Effective - 13 May 2005
30.250. Contract with depositary, terms and conditions. — 1. The state treasurer shall enter into a written contract with each depositary setting forth the conditions and terms upon which the moneys of the state are deposited therewith and containing among its provisions and conditions the following:
(1) The amount of the moneys of the state to be entrusted to each depositary;
(2) With respect to demand deposits, the time such contract shall continue with the right reserved to each the state treasurer and the depositary to terminate the contract at any time upon giving ninety days' notice to the other party of his or her or its intention to do so;
(3) With respect to time deposits, the conditions as to time and notice which need be given in regard to withdrawals and the rate of interest which the depositary shall be obligated to pay;
(4) Provisions requiring that the depositary shall:
(a) Safely keep such deposits;
(b) Pay demand deposits on the state treasurer's demand therefor; and
(c) Pay time deposits only in accordance with the contract with the depositary;
(5) That such depositary shall secure the state moneys with the amount and character of securities provided for in section 30.270, such securities to be held at the expense of the depositary;
(6) That no item of security deposited by a depositary under the terms of the contract shall be withdrawn without the written consent of the state treasurer; and that otherwise the representatives of the state of Missouri shall have the rights prescribed by sections 30.270 and 30.280;
(7) That the depositary shall, at times specified by the state treasurer, render a statement showing the daily activity in the account;
(8) That in the event the depositary shall default in any manner in performing any of the terms and conditions of the contract, or shall fail to keep safely the moneys of the state deposited with it, the state treasurer shall be authorized forthwith without notice, advertisement or demand, and at public or private sale, to convert into money the securities deposited, or as many of them as may be necessary to pay the whole amount of the state deposits in such depositary; and
(9) The contract for state funds may be for a period of up to five years.
2. Upon the execution of such contracts the state treasurer shall deliver a copy thereof to the governor, a copy thereof to the state auditor, a copy thereof to the depositary, shall file another copy with the secretary of state, and shall retain the contract in his own office.
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(RSMo 1939 § 13087, A.L. 1945 p. 1977 § 35, A. 1949 S.B. 1013, A.L. 1957 p. 484, A.L. 1973 S.B. 89, A.L. 1983 H.B. 389, A.L. 1988 H.B. 1260, A.L. 2005 S.B. 270)
Prior revisions: 1929 § 11470; 1919 § 13380; 1909 § 11881
Effective 5-13-05
Structure Missouri Revised Statutes
Section 30.005 - State treasurer, term of office, term begins, when.
Section 30.010 - Salary of treasurer.
Section 30.020 - Bond — approval.
Section 30.030 - Bond not approved, forfeiture of office — governor to take possession.
Section 30.040 - Oath of office — bond — penalty for noncompliance.
Section 30.050 - Governor to examine bond — may require new bond.
Section 30.060 - Vacancy — governor's duties.
Section 30.070 - Vacancy — governor to fill.
Section 30.080 - Vacated office — accounts settled.
Section 30.090 - Certificate of settlement to persons entitled thereto.
Section 30.100 - Duplicate certificates — one to governor.
Section 30.110 - Certificate — action of general assembly.
Section 30.130 - Liability of bond surety.
Section 30.150 - Treasurer may administer oath.
Section 30.160 - Duplicate receipts — one to commissioner of administration.
Section 30.170 - State moneys, withdrawal from depositaries and disbursal — accounts.
Section 30.180 - Warrants, how paid.
Section 30.210 - Treasurer to have access to books of other offices.
Section 30.230 - Immediate deposit in demand deposits.
Section 30.240 - Moneys and credits, how held and disbursed — interest, how credited.
Section 30.245 - Central check mailing fund created — treasurer to administer.
Section 30.250 - Contract with depositary, terms and conditions.
Section 30.255 - Deposit of funds, duties.
Section 30.270 - Security for safekeeping of state funds.
Section 30.280 - Accounts, how kept.
Section 30.286 - Authority to enter into agreements for certain services.
Section 30.290 - Liability of treasurer and depositaries.
Section 30.300 - Reports of treasurer and depositaries to governor, when — governor to compare.
Section 30.330 - Official records, retention and destruction, duties.
Section 30.350 - Monthly reports to commissioner of administration.
Section 30.360 - Quarterly statements.
Section 30.370 - Report to general assembly.
Section 30.380 - Failure to report — penalty.
Section 30.390 - Failure of depositary to make proper statement — penalty.
Section 30.400 - Treasurer not to loan money — penalty — attorney general to prosecute.
Section 30.410 - Refusal to pay lawful warrant — penalty.
Section 30.440 - No deposits in bank in which officers hold stock.
Section 30.500 - Transition funds and facilities for treasurer.
Section 30.505 - Treasurer's transition period defined.
Section 30.510 - Transition facilities to be provided for treasurer.
Section 30.600 - Certain business documents deemed closed records.
Section 30.605 - State treasurer's general operations fund created, use of moneys.
Section 30.753 - Treasurer's authority to invest in linked deposits, limitations.
Section 30.810 - Application of linked deposits law.
Section 30.820 - Limitations on linked deposit loans.
Section 30.830 - Program funding limitation.
Section 30.850 - Use of proceeds.
Section 30.950 - Definitions — written investment policy required — state treasurer's duty.
Section 30.1010 - Fund created, moneys to be deposited in fund.
Section 30.1014 - Fund created, moneys to be deposited in fund.
Section 30.1015 - Federal funds, authority of state treasurer to create and redesignate funds.