00                            HOUSE BILL NO. 373                                                                          
01 "An Act requiring warrants drawn by the Department of Administration against the                                        
02 state treasury to be negotiable instruments."                                                                           
03 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF ALASKA:                                                                
04    * Section 1.  AS 43.05.170 is amended to read:                                                                     
05            Sec. 43.05.170.  Payment of warrants.  A warrant drawn by the                                            
06       Department of Administration against the state treasury must be a negotiable                                  
07       instrument.  Upon presentation for payment, the department shall pay all warrants                         
08       drawn by the Department of Administration against the state treasury that [, WHICH]                           
09       have been properly endorsed and have not been cancelled by law. The commissioner                                  
10       may designate one or more agents for the purpose of redeeming state warrants [,] and                              
11       may require that these agents be used exclusively for the purpose of redeeming state                              
12       warrants.  Warrants made payable to two or more persons in an amount less than $50                                
13       may be paid if endorsed by only one of the designated payees.  In this section,                               
14       "negotiable instrument" has the meaning given in AS 45.03.104(a).