§ 14 — Monies of the agency

§ 14. Monies of the agency.\n 1. All monies of the agency, except as otherwise authorized or\nprovided in this act, shall be paid to the commissioner of taxation and\nfinance as agent of the agency, who shall not commingle such monies with\nany other monies. Such monies shall be deposited in a separate bank\naccount or accounts. The monies in such accounts shall be paid out on\nchecks signed by the commissioner of taxation and finance on requisition\nof the chairman of the agency or of such other officer or employee as\nthe agency shall authorize to make such requisition. All deposits of\nsuch monies shall, if required by the commissioner of taxation and\nfinance or the agency, be secured by obligations of the United States or\nof the state of a market value equal at all times to the amount of the\ndeposit and all banks and trust companies are authorized to give such\nsecurity for such deposits.\n 2. Subject to agreements with noteholders and bondholders and the\napproval of the comptroller, the agency shall prescribe a system of\naccounts.\n Notwithstanding the provisions of this section, the agency shall have\npower, subject to the approval of the commissioner of taxation and\nfinance, to contract with the holders of any of its notes or bonds as to\nthe custody, collection, securing, investment and payment of any monies\nof the agency, of any monies held in trust or otherwise for the payment\nof notes or bonds, and to carry out such contract. Monies held in trust\nor otherwise for the payment of notes or bonds or in any way to secure\nnotes or bonds and deposits of such monies may be secured in the same\nmanner as monies of the agency, and all banks and trust companies are\nauthorized to give such security for such deposits.\n 3. The comptroller, or his legally authorized representative, is\nhereby authorized and empowerd from time to time to examine the books\nand accounts of the agency including its receipts, disbursements,\ncontracts, reserve funds, sinking funds, investments, and any other\nmatters relating to its financial standing. Such an examination shall be\nconducted by the comptroller at least once in every five years; the\ncomptroller is authorized, however, to accept from the agency, in lieu\nof such an examination, an external examination of its books and\naccounts made at the request of the agency.\n 4. The agency shall submit to the governor, chairman of the senate\nfinance committee, chairman of the assembly ways and means committee and\nthe comptroller, within thirty days of the receipt thereof by the\nagency, a copy of the report of every external examination of the books\nand accounts of the agency other than copies of the reports of such\nexamination made by the comptroller.\n