Section 9-4-405 - Interest on collateral

Prior to default, the state treasurer, county trustee or other public official charged with the deposit of public funds and the trustee custodian, if the collateral is held by a trustee custodian, is authorized to remit to the state depository any and all interest, distributions or prepayments of any kind, upon eligible collateral pledged by such depository.Acts 1985, ch. 118, § 35; 1994, ch. 752, § 13.