Section 5-17-29 - Deposit of money in depositories--Custodian not liable for losses. - South Dakota Statutes

5-17-29. Deposit of money in depositories--Custodian not liable for losses. The secretary-treasurer or his designees shall deposit all moneys received by him in depositories to be designated by the State Cement Plant Commission and he or the sureties on his official bond shall not be liable for funds so deposited for any such funds lost on account of the failure or insolvency of such depositories.

Source: SL 1925, ch 282, § 2; SL 1927, ch 199, § 2; SDC 1939, § 55.3308; SL 1975, ch 55, § 3.