2-15-503. Representation of state in bankruptcy and debt collection proceedings -- collection of fees from state agencies.
243 words·~1 min read·
/mt/title-2/chapter-15/part-5/2-15-503A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
2-15-503 . Representation of state in bankruptcy and debt collection proceedings -- collection of fees from state agencies.
(1)In all matters involving bankruptcy or collection of debts owed to the state in which the attorney general provides legal assistance to a state agency, the attorney general may charge a fee to the agency plus reimbursement for actual expenses reasonably incurred. The fee may be an hourly charge, or the attorney general may designate a percentage of collected proceeds to be retained for the costs of providing legal assistance. The fees and expenses must be reasonably related to the costs of the attorney general in providing legal assistance to state agencies in bankruptcy and debt collection matters.
(2)Fees and expenses retained by the attorney general under subsection
(1)must be deposited in an account in the internal service fund for the costs of providing legal assistance in bankruptcy and debt collection matters. Any funds in excess of the amount appropriated for operation of the bankruptcy program must be carried forward into the next fiscal year for continued operation of the program. Any excess funds carried forward into the next fiscal year, after meeting a 60-day working capital reserve, must be used to reduce the designated percentage of the collected proceeds charged to the various agencies. All amounts collected that are not applied to fees must be deposited to the account or fund of the agency to which the debt was originally owed.