§ 105. Deposits in banks. 1. All moneys received by the commissioner\nof taxation and finance on account of the state, excepting such moneys\nas are required by law to be deposited to the credit of the comptroller,\nbut including such moneys as are thereafter paid into the state treasury\nby the comptroller, shall be deposited by the commissioner of taxation\nand finance within three business days after the receipt thereof, either\nas a demand deposit or an interest-bearing time deposit (other than a\ntime certificate of deposit), as the commissioner and the comptroller\nmay determine, in such banks, trust companies and industrial banks as in\nthe opinion of the commissioner and the opinion of the comptroller are\nsecure. The moneys so deposited shall be placed to the account of the\ncommissioner of taxation and finance. The commissioner shall keep a\nbankbook in which shall be entered their account of deposit in and\nmoneys drawn from the banks and trust companies and industrial banks in\nwhich deposits are made by the commissioner, which they shall exhibit to\nthe comptroller for inspection on the first Tuesday of every month and\noftener if required. The commissioner shall not draw any moneys from\nsuch banks, trust companies or industrial banks unless by checks signed\nand countersigned in the manner prescribed by section one hundred one,\nunless otherwise provided by law. No moneys shall be paid by any such\nbank, trust company or industrial bank out of any such deposit except\nupon such checks. Moneys may be paid through electronic transfer in\naccordance with procedures developed by the commissioner of taxation and\nfinance and the comptroller and consistent with the requirements of this\nsection for recording payments. Such payments through electronic\ntransfer shall be considered, for purposes of this chapter, to be moneys\ndrawn by check. Every such bank, trust company or industrial bank shall\ntransmit to the comptroller monthly statements of all moneys received\nand paid by it on account of the commissioner of taxation and finance.\n 2. Every bank, trust company and industrial bank designated for the\ndeposit of state moneys under the provisions of this section shall,\nbefore deposits are made:\n a. Execute and file with the commissioner of taxation and finance a\nbond to the state in such form and with such surety or sureties for such\nsums as may be prescribed and approved by the commissioner of taxation\nand finance and comptroller, for the safekeeping and prompt payment of\nsuch moneys on legal demand therefor with interest, if any; or\n b. In lieu of such surety bond, with the permission of the comptroller\nand the commissioner of taxation and finance, deposit with the\ncomptroller outstanding unmatured:\n (1) bonds or notes of the United States of America, or obligations,\nthe payment of which is guaranteed by the United States of America,\n (2) bonds or notes of the state of New York,\n (3) bonds or notes of any county, town, city, village, fire district\nor school districts in the state of New York authorized to be issued by\nlaw,\n (4) bonds of the Port of New York Authority of any year,\n (5) bonds of the Buffalo and Fort Erie Public Bridge Authority,\n (6) bonds of the Triborough bridge and tunnel authority,\n (7) bonds or notes of the New York state thruway authority,\n (8) bonds, notes or other obligations of any municipal housing\nauthority in the state of New York authorized to be issued by law,\nprovided such bonds, notes or other obligations qualify under the\nprovisions of section forty-nine of the public housing law,\n (9) bonds or notes of the Power Authority of the state of New York,\n (10) bonds or notes of the Niagara Frontier Port Authority,\n (11) bonds or notes of the Dormitory Authority of the state of New\nYork,\n (12) bonds or notes of the New York state bridge authority,\n (13) bonds or notes issued for any of the corporate purposes of the\nNew York state housing finan
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