§12-4-12. Treasurer authorized to provide check-cashing service;
establishment and audit of cash funds.
The treasurer may provide a check-cashing service at his or
her office in the capitol building and may charge fees for the
service for each check cashed and for each check returned for
insufficient funds. For this purpose, he or she may establish from
receipts in the treasury not more than two cash funds each in an
initial amount not to exceed one hundred thousand dollars. The
treasurer shall designate certain employees in his or her office
who are to provide the service and have charge of the funds, and
may require the employees to be bonded either individually or by
blanket bonds. The cost of the bond or bonds shall be paid out of
the treasurer's current expense appropriation.
The fees received for the service shall be deposited in the
cash funds and itemized accounts of the receipts shall be
maintained. Any check determined by the treasurer to be
uncollectible shall be charged against the fund from which it was
cashed. Before the first day of July, two thousand one and at
least every three fiscal years thereafter, the legislative auditor
shall audit the cash funds and all accounts and records relating to
the service provided pursuant to this section. If the amount of
either cash fund, after charges for uncollectible checks, exceeds
one hundred thousand dollars at the conclusion of any audit, the treasurer shall transfer the excess to the general revenue fund.