Current through Register Vol. XLI, No. 50, December 13, 2024
Section 112-7-7 - Selection Procedures7.1. Each agency collecting moneys for deposit in the state treasury shall notify the Treasurer of its anticipated collections and deposits, including the extent of the activity in its accounts, size of its accounts, frequency of deposits, special services that may be needed, and any other information requested by the Treasurer. The agency may submit its preferred choice or a list of preferred choices of state depositories for receipt accounts to the Treasurer. If the agency submits a preferred choice or list, it shall also submit a statement of the reasons for its preference. However, the Treasurer is not required to select a state depository preferred by an agency.7.2. The Treasurer shall review the information submitted and consider:7.2.1. The activity of the various accounts;7.2.2. The reasonable value of the banking services to be rendered;7.2.3. The value and importance of the deposits to the economy of the communities and the various areas of the state affected; and7.2.4. The proposed fee schedule of the recommended depository, as required by Subsection 8.1 of this rule.