Salt Lake Telegram | 1936-04-23 | Page 22 | Ruling is Made upon Interest

RULING IS MADE UPON INTEREST Assistant Attorney General John JohnD D D. Rice Wednesday advised G G. M. M Whitmore a n member of the state liquor control commission that interest in in- interest in interest terest on daily balances of or the commission commission commission com com- mission deposited with banks is money arl arising ln in the administration tion of the liquor control act and shall be paid to the commission In his request for tor toran foran an opinion Mr Whitmore had sought to learn whether interest should be regarded as a part of oC income or should be deposited with the state treasurer It was Mr Rices Rice's contention that such funds after a reserve Is taken as provided by the act shall ahall be paid to the state treasurer 1 The law allows tho the commission to set et up a reserve out of profits and I specifics specifies a disposition of fu tun funi and above the reserve