Bill > SB247

This bill modifies Delaware law to allow county and municipal governments more flexibility in where they deposit public funds. Specifically, it amends Title 9 of the Delaware Code, which deals with county government, to permit the receiver of taxes and county treasurer or director of finance to deposit public money not only in depository banks but also in credit unions located within the county seat. It also clarifies that these funds can be invested if deemed idle or surplus, or withdrawn for legal payments or transfers to a successor. Additionally, the bill amends Title 22 of the Delaware Code, concerning municipal government, by adding a new section that explicitly allows any municipality to deposit its revenue in either a depository bank or a credit union, overriding any conflicting provisions in the Delaware Code or a municipality's own charter.