(A) All fines or forfeitures collected upon conviction or upon the forfeiture of bail of any person charged with a violation of any of the provisions of this traffic code shall be paid into the town treasury and deposited in the General Fund.
(B) Failure, refusal or neglect on the part of any judicial or other officer or employee receiving or having custody of any such fine or forfeiture, either before or after a deposit in the General Fund, to comply with the foregoing provisions of this section shall constitute misconduct in office and shall be grounds for removal therefrom.