(a) The sum of $1.75 shall be paid to the board from each fine collected and each bond forfeited and collected in any criminal or quasi-criminal case for violation of state law if the case is tried in any court of this state in which a clerk of the superior court is clerk, provided that such fine or bond is at least $5.00. The collecting authority shall pay such amounts to the board each quarter or at such other times as the board may provide. It shall be the duty of the collecting authority to keep accurate records of the amounts due the board. Such records may be audited by the board at any time. The sums remitted to the board under this Code section shall be used for the purposes provided for in this chapter. In all counties having a population of more than 600,000 according to the United States decennial census of 1990 or any such future census, where the compensation of the clerk is on a salary basis, this Code section shall not apply.

(b) If the clerk or other collecting authority whose duty it is to collect and remit moneys to the fund under subsection (a) of this Code section shall fail to remit such moneys within 60 days of the date on which such remittal is due, such moneys shall be delinquent; and there shall be imposed, in addition to the principal amount due, a specific penalty in the amount of 5 percent of the principal amount per month for each month during which the funds continue to be delinquent, provided that such penalty shall not exceed a total of 25 percent of the principal due. In addition to such penalty, interest shall be charged on the delinquent moneys at the rate of 6 percent per annum from the date such moneys became delinquent until they are paid. After April 1, 1966, all moneys which have not been paid to the fund within 60 days of the due date shall be delinquent. By affirmative vote of all members, the board, upon the payment of the delinquent moneys together with interest and for good cause shown, may waive the specific penalty otherwise charged under this subsection.