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§ 390.10. Moneys of the authority

Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and Commerce

Purdon's Pennsylvania Statutes and Consolidated Statutes
Title 73 P.S. Trade and Commerce (Refs & Annos)
Chapter 12A. Minority Business Development Authority Act (Refs & Annos)
73 P.S. § 390.10
§ 390.10. Moneys of the authority
All moneys of the authority from whatever source derived shall be paid to the treasurer of the authority. Said moneys shall be deposited in the first instance by the treasurer in one or more banks or trust companies, in one or more special accounts, and each of such special accounts shall be continuously secured by a pledge of direct obligations of the United States of America or of the Commonwealth, having an aggregate market value, exclusive of accrued interest, at all times at least equal to the balance on deposit in such account. Such securities shall either be deposited with the treasurer or be held by a trustee or agent satisfactory to the authority. All banks and trust companies are authorized to give such security for such deposits. The moneys in said accounts shall be paid out on the warrant or other order of the treasurer of the authority, or of such other person or persons as the authority may authorize to execute such warrants or orders.


1974, July 22, P.L. 598, No. 206, § 10, imd. effective.
73 P.S. § 390.10, PA ST 73 P.S. § 390.10
Current through the end of the 2023 Regular Session. Some statute sections may be more current, see credits for details.
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