Minnesota § 427.03 DUTY OF TREASURER; EXEMPTION FROM LIABILITY

Minnesota Statutes

§ 427.03 — DUTY OF TREASURER; EXEMPTION FROM LIABILITY

Minnesota § 427.03

PartMUNICIPAL FINANCE, TAXATION, SPECIAL ASSESSMENTS

Ch. 427DEPOSITORIES, CITY AND STATUTORY CITY FUNDS

This text of Minnesota § 427.03 (DUTY OF TREASURER; EXEMPTION FROM LIABILITY) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 427.03 (2026).

Text

The treasurer of each city where depositories have been designated in accordance with sections427.02to427.07shall keep the funds of the city as far as possible in the depositories so designated and when so deposited the treasurer and the sureties on the official bond of such treasurer shall be exempt from all liability for the loss of any such funds so deposited as provided in sections427.02to427.07, if such loss is caused by the failure, bankruptcy, or any other act of default of such depository.

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The treasurer of each city where depositories have been designated in accordance with sections427.02to427.07shall keep the funds of the city as far as possible in the depositories so designated and when so deposited the treasurer and the sureties on the official bond of such treasurer shall be exempt from all liability for the loss of any such funds so deposited as provided in sections427.02to427.07, if such loss is caused by the failure, bankruptcy, or any other act of default of such depository.