20 NCAC 01C .0402         DISBURSING ACCOUNTS

(a)  Disbursing accounts are maintained in a manner similar to regular checking accounts in commercial banks.

(b)  All agencies for whom a disbursing account has been established are required to reconcile the monthly statements of the disbursing account within 15 days of the date of the statement.

(c)  Stop payments are accepted only when submitted on the authorized form.  At the sole discretion of the State Treasurer or his authorized representative, stop payments by phone may be accepted in critical situations, if the required form is submitted concurrently.

(d)  The State Treasurer shall collect all alleged forgeries of state warrants, provided that the State Treasurer is notified of the forgery in a timely manner.

History Note:        Authority G.S. 143A‑31;

Eff. September 15, 1977;

Amended Eff. March 1, 1985;

Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. April 5, 2016.