32 V.S.A. § 502 — Monies to be paid over without deduction

(a) The gross amount of money received in their official capacities by every administrative
department, board, officer, or employee, from whatever source, shall be paid forthwith
to the State Treasurer, or deposited according to the direction of the State Treasurer
in such bank to the credit of the State Treasurer as the Treasurer shall designate,
without any deduction on account of salaries, fees, costs, charges, expenses, claim,
or demand of any description whatsoever, unless otherwise provided. Such monies shall
be credited to such funds as are now or may hereafter be designated for the deposit
thereof. Money so paid and all monies belonging to or for the use of the State shall
not be expended or applied by any department, board, officer, or employee, except
in accordance with the provisions of section 462 of this title.
(b) [Repealed.]
(c) Notwithstanding subsection (a) of this section, bank charges directly related to the
investment, management, and custodial services for State funds may be applied against
any related investment earnings resulting from the investment, management, and custodial
services provided by the financial institution. Such charges shall include only those
direct fees charged by financial institutions and as expressly approved by the State
Treasurer. The State Treasurer shall obtain and retain detailed monthly statements
from each respective financial institution of all charges assessed and such reports
shall be available for audit by the Auditor of Accounts. (Amended 1959, No. 328 (Adj. Sess.), § 8(b); 1983, No. 81, § 2; 1983, No. 195 (Adj. Sess.), § 5(b); 1987, No. 243 (Adj. Sess.), § 59, eff. June 13, 1988; 1995, No. 178 (Adj. Sess.), § 266; 1997, No. 66 (Adj. Sess.), § 65, eff. Feb. 20, 1998; 2005, No. 215 (Adj. Sess.), § 60a.)