7-6-4124. Procedure to close inactive accounts. (1) Whenever the governing body of any city or town considers it necessary to remove inactive accounts from its records when the accounts do not have any further purpose, it is lawful for the governing body to direct the proper city or town officials to file claims against the respective inactive funds in favor of the general fund of the city or town, after which the governing body shall allow the claims and cause the inactive funds to be closed and not continued in the record of active funds.
     (2) This section does not apply to a city or town that has adopted the alternative accounting method provided for in Title 7, chapter 6, part 6.

     History: En. Sec. 1, Ch. 57, L. 1939; R.C.M. 1947, 11-809; amd. Sec. 45, Ch. 430, L. 1995; amd. Sec. 7, Ch. 458, L. 1997.