State Codes and Statutes

Statutes > New-york > Stf > Article-12 > 182

§  182.  Deposit and investment of money paid into court. All funds or  moneys paid into court shall be deposited in such  savings  bank,  trust  company,  bank,  banking  association  or  with such banker, as shall be  designated by  the  state  comptroller,  as  soon  as  received  by  the  custodian  thereof.  But the money must be deposited in the county where  the fund belongs, where it can be done conveniently and safely and  with  advantage  to  the parties interested. All moneys so paid into court may  be invested by the several county treasurers and in the city of New York  by the commissioner of finance without a specific direction of the court  having jurisdiction,  in  securities  that  are  legal  investments  for  trustees,  when  the  said  county treasurers or commissioner of finance  deem it for the best interests of the funds to  make  such  investments.  All  moneys  paid into a court of the unified court system, other than a  town or village court, pursuant to the provisions  of  title  P  of  the  criminal  procedure  law,  which  remain  in the court's custody, shall,  during such custody, be deposited in an  interest-bearing  account,  and  all  interest thereupon received shall be paid to the state commissioner  of taxation and finance on a monthly basis no later than ten days  after  the last day of each month.

State Codes and Statutes

Statutes > New-york > Stf > Article-12 > 182

§  182.  Deposit and investment of money paid into court. All funds or  moneys paid into court shall be deposited in such  savings  bank,  trust  company,  bank,  banking  association  or  with such banker, as shall be  designated by  the  state  comptroller,  as  soon  as  received  by  the  custodian  thereof.  But the money must be deposited in the county where  the fund belongs, where it can be done conveniently and safely and  with  advantage  to  the parties interested. All moneys so paid into court may  be invested by the several county treasurers and in the city of New York  by the commissioner of finance without a specific direction of the court  having jurisdiction,  in  securities  that  are  legal  investments  for  trustees,  when  the  said  county treasurers or commissioner of finance  deem it for the best interests of the funds to  make  such  investments.  All  moneys  paid into a court of the unified court system, other than a  town or village court, pursuant to the provisions  of  title  P  of  the  criminal  procedure  law,  which  remain  in the court's custody, shall,  during such custody, be deposited in an  interest-bearing  account,  and  all  interest thereupon received shall be paid to the state commissioner  of taxation and finance on a monthly basis no later than ten days  after  the last day of each month.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Stf > Article-12 > 182

§  182.  Deposit and investment of money paid into court. All funds or  moneys paid into court shall be deposited in such  savings  bank,  trust  company,  bank,  banking  association  or  with such banker, as shall be  designated by  the  state  comptroller,  as  soon  as  received  by  the  custodian  thereof.  But the money must be deposited in the county where  the fund belongs, where it can be done conveniently and safely and  with  advantage  to  the parties interested. All moneys so paid into court may  be invested by the several county treasurers and in the city of New York  by the commissioner of finance without a specific direction of the court  having jurisdiction,  in  securities  that  are  legal  investments  for  trustees,  when  the  said  county treasurers or commissioner of finance  deem it for the best interests of the funds to  make  such  investments.  All  moneys  paid into a court of the unified court system, other than a  town or village court, pursuant to the provisions  of  title  P  of  the  criminal  procedure  law,  which  remain  in the court's custody, shall,  during such custody, be deposited in an  interest-bearing  account,  and  all  interest thereupon received shall be paid to the state commissioner  of taxation and finance on a monthly basis no later than ten days  after  the last day of each month.