The Arizona Revised Statutes have been updated to include the revised sections from the 56th Legislature, 1st Regular Session. Please note that the next update of this compilation will not take place until after the conclusion of the 56th Legislature, 2nd Regular Session, which convenes in January 2024.
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This online version of the Arizona Revised Statutes is primarily maintained for legislative drafting purposes and reflects the version of law that is effective on January 1st of the year following the most recent legislative session. The official version of the Arizona Revised Statutes is published by Thomson Reuters.
35-1212 - Fees; public deposit administration fund
35-1212. Fees; public deposit administration fund
A. The administrator shall annually assess every eligible depository that is securing any uninsured public deposits pursuant to this chapter a fee in an amount established by the administrator for the enforcement and administration of this chapter. The fees shall fairly and equitably apply to all eligible depositories that are securing any uninsured public deposits pursuant to this chapter calculated according to the proportion of aggregate public monies that each depository holds in relation to the total of all aggregate public deposits held by those eligible depositories for each annual period. For the purposes of this subsection, monies initially invested pursuant to section 35-323.01, subsection A, paragraph 1 and deposited pursuant to section 35-323.01, subsection A, paragraph 2 shall not be included in determining the aggregate public monies held by an eligible depository that is securing any uninsured public deposits pursuant to this chapter. The administrator shall deposit the fees in the public deposit administration fund.
B. The public deposit administration fund is established in the state treasury. The fund shall consist of fees deposited pursuant to subsection A of this section and all interest earned on the investment of the monies in the fund. Any interest shall be credited at least annually to the fund. Except as otherwise provided in subsection A of this section, monies in the fund are continuously appropriated to the administrator for the administration and enforcement of this chapter. Monies in the fund are exempt from the provisions of section 35-190, relating to lapsing of appropriations. Monies shall not be appropriated from the state general fund for payment of any expenses incurred under this chapter, and the expenses shall not be charged against the state. Any monies remaining in the fund at the end of each fiscal year that exceed the cost of administering this chapter for that fiscal year shall be applied as a credit for fees assessed pursuant to this section or refunded the following calendar year to the participating eligible depositories.