§ 69-a. Interest to be paid and collected on all deposits of public\nmoneys amounting to one thousand dollars or more. Within twenty days of\nthe taking effect of this section, interest shall be required to be\npaid, if not already so provided by law, on all deposits of public\nmoneys amounting to one thousand dollars or more made by a state, local\nor other public officer or employee for or on behalf of the state or the\ncounty, city, town, village, school district or other public\ninstrumentality or for or on behalf of any pension system or fund\nmaintained by law for any of the employees of the state, county, city,\ntown, village, school district or other public instrumentality, as the\ncase may be, to which such moneys belong. Within twenty days after this\nsection takes effect and,
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§ 69-a. Interest to be paid and collected on all deposits of public\nmoneys amounting to one thousand dollars or more. Within twenty days of\nthe taking effect of this section, interest shall be required to be\npaid, if not already so provided by law, on all deposits of public\nmoneys amounting to one thousand dollars or more made by a state, local\nor other public officer or employee for or on behalf of the state or the\ncounty, city, town, village, school district or other public\ninstrumentality or for or on behalf of any pension system or fund\nmaintained by law for any of the employees of the state, county, city,\ntown, village, school district or other public instrumentality, as the\ncase may be, to which such moneys belong. Within twenty days after this\nsection takes effect and, in the case of public officers or employees\nhereafter elected or appointed within twenty days after entering upon\nthe duties of his office or employment, every public officer or employee\ncharged with the care and custody of public moneys and/or of moneys\nentrusted to his care and custody by virtue of his office or employment\nshall agree with the depositary thereof upon the rate of interest to be\npaid thereon and such rate of interest shall thereupon and thereafter be\npaid by said depositary at such time or times as shall be agreed upon.\nAll interest on such deposits shall be accounted for by the depositing\nofficer or employee in the same manner as other moneys received by such\nofficer or employee by virtue of his office or employment.\n Nothing contained in this section or in any other general or special\nlaw shall authorize, enable or require any state, local or other public\nofficer or employee, to demand or require of any banking corporation or\nprivate banker, any agreement to pay, or payment of, interest upon any\ndeposit of public moneys or any deposit made for or on behalf of the\nstate or the county, city, town, village, school district or other\npublic instrumentality, board, agency or authority, or for or on behalf\nof any pension system or fund maintained by law for any of the employees\nof the state, county, city, town, village, school district or other\npublic board, agency, instrumentality or authority, as the case may be,\nif payment of interest upon any such deposit is at the time prohibited\nby state or federal law or by any regulation of either the\nsuperintendent of financial services of this state, or of the board of\ngovernors of the federal reserve system, or of the board of directors of\nthe Federal Deposit Insurance Corporation.\n