12C.4 Location of depositories.
Deposits by the treasurer of state shall be in depositories located in this state; by a county officer or county public hospital officer or merged area hospital officer, in depositories located in the county or in an adjoining county within this state; by a memorial hospital treasurer, in a depository located within this state which shall be selected by the memorial hospital treasurer and approved by the memorial hospital commission; by a city treasurer or other city financial officer, in depositories located in the county in which the city is located or in an adjoining county, but if there is no depository in the county in which the city is located or in an adjoining county then in any other depository located in this state which shall be selected as a depository by the city council; by a school treasurer or by a school secretary in a depository within this state which shall be selected by the board of directors or the trustees of the school district; by a township clerk in a depository located within this state which shall be selected by the township clerk and approved by the trustees of the township. However, deposits may be made in depositories outside of Iowa for the purpose of paying principal and interest on bonded indebtedness of any municipality when the deposit is made not more than ten days before the date the principal or interest becomes due. Further, the treasurer of state may maintain an account or accounts outside the state of Iowa for the purpose of providing custodial services for the state and state retirement fund accounts. Deposits made for the purpose of completing an electronic financial transaction pursuant to section 8B.32 or 331.427 may be made in any depository located in this state.
[C24, 27, §139, 4319, 5548, 5651, 7404; C31, 35, §7420-d4; C39, §7420.04; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §453.4; 82 Acts, ch 1202, §2]
84 Acts, ch 1230, §8; 86 Acts, ch 1243, §31
C93, §12C.4
2003 Acts, ch 18, §2
; 2003 Acts, 1st Ex, ch 2, §35, 209
; 2013 Acts, ch 129, §27
Referred to in §12B.10
Structure Iowa Code
Title I - STATE SOVEREIGNTY AND MANAGEMENT
Chapter 12C - DEPOSIT OF PUBLIC FUNDS
Section 12C.1 - Deposits in general — definitions.
Section 12C.2 - Approval — requirements.
Section 12C.4 - Location of depositories.
Section 12C.5 - Refusal of deposits — procedure.
Section 12C.6 - Interest rate — committee — notice.
Section 12C.6A - Eligibility for state public funds — procedures.
Section 12C.7 - Interest — where credited.
Section 12C.8 - Liability of public officers.
Section 12C.9 - Investment of sinking funds — bond proceeds.
Section 12C.10 - Investment of funds created by election.
Section 12C.11 - Investment officer.
Section 12C.12 - Service charge by depository.
Section 12C.13 - Deposit not membership.
Section 12C.14 - School bonds and earnings.
Section 12C.15 - Restriction on requiring collateral.
Section 12C.16 - Security for deposit of public funds.
Section 12C.17 - Deposit of securities.
Section 12C.18 - Condition of security.
Section 12C.19 - Withdrawals, exchanges of security.
Section 12C.20 - Public funds reports.
Section 12C.21 - Required collateral — banks.
Section 12C.22 - Required collateral — banks.
Section 12C.23 - Payment of losses in a credit union.
Section 12C.23A - Payment of losses in a bank.
Section 12C.25 - State sinking funds created.
Section 12C.26 - Refund from sinking funds.
Section 12C.27 - Failure to maintain required collateral.
Section 12C.28 - Electronic reporting.
Section 12C.29 - Authority of superintendent to issue orders.