The CEO or designee is responsible for ensuring that:
  (1) all funds received are deposited with the state treasurer or in an account that is insured under state or federal law.
  (2) the balance of such account does not exceed the insured limit of the financial institution; and
  (3) all funds that must be deposited in the State Treasury are deposited within three business days of receipt.

Source Note: The provisions of this §417.27 adopted to be effective April 27, 2003, 28 TexReg 3347