§ 7727. Provisions of Depository Contracts
TITLE 1: GOVERNMENT DIVISION 7: PLANNING, BUDGETING AND AUDITING § 7727. Provisions of Depository Contracts. Any acceptance by a depository of government funds shall constitute an ac- ceptance of the provisions of 1 CMC § 7723 and those provisions shall be deemed a part of and incorporated into the contract of deposit without necessity for specific mention thereof. The secretary shall file with the Public Auditor a copy of formal written contracts of deposit which may be entered into. Source: PL 9-13, § 4, modified. Commission Comment: With respect to PL 9-13, see the comment to 1 CMC § 7723. The “secretary” referred to in this section is the Secretary (for- merly the Director) of Finance; see Executive Order 94-3 (effective August 23, 1994), reorganizing the executive branch, changing agency names and official titles, and effecting other changes, set forth in the Commission comment to 1 CMC § 2001.
Source: CNMI Law Revision Commission