TITLE 39. PUBLIC FINANCE

SUBTITLE II. LOCAL FINANCE

CHAPTER 7. LOCAL DEPOSITORIES

PART II. SPECIAL PROVISIONS FOR CITIES OVER ONE HUNDRED FIFTY THOUSAND POPULATION

39:1244      Responsibility of depositing authorities for funds deposited; for collateral

 Neither the commissioners of public finance, nor the finance officers of cities located in this state having a population exceeding one hundred fifty thousand, nor any department, board, commission, or institution thereof, nor any other depositing authority named in this Part which has complied with the provisions contained herein, shall be responsible for any funds deposited in depositories selected by the commission councils or governing bodies of the cities; but all depositing authorities shall be responsible for the safe keeping and returning of the collateral deposited with them by fiscal agent banks as security for the deposits by them made with the depositories.