1. A. All bonds and interest coupons redeemed by the State Treasurer and a duplicate of each and every receipt issued for monies received into the State Treasury, shall be delivered immediately to, and receipted for, by the Director of State Finance who shall maintain such documents as a permanent record of his or her office. It shall be the duty of the Director of State Finance to audit such redeemed documents and to apportion and distribute the collections as indicated by the State Treasury receipts to the respective funds and account to which the same shall have accrued, or may belong. All warrants and checks redeemed by the State Treasurer shall be maintained by the State Treasurer in accordance with the provisions of Sections 305 through 317 of Title 67 of the Oklahoma Statutes. In the event that nonpayable warrants are issued pursuant to the provisions of Section 23 of Article X of the Constitution of the State of Oklahoma, it shall be the duty of the Director of State Finance to issue and publish the official call for payment for any warrants that may be outstanding and registered as "nonpayable". Notice of such call shall be published in some newspaper of general circulation, published at the seat of government, and interest on all warrants so called for payment shall cease on or after ten (10) days from the date of the first publication of such notice. The Director of State Finance shall be responsible for the custody of claims certified for payment which call for the disbursement of money from the Treasury. Such claims shall be maintained in files accessible to the Division of Central Accounting and Reporting and the employees of the Division of Central Accounting and Reporting shall have authority to inspect such claims for the purpose of making accounting adjustments on the records maintained by the Director of State Finance.
2. B. All warrants, checks or orders issued by the State Treasurer against claims submitted through the Director of State Finance in payment of obligations of the state which shall for any cause remain outstanding or unpaid for a period of ninety (90) days after funds are available for their payment shall be revoked and canceled. The Director of State Finance shall forthwith make proper entry thereof on the records of his or her office and shall notify both the State Treasurer and the administrative head of the agency certifying the claim for payment of the fact of such entry of cancellation. Thereafter, no such warrants shall be paid except that the holder of any warrant that may be canceled pursuant to the provisions of this section, may, within thirty-six (36) months following the month in which the warrant was canceled, present the warrant or an affidavit of loss or destruction, and a request for reissue to the Director of State Finance who shall on the third Monday of each month certify a claim for payment of those verified unpaid requests presented during months past. If, for any reason, a warrant should not be issued to replace a warrant canceled pursuant to the provisions of this section, the administrative head of the agency originally certifying the claim for payment shall, within seven (7) days after notification of the cancellation, advise the Director of State Finance that a reissue should not be made. Warrants issued or caused to be issued by the Department of Human Services for public assistance or medical assistance may be reissued at any time within three (3) years after cancellation upon submission of the canceled warrants to the Department, provided the three-year limitation shall not apply to warrants issued prior to May 1, 1992.
3. C. There is hereby created in the State Treasury a fund to be known as the Canceled Warrant Fund. The Director of State Finance shall transfer to the Canceled Warrant Fund the total of the payable amounts of the warrants canceled pursuant to the provisions of this section from the funds and accounts against which the canceled warrants had been drawn, and shall disburse from the fund such amounts as necessary to pay warrants reissued as provided in this section. The expenditure shall be recorded in the fund and account against which the original canceled warrant was issued and disbursements from the Canceled Warrant Fund shall not be considered expenses of the state nor shall receipts to the fund be considered revenue to the state. Claims drawn against the Canceled Warrant Fund shall identify the current holder of record and the warrant number of the canceled warrant.
4. D. The Director of State Finance shall determine the minimum necessary balance to be maintained in the Canceled Warrant Fund and on the third Monday of October shall transfer the amount in excess of the required minimum balance to the General Revenue Fund of the current year. The minimum balance retained shall be not less than the total amount of the warrants canceled by statute within the past thirty-six (36) months preceding October 1 of each year and which remain eligible for replacement according to the records of the Office of State Finance.

Laws 1947, SB 36, c. 1c, § 19, emerg. eff. February 25, 1947; Amended by Laws 1979, HB 1020, c. 47, § 48, emerg. eff. April 9, 1979; Amended by Laws 1980, HB 1815, c. 105, § 1, emerg. eff. July 1, 1980; Amended by Laws 1982, HB 1820, c. 39, § 1, emerg. eff. March 26, 1982; Amended by Laws 1988, HB 1553, c. 277, § 6, emerg. eff. July 1, 1988; Amended by Laws 1989, SB 343, c. 367, § 1, emerg. eff. July 1, 1989; Amended by Laws 1989, HB 1373, c. 171, § 1; Repealed by Laws 1990, HB 2361, c. 337, § 26; Amended by Laws 1992, SB 857, c. 152, § 1, emerg. eff. May 1, 1992; Amended by Laws 1996, HB 1788, c. 290, § 8, emerg. eff. July 1, 1996.