{"data":{"id":"us-ok/okla.-stat.-tit.-62-62-34.57","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 62, § 62-34.57","heading":"Agency clearing accounts - Deposits - Transfers -","body":"Exemptions.\n\nA. There is hereby created in the official depository in the\n\nState Treasury an agency clearing account for each state officer,\n\ndepartment, board, commission, institution or agency of the state,\n\nhereinafter referred to collectively as state agencies. An agency\n\nspecial account established under Section 7.2 of this title may be\n\nused for the purposes of an agency clearing account.\n\nB. It shall be the duty of each state agency, officer or\n\nemployee, to deposit in the agency clearing account, or agency\n\nspecial account, established under Section 7.2 of this title, all\n\nmonies of every kind, including, but not limited to:\n\n1. Tax revenues;\n\n2. Receipts from licenses, examinations, per diem and all other\n\nreimbursements, fees, permits, fines, forfeitures and penalties; and\n\n3. Income from money and property, grants and contracts,\n\nrefunds, receipts, reimbursements, judgments, sales of materials and\n\nservices of employees, and nonrevenue receipts, received by a state\n\nagency, officer or employee by reason of the existence of and/or\n\noperation of a state agency.\n\nC. All such monies collected pursuant to this section shall be\n\ndeposited as follows in the agency clearing account or agency\n\nspecial account established therefor:\n\n1. Receipts of One Hundred Dollars ($100.00) or more shall be\n\ndeposited on the same banking day as received; and\n\n2. Receipts of less than One Hundred Dollars ($100.00) may be\n\nheld until accumulated receipts equal One Hundred Dollars ($100.00)\n\nor for five (5) business days, whichever occurs first, and shall\n\nthen be deposited no later than the next business day.\n\na. Each state agency that has custody of receipts of less\n\nthan One Hundred Dollars ($100.00) shall provide\n\nadequate safekeeping of such receipts.\n\nb. No disbursements shall be made from such receipts\n\nprior to this deposit.\n\nc. All checks received must be restrictively endorsed\n\nimmediately upon receipt.\n\nD. The State Treasurer is authorized to accept deposits\n\ndirectly to State Treasury funds, consisting of cash, bank drafts,\n\nbank cashier's checks, federal treasury checks and other forms of\n\nremittance which are uniformly honored for payment. The State\n\nTreasurer is further authorized to accept checks deposited directly\n\ninto State Treasury funds if the depositing state agency maintains\n\nsufficient balances in their agency clearing account to cover return\n\nitems. Notwithstanding the provisions of subsection E of this\n\nsection, state agencies are authorized to maintain sufficient\n\nbalances in their agency clearing account to cover returned checks,\n\ncredit card adjustments, credit card returns, and other debit items.\n\nAmounts of said balances shall be subject to approval by the State\n\nTreasurer.\n\nAll checks, drafts, orders and vouchers so deposited shall be\n\ncredited and cleared at par and should payment be refused on any\n\nsuch check, draft, order or voucher, or should the same prove\n\notherwise worthless, the amount thereof shall be charged by the\n\nState Treasurer against the account or fund theretofore credited\n\nwith the same; and the person issuing the check, draft, order or\n\nvoucher shall be charged a fee of Twenty-five Dollars ($25.00) to\n\ncover the costs of processing each returned check; provided, such\n\ncharge shall not be made unless efforts have been made to present\n\nsuch check, draft, order or voucher for payment a second time.\n\nUnless otherwise provided by law, such fee shall be deposited to the\n\nrevolving fund of the state agency to which the check, draft, order\n\nor voucher was issued. If no revolving fund exists for the state\n\nagency, then such fee shall be deposited to the General Revenue\n\nFund. The State Treasurer shall not accept for deposit to any\n\nagency clearing account, or any agency special account, created\n\npursuant to the provisions of Section 7.2 of this title, any\n\nwarrant, check, order or voucher drawn against any state fund or\ndraft, order\n\nor voucher was issued. If no revolving fund exists for the state\n\nagency, then such fee shall be deposited to the General Revenue\n\nFund. The State Treasurer shall not accept for deposit to any\n\nagency clearing account, or any agency special account, created\n\npursuant to the provisions of Section 7.2 of this title, any\n\nwarrant, check, order or voucher drawn against any state fund or\n\naccount in favor of any individual or other person except the state\n\nofficer, department, institution or agency for which account or fund\n\nthe deposit is made, or a bona fide student enrolled at any of the\n\nstate institutions of higher learning when such warrant, check,\n\norder or voucher is endorsed to the institution as payment of any\n\nfees or other accounts due such institution.\n\nE. 1. Except as provided in paragraph 2 of this subsection, at\n\nleast once each month each state agency shall transfer monies\n\ndeposited in agency clearing accounts to the various funds or\n\naccounts, subdivisions of the state, or functions as may be provided\n\nby statute and no money shall ever be disbursed from the agency\n\nclearing account for any other purpose, except in refund of\n\nerroneous or excessive collections and credits.\n\n2. District offices under the control of the Corporation\n\nCommission shall be permitted to make deposit of receipts on a\n\nmonthly basis, provided that such receipts must be deposited within\n\nthe month received or when such receipts equal or exceed One Hundred\n\nDollars ($100.00), whichever first occurs. The Oklahoma Tourism and\n\nRecreation Department and entities under its control shall be\n\nrequired to make deposit of receipts on a weekly basis, provided\n\nthat such receipts must be deposited within seven (7) calendar days\n\nfrom the date received or when such deposits equal or exceed Five\n\nHundred Dollars ($500.00), whichever first occurs.\n\nF. Funds and revenues of the Oklahoma Municipal Power\n\nAuthority, the Grand River Dam Authority, the Oklahoma Ordnance\n\nWorks Authority and the Midwestern Oklahoma Development Authority\n\nare exempt from the requirements of this section.\n\nG. Monies used for investment purposes by the Oklahoma\n\nFirefighters Pension and Retirement System, the Oklahoma Police\n\nPension and Retirement System, the Uniform Retirement System for\n\nJustices and Judges, the Oklahoma Law Enforcement Retirement System,\n\nthe Oklahoma Public Employees Retirement System, the Teachers'\n\nRetirement System of Oklahoma, the Oklahoma State Regents for Higher\n\nEducation, the State and Education Employees Group Insurance Board\n\nand the Commissioners of the Land Office are exempt from the\n\nrequirements of this section, and shall be placed with the\n\nrespective custodian bank or trust company.","path":["OK Code","Title 62"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os62.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"318467735ac8708320422324119e7f7760d9010d3479bb9ec0c8a126c0bd3131","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-62-62-34.56","next":"us-ok/okla.-stat.-tit.-62-62-34.59"},"notice":"GroundRules: Original legal text. Not legal advice."}