§88-124  Payment of state contributions tothe system.  (a)  The State shall pay on a monthly basis to the variousfunds of the system the amounts payable by the State under this part.  Paymentsshall be made within thirty days after the end of the month.

(b)  The system shall determine the actualamount owed by the State under this part for each fiscal quarter, commencingwith the first fiscal quarter of fiscal year 2005-2006.  The actual amountsowed by the State for the fiscal quarter shall be compared against the amountspaid in the fiscal quarter.  Any additional contributions owed by the State fora fiscal quarter shall be paid before the end of the next fiscal quarter.  Anyexcess contributions by the State may be used to offset amounts owed by the Statefor the next fiscal quarter. [L 1925, c 55, pt of §8; am L Sp 1933, c 10, §3;RL 1935, pt of §7927; am L 1935, c 48, §2; RL 1945, §712, subs 6; RL 1955,§6-100; am L Sp 1959 1st, c 13, §2; HRS §88-115; am L 1969, c 110, pt of §1; amL 2004, c 181, §4; am L 2005, c 58, §15]