Subject to applicable banking regulations or state law, the treasurer may transfer
funds by check or electronic funds transfer whenever actually needed to pay the warrants
drawn by the auditor upon the treasury, to equalize deposits or to provide funds to
purchase investments for the account of the state. All checks drawn for transfer of funds shall have printed or stamped on the face
of same “for transfer of funds only”, or if the transfer is made by electronic funds
transfer, the electronic funds transfer and supporting documents shall be marked “for
transfer of funds only”.
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