Title 45, Chapter 8, Section 1
As used in this chapter, the term:
(1) "Collecting officer" means any person who is either generally
or specifically elected, appointed, or employed, in whole or in
part, to collect any tax, revenue, or other moneys on behalf of
the state or any of its political subdivisions or on behalf of any
board, commission, bureau, or department thereof. The term shall
not mean any state, municipality, or county tax collector or
revenue agent pursuant to Title 48.
(2) "County authority" means the judge of the probate court or the
board of county commissioners or other tribunal, body, or officer
having jurisdiction over the fiscal affairs of the county.
(3) "Custodian" means the director of the Office of Treasury and
Fiscal Services or any bank, savings association, or trust company
(A) Is organized and existing under the laws of this state, any
other state, or the United States;
(B) Has executed all forms required under this chapter or any
rule adopted under this chapter;
(C) Agrees to be subject to the jurisdiction of the courts of
this state or of courts of the United States which are located
within this state for the purpose of any litigation arising out
of this chapter; and
(D) Has been approved by the director to act as a custodian;
and which holds a pool of collateral for public deposits established by a depository pursuant to Code Section 45-8-13.
(4) "Daily pool balance" means the daily balance of deposits of public funds held by a depository which balance is secured by the pooled method as specified in paragraph (2) of subsection (b) of Code Section 45-8-13. Insured deposits and deposits of public funds for which no collateral is required under subsection (b) or (d) of Code Section 45-8-12 or special deposits and operating funds for which collateral has been duly waived pursuant to subsection (b) of Code Section 45-8-11 or paragraph (3) of Code Section 50-17-53 shall be excluded from the balance of deposits of public funds for purposes of determining the daily pool balance.
(5) "Default" includes, without limitation, the failure or refusal
of a public depository to pay any check or warrant drawn upon
sufficient and collected funds by any public depositor or to
return any deposit on demand or at maturity together with interest
as agreed; the issuance of an order by any supervisory authority
restraining such depository from making payments of deposit
liabilities; or the appointment of a receiver for such depository.
(6) "Depository" means any bank designated, named, or appointed
from time to time:
(A) By the State Depository Board as qualified to serve as a depository of state funds pursuant to Code Section 50-17-50; (B) By county authorities or others as depositories for county and other public funds pursuant to Code Section 45-8-14; or
(C) By collecting officers and officers holding public funds as a depository for public funds pursuant to Code Section 45-8-11.
(7) "Director" means the director of the Office of Treasury and
(8) "Officer to hold public funds" means not only the director of
the Office of Treasury and Fiscal Services, municipality or county
treasurers, the State School Superintendent, municipality or
county school superintendents, and treasurers of school districts,
but also every other person, by whatever name or title called, who
shall be either generally or specially elected, appointed, or
employed with the duty, in whole or in part, to receive, hold, or
disburse any public money or revenue on behalf of the state or any
of its political subdivisions or on behalf of any board,
commission, bureau, or department.
(9) "Proper authority" means the officer, board, commission, or
other tribunal or body having the jurisdiction to act in the
(10) "Public body" means not only the state, municipalities,
counties, school districts, drainage districts, and other
districts created for special purposes, but also every other
political subdivision of the state and every board, bureau,
commission, and department of the state or any subdivision
thereof, as the context may require.
(11) "State authority" means the officer or officers or board,
bureau, commission, or other person or persons who, in their
official capacity, shall have, according to the laws of this
state, the duty or jurisdiction to act on behalf of the state in
the particular matter.