Magistrate court clerks or circuit clerks acting in that capacity, subject to the rules and regulations of the Supreme Court of Appeals, may establish and maintain interest-bearing checking accounts in secure and properly insured financial institutions for the deposit and disbursement of all moneys collected by the magistrate court. In addition to making other remittances as required by law, the clerk of each magistrate court shall, on a monthly basis, remit all interest earned on such accounts to the State Treasurer for deposit in the state General Revenue Fund.
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