9-1406. Exemption from liability for loss by official depository.
9-1406
9-1406. Exemption from liability for loss by official depository.
No public officer nor the sureties upon such officer's bond shall be
liable for any loss sustained by the failure or default of any designated
depository or depositories after a deposit or deposits have been made in an
officially designated bank, savings and loan
association or savings bank as provided in this act.
This exemption from liability shall apply even though other statutes shall
require the furnishing of a bond or other securities by the designated
depositories of public moneys.
This exemption shall also apply whenever a public officer, municipal
corporation or quasi-municipal corporation has acted in good faith to comply
with the provisions of this act.
History: L. 1947, ch. 102, § 68;
L. 1983, ch. 47, § 6;
L. 1986, ch. 76, § 6;
L. 1989, ch. 48, § 45;
L. 1997, ch. 180, § 7;
L. 2000, ch. 71, § 1; July 1.