9-1406.   Exemption from liability for loss by official depository.No public officer nor the sureties upon such officer's bond shall beliable for any loss sustained by the failure or default of any designateddepository or depositories after a deposit or deposits have been made in anofficially designated bank, savings and loanassociation or savings bank as provided in this act.This exemption from liability shall apply even though other statutes shallrequire the furnishing of a bond or other securities by the designateddepositories of public moneys.This exemption shall also apply whenever a public officer, municipalcorporation or quasi-municipal corporation has acted in good faith to complywith 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.