Section 11-43-122 Public Depositories; Liability for Loss.
The council may direct qualified public depositories for public money, and the treasurer must deposit the money there. The council may also require interest and security. If the deposit was made under an ordinance and the treasurer exercised due care, the treasurer and bondsmen are not further liable for resulting loss
- Jurisdiction
- United States — Alabama
- Instrument
- Act or statute
- Version
- Undated source snapshot
- Language
- en
- Official source
- View official record ↗
Statute overview
About this statute
The council may direct qualified public depositories for public money, and the treasurer must deposit the money there. The council may also require interest and security. If the deposit was made under an ordinance and the treasurer exercised due care, the treasurer and bondsmen are not further liable for resulting loss.
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Section 11-43-122 Public Depositories; Liability for Loss.
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