§237. Monthly statements from state depositories
The president or cashier of each state depository bank or trust company, on the first day of each month, shall cause a statement over his official signature to be furnished to the various officials and budget units having money on deposit in the depository, showing the amount of public moneys received and paid out of the depository during the preceding month and the balance then remaining to the credit of the official or budget unit. Any state depository which fails or refuses to comply, in any month, with the provisions of this section shall be notified, in writing by mail, on or before the tenth day of the month, of such failure or refusal, and be requested so to comply by the interested official or budget unit. Any state depository which persists in such failure or refusal for a period of ten days after the mailing of the notice and request, shall be disqualified as a state depository, and the treasurer and the other budget units shall forthwith withdraw the state's deposits in the depository by transfer to some other depository. Any bank or trust company disqualifying hereunder as a state depository shall be ineligible for designation again as a state depository for two years thereafter.
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