Section 16-54-9
Treasurer – Removal.
Whenever the funds in the hands of the treasurer or funds about to be received by the office are in danger of being lost, the trustees or president may remove the treasurer from office and take all funds and choses in action belonging to the university or any student therein, and may, in that event, appoint a temporary custodian with bond or security to hold such funds.
(School Code 1927, §508; Code 1940, T. 52, §464; Acts 1979, No. 79-225, p. 342, §1.)