New York Codes, Rules and Regulations
Title 2 - DEPARTMENT OF AUDIT AND CONTROL
Chapter I - Audit Of Revenues And Accounts Payable From State Funds And Funds Under Its Control
Part 14 - Revenues And Refunds
Section 14.3 - Deposits of moneys in banks

Universal Citation: 2 NY Comp Codes Rules and Regs ยง 14.3
Current through Register Vol. 46, No. 12, March 20, 2024

Moneys received by any State agency for subsequent payment into any fund in the custody of the State Treasury, and moneys received by custodian of special funds in which the State has an interest, direct or indirect, or under the control of the State, shall be deposited, daily if possible, and not later than once a week, in a bank or trust company of the State. When required by law (see State Finance Law, §§105, 106 ), such deposits shall be in a depository approved by the Comptroller and shall be secured by bonds. Moneys include cash, checks, bond coupons, etc. All such receipts shall be deposited in a bank, and any payments therefrom, if authorized, shall be only by check on the bank of deposit.

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