Any depository designated under this chapter may resign as a depository and relinquish all public funds on deposit with the depository. The resignation is effective:

1. (1) thirty (30) days after written notice is given to the state board of finance; and
2. (2) after settlement with the state board of finance for all public funds on deposit with the depository.

As added by P.L.18-1996, SEC.22.