The officers and agencies of this State and its subdivisions having authority to place children are empowered to enter into agreements with appropriate officers or agencies of or in other party states pursuant to item (b) of Subsection 5 of the Interstate Compact on the Placement of Children. Any agreement which contains a financial commitment or imposes a financial obligation of this State or subdivision or agency of it is not binding unless it has the approval in writing of the State Treasurer in the case of the State and of the Commissioner of the Department of Social Services in the case of a subdivision of the State, as their respective functions and duties may appear and be appropriate pursuant to this article.
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