§38-5 - Indemnity bond from depository.
§38-5 Indemnity bond from depository.
The director with the approval of the governor, shall, if in the director's
judgment it appears necessary for the security of the State, require the
depository to give indemnity bonds, the sureties on which shall not be
interested as stockholders in the depository, to be approved by the governor
and director to secure the State against the loss of any depreciation in value
that may occur in the bonds held by the director as security for the
safekeeping and prompt payment of the money of the State in the depository. [L
1970, c 51, pt of §1; gen ch 1985]