§46-53 Loans to the State. When there are county moneys which in the judgment of the county director of finance are in excess of the amounts necessary for the immediate county requirements, the county director of finance may, with the approval of the director's council, make temporary loans therefrom to the State if in the director's judgment the action will not impede or hamper the necessary financial operations of the county. The loans to the State may be made without interest, or at such rates of interest, and upon such other terms and conditions, as may be agreed upon between the county director of finance, and the state director of finance and as may be approved by the council and the governor. The loans shall be made only upon the request of the state director of finance, approved by the governor, and they shall be repayable upon the demand of the county director of finance. [L 1945, c 133, §2; RL 1955, §138-18; am L Sp 1959 2d, c 1, §14; am L 1963, c 114, §1; HRS §46-53; gen ch 1985]
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