59c. - Duties of holder of abandoned interests in business associations.

Section 3-59d. - Delivery of duplicate certificate to Treasurer. Holder relieved of liability to others upon such delivery.

Section 3-60. - Examination of witnesses.

Section 3-60a. - Property distributable on dissolution of business presumed abandoned, when. Notice to shareholder of corporate dissolution or liquidation.

Section 3-60b. - Wages, salary or other compensation for personal services presumed abandoned, when.

Section 3-60c. - Deposit, refund or other sum owed by utility presumed abandoned, when.

Section 3-60d. - Value of gift certificate presumed abandoned, when.

Section 3-61. - Action against custodian of property.

Section 3-61a. - Property held by fiduciary presumed abandoned, when.

Section 3-62. - Application of provisions.

Section 3-62a. - Property held by public body or officer presumed abandoned, when.

Section 3-62b. - Property held by federal court or agency presumed abandoned, when.

Section 3-62c. - Proceedings to recover property.

Section 3-62d. - Action to obtain decree of escheat.

Section 3-62e. - Treasurer to pay costs and deposit funds into General Fund.

Section 3-62f. - Claim for return of escheated property.

Section 3-62g. - Liability of state.

Section 3-62h. - Special Abandoned Property Fund. Deposit of abandoned property receipts. Special obligation bond authorization. Disbursement of resources of fund.

Section 3-63. - Notice of inactive bank accounts. Index. Interest. Escheat.

Section 3-63a. - Property in decedent's estate presumed abandoned, when.

Section 3-64. - Escheating of trust funds held by the Treasurer.

Section 3-64a. - Property presumed abandoned generally.

Section 3-65. - Conversion of escheated property into cash.

Section 3-65a. - Duties of holder of abandoned property.

Section 3-65b. - Assessment of interest penalty for failure to report or deliver abandoned property as required. Exceptions.

Section 3-65c. - Charge, fee or penalty for inactivity prohibited.

Section 3-66. - Escheat of unclaimed life insurance company funds. Definitions.

Section 3-66a. - Maintenance of searchable list and provision of notice by Treasurer.

Section 3-66b. - Unclaimed intangible property. Conditions raising presumption of abandonment.

Section 3-66c. - Recovery of funds or property.

Section 3-67. - When funds escheat.

Section 3-67a. - State responsibility for property. Reimbursement of prior holder for payment to holder. Reimbursement of holder compelled to register transfer of original certificate.

Section 3-68. - Report of unclaimed funds.

Section 3-68a. - Sale of property by Treasurer.

Section 3-69. - Notice.

Section 3-69a. - Deposit of funds in General Fund and Citizens' Election Fund.

Section 3-70. - Payment to Treasurer.

Section 3-70a. - Claims for abandoned property.

Section 3-71. - State to assume custody and liability.

Section 3-71a. - Appeals.

Section 3-72, 3-72a and 3-73. - Funds to be paid to General Fund and special trust fund. Escheat proceedings. Claim; appeal; bond.

Section 3-73a. - Excepted property.

Section 3-73b. - Effect of expiration of limitation period or period specified in contract.

Section 3-74. - Payment of claim.

Section 3-74a. - Regulations. Agreements and enforcement with other states.

Section 3-76a. - Short title: Municipal Bond Refunding Trust Act.

Section 3-76b. - Statement of purpose and policy.

Section 3-76c. - Definitions.

Section 3-76d. - Issuance of state special obligation bonds authorized to finance purchase of municipal refunding bonds; bond determination requisites.

Section 3-76e. - Effect of filing of bond determination. Limits on Treasurer's contracts.

Section 3-76f. - Terms of special obligation bonds determined by State Treasurer.

Section 3-76g. - Optional provisions to secure payment of special obligation bonds.

Section 3-76h. - Additional powers of State Treasurer.

Section 3-76i. - Form of special obligation bonds.

Section 3-76j. - Special obligation bonds not general obligations of the state.

Section 3-76k. - Special obligation bonds as legal investments: Tax exemptions.

Section 3-76l. - Municipal Refunded Bond Escrow Fund. State Treasurer's contracts re municipal accounts in fund.

Section 3-76m. - Municipal Refunding Trust Fund. Required reserve. General Fund appropriations.

Section 3-76n. - Validity of pledges.

Section 3-76o. - State pledges to holders of special obligation bonds.

Section 3-76p. - Principal amounts of special obligation bonds not part of state indebtedness.

Section 3-76q. - Default by state, remedies of municipalities, holders.

Section 3-76r. - Municipal refunding bonds. Requisites. Proceeds. Excluded from aggregate municipal indebtedness. Presumption re authorization.

Section 3-76s. - Defaults in principal or interest payments on municipal refunding bonds; remedies.

Section 3-76t. - Transfer of interest subsidy under section 10-292m.