Receipt and delivery of contributions

(a) The city, town, or county treasurer or trustee shall receive and retain on deposit to the credit of the public school teachers' retirement fund each annual contribution made, as provided in this part, until the end of the fiscal year. (b) At the end of the fiscal year the contributions shall be delivered to the board of trustees, who shall receipt the treasurer or county trustee for such delivery. Acts 1917, ch. 76, § 11; Shan., § 1469b14 (p. 6545); Shan. Supp., § 1469a14; Code 1932, § 2538; T.C.A. (orig. ed.), § 49-1614. (a) The city, town, or county treasurer or trustee shall receive and retain on deposit to the credit of the public school teachers' retirement fund each annual contribution made, as provided in this part, until the end of the fiscal year. (b) At the end of the fiscal year the contributions shall be delivered to the board of trustees, who shall receipt the treasurer or county trustee for such delivery. Acts 1917, ch. 76, § 11; Shan., § 1469b14 (p. 6545); Shan. Supp., § 1469a14; Code 1932, § 2538; T.C.A. (orig. ed.), § 49-1614.