Alabama § 11-43-122 Public Depositories; Liability for Loss

Alabama Statutes

§ 11-43-122 — Public Depositories; Liability for Loss

Alabama § 11-43-122

Title 11Counties and Municipal Corporations

Ch. 43Mayor and Council, Other Officers, Employees, Departments, Etc

Art. 6Treasurer

This text of Alabama § 11-43-122 (Public Depositories; Liability for Loss) is published on Counsel Stack Legal Research, covering Alabama primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ala. Code § 11-43-122 (2026).

Text

The council may direct, by ordinance or resolution, one or more qualified public depositories pursuant to Chapter 14A of Title 41 where the treasurer shall deposit public money and may require interest to be paid thereon and security to be given by the depository, but, as to deposits made under the authority of an ordinance of the council, neither the treasurer nor his bondsmen if the treasurer has exercised due care shall be further liable for any loss occasioned thereby.

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The council may direct, by ordinance or resolution, one or more qualified public depositories pursuant to Chapter 14A of Title 41 where the treasurer shall deposit public money and may require interest to be paid thereon and security to be given by the depository, but, as to deposits made under the authority of an ordinance of the council, neither the treasurer nor his bondsmen if the treasurer has exercised due care shall be further liable for any loss occasioned thereby.