67-2739. DESIGNATION OF DEPOSITORY — REPORTING OF CAPITAL AND SURPLUS. (1) The state treasurer shall designate institutions qualified under this chapter as a state depository or depositories. Such designation shall be determined by competitive bidding or by other means generally accepted as standard business practice. In no case shall the deposit or deposits of state funds in any state depository above the total covered by federal insurance exceed at any one time, in the aggregate, the total of the capital and surplus of such state depository. In the event that any bank has been designated as a depository under this chapter, such designation shall continue in force until revoked by the treasurer.
(2) Every banking corporation or national banking association designated as a state depository and holding any deposit of the funds of the state of Idaho under the provisions of this section shall, on or before beginning to hold such deposits or the effective date of this act, whichever shall be sooner, file with the state treasurer, the affidavit of one of its officers showing the amount of the capital stock and surplus of such association or corporation. In the event that such corporation or association has such an affidavit on file with the state treasurer on the effective date of this act, such affidavit or affidavits shall satisfy the requirement of this section until January 31 of the year next following the effective date of this act. Affidavits shall be effective for the purposes of this section for a period of one (1) year following the date of their filing. If such corporation or association is to continue as a designated state depository under this section, a like affidavit shall be filed in like manner for the succeeding year, on or before the date specified by the state treasurer. No such corporation or national banking association shall receive deposits from nor act as depository for the funds of the state of Idaho unless and until an affidavit as is herein required and which still continues in effect is on file with the state treasurer in accordance with this section.
(3) The state treasurer is authorized in his or her discretion and from time to time to negotiate for the payment to designated state depositories of reasonable compensation for services rendered in acting as such depositories. The method and/or rate of such compensation and the terms and conditions thereof shall be fixed by the state treasurer after such negotiation, which may include the calling for bids for specific services. All bids received, whether by a formal bidding process or by negotiation, and the compensation fixed by the treasurer, which shall be in the form of a written agreement, shall be a matter of public record.
History:
[67-2739, added I.C., sec. 67-2339, as added by 1973, ch. 66, sec. 3, p. 111; am. 1998, ch. 239, sec. 1, p. 796.]
Structure Idaho Code
Title 67 - STATE GOVERNMENT AND STATE AFFAIRS
Chapter 27 - DEPARTMENT OF FINANCE
Section 67-2701 - DEPARTMENT OF FINANCE — CREATION — DIRECTOR — ORGANIZATION — POWERS AND DUTIES.
Section 67-2702 - FEES — FINES — MISCELLANEOUS CHARGES.
Section 67-2717 - POWER TO ISSUE SUBPOENAS AND ADMINISTER OATHS — OBSTRUCTING EXAMINATION — PENALTY.
Section 67-2720 - DUTY OF ATTORNEY GENERAL TO AID DEPARTMENT.
Section 67-2723 - EXPENSES OF CARRYING OUT PROVISIONS OF STATE DEPOSITORY LAW — AUDIT AND PAYMENT.
Section 67-2724 - OFFICERS AND PERSONS AUTHORIZED TO MAKE INSPECTIONS AND EXAMINATIONS.
Section 67-2725 - BANKS ELIGIBLE AS DEPOSITORIES.
Section 67-2726 - BANKS TO WHICH OFFICIALS SECRETLY INDEBTED INELIGIBLE.
Section 67-2737 - FUNDS TO BE DEPOSITED.
Section 67-2738 - PERMANENT ENDOWMENT FUNDS TEMPORARILY IN HANDS OF TREASURER.
Section 67-2739 - DESIGNATION OF DEPOSITORY — REPORTING OF CAPITAL AND SURPLUS.
Section 67-2741 - EXCESS DEPOSITS.
Section 67-2742 - WITHDRAWAL OF MONEYS FROM DEPOSITORIES — TIME DEPOSITS.
Section 67-2743 - INTEREST ON TIME DEPOSITS.
Section 67-2743E - DISCLOSURE OR USE OF INFORMATION RELATING TO DEPOSITORIES — PENALTY.
Section 67-2744 - DEPOSITORIES TO RENDER MONTHLY STATEMENTS.
Section 67-2745 - DUTY OF TREASURER UPON RECEIPT OF NOTICE OF CANCELLATION.
Section 67-2746 - RESPONSIBILITY FOR LOSS THROUGH INSOLVENCY OF BANK.
Section 67-2746A - DEPOSIT FOR SAFEKEEPING — RESPONSIBILITY.
Section 67-2747 - TREASURER TO MAKE NO PROFIT — PENALTY.
Section 67-2748 - NEGLECT OF TREASURER A MISDEMEANOR — PENALTY.
Section 67-2749 - BRIBERY OF TREASURER A FELONY — PENALTY.
Section 67-2750 - SHORT TITLE.
Section 67-2751 - DEFINITIONS.
Section 67-2752 - FINANCIAL FRAUD ILLEGAL.
Section 67-2753 - EMPLOYMENT OR AFFILIATION OF CERTAIN PERSONS.
Section 67-2754 - POWERS OF DIRECTOR.
Section 67-2755 - INJUNCTIONS — OTHER REMEDIES.
Section 67-2756 - PRIVATE REMEDIES.
Section 67-2757 - INSTITUTION OF CRIMINAL PROCEEDINGS.
Section 67-2758 - CRIMINAL PENALTIES FOR VIOLATIONS — LIMITATION OF ACTIONS.
Section 67-2759 - CRIMINAL PUNISHMENT UNDER THIS ACT NOT EXCLUSIVE.
Section 67-2760 - JUDICIAL REVIEW OF ORDERS.
Section 67-2761 - ADMINISTRATION OF ACT — RULES, FORMS AND ORDERS.
Section 67-2762 - ADMINISTRATIVE PUBLIC HEARINGS — EXCEPTION.