§ 15.2-620. Same; powers of county treasurer; deposit of moneys.
The director of finance shall exercise the powers conferred and perform theduties imposed by general law upon county treasurers, and shall be subject tothe obligations and penalties imposed by general law. All moneys received byany county officer or employee for or in connection with county businessshall be paid promptly into the hands of the director of finance. All suchmoney shall be promptly deposited by the director of finance to the credit ofthe county in such banks or trust companies the board selects. No money shallbe disbursed or paid out by the county except upon check signed by thechairman of the board, or such other person the board designates, andcountersigned by the director of finance.
The director of finance or his authorized deputies may transfer public fundsfrom one depository to another by wire. Such officers may also draw any ofthe county's money by check or by an electronic fund wire, or by any meansdeemed appropriate and sound by the director of finance and approved by theboard, drawn upon a warrant issued by the board. If any money is knowinglypaid otherwise than upon the director of finance's check or electronic fundwire or by alternative means specifically approved by the director of financeand the board, drawn upon such warrant, the payment shall be invalid againstthe county.
The board may designate one or more banks or trust companies as a receivingor collecting agency under the direction of the department of finance. Allfunds so collected or received shall be deposited to the credit of the countyin such banks or trust companies as the board selects.
Every bank or trust company serving as a depository or as a receiving orcollecting agency for county funds shall be required by the board to giveadequate security therefor, and to meet such requirements as to interestthereon as the board may establish. All interest on money so deposited shallaccrue to the benefit of the county.
(Code 1950, § 15-320; 1954, c. 46; 1956, c. 349; 1959, Ex. Sess., c. 69;1962, cc. 399, 623, § 15.1-640; 1982, c. 647; 1991, c. 16; 1997, c. 587.)
§ 15.2-620. Same; powers of county treasurer; deposit of moneys.
The director of finance shall exercise the powers conferred and perform theduties imposed by general law upon county treasurers, and shall be subject tothe obligations and penalties imposed by general law. All moneys received byany county officer or employee for or in connection with county businessshall be paid promptly into the hands of the director of finance. All suchmoney shall be promptly deposited by the director of finance to the credit ofthe county in such banks or trust companies the board selects. No money shallbe disbursed or paid out by the county except upon check signed by thechairman of the board, or such other person the board designates, andcountersigned by the director of finance.
The director of finance or his authorized deputies may transfer public fundsfrom one depository to another by wire. Such officers may also draw any ofthe county's money by check or by an electronic fund wire, or by any meansdeemed appropriate and sound by the director of finance and approved by theboard, drawn upon a warrant issued by the board. If any money is knowinglypaid otherwise than upon the director of finance's check or electronic fundwire or by alternative means specifically approved by the director of financeand the board, drawn upon such warrant, the payment shall be invalid againstthe county.
The board may designate one or more banks or trust companies as a receivingor collecting agency under the direction of the department of finance. Allfunds so collected or received shall be deposited to the credit of the countyin such banks or trust companies as the board selects.
Every bank or trust company serving as a depository or as a receiving orcollecting agency for county funds shall be required by the board to giveadequate security therefor, and to meet such requirements as to interestthereon as the board may establish. All interest on money so deposited shallaccrue to the benefit of the county.
(Code 1950, § 15-320; 1954, c. 46; 1956, c. 349; 1959, Ex. Sess., c. 69;1962, cc. 399, 623, § 15.1-640; 1982, c. 647; 1991, c. 16; 1997, c. 587.)
§ 15.2-620. Same; powers of county treasurer; deposit of moneys.
The director of finance shall exercise the powers conferred and perform theduties imposed by general law upon county treasurers, and shall be subject tothe obligations and penalties imposed by general law. All moneys received byany county officer or employee for or in connection with county businessshall be paid promptly into the hands of the director of finance. All suchmoney shall be promptly deposited by the director of finance to the credit ofthe county in such banks or trust companies the board selects. No money shallbe disbursed or paid out by the county except upon check signed by thechairman of the board, or such other person the board designates, andcountersigned by the director of finance.
The director of finance or his authorized deputies may transfer public fundsfrom one depository to another by wire. Such officers may also draw any ofthe county's money by check or by an electronic fund wire, or by any meansdeemed appropriate and sound by the director of finance and approved by theboard, drawn upon a warrant issued by the board. If any money is knowinglypaid otherwise than upon the director of finance's check or electronic fundwire or by alternative means specifically approved by the director of financeand the board, drawn upon such warrant, the payment shall be invalid againstthe county.
The board may designate one or more banks or trust companies as a receivingor collecting agency under the direction of the department of finance. Allfunds so collected or received shall be deposited to the credit of the countyin such banks or trust companies as the board selects.
Every bank or trust company serving as a depository or as a receiving orcollecting agency for county funds shall be required by the board to giveadequate security therefor, and to meet such requirements as to interestthereon as the board may establish. All interest on money so deposited shallaccrue to the benefit of the county.
(Code 1950, § 15-320; 1954, c. 46; 1956, c. 349; 1959, Ex. Sess., c. 69;1962, cc. 399, 623, § 15.1-640; 1982, c. 647; 1991, c. 16; 1997, c. 587.)
