Minnesota § 427.09 FAILURE TO DESIGNATE DEPOSITORY

Minnesota Statutes

§ 427.09 — FAILURE TO DESIGNATE DEPOSITORY

Minnesota § 427.09

PartMUNICIPAL FINANCE, TAXATION, SPECIAL ASSESSMENTS

Ch. 427DEPOSITORIES, CITY AND STATUTORY CITY FUNDS

This text of Minnesota § 427.09 (FAILURE TO DESIGNATE DEPOSITORY) 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. § 427.09 (2026).

Text

If the council of any home rule charter city of the fourth class or any statutory city shall refuse or fail to act, as provided in section427.01, within 30 days after the beginning of the fiscal year the treasurer shall select one or more depositories, not exceeding four in number, for the safekeeping of city funds and deposit such funds therein, in the name of the city, to the extent authorized by chapter 118A in each depository so selected without requiring security therefor.

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If the council of any home rule charter city of the fourth class or any statutory city shall refuse or fail to act, as provided in section427.01, within 30 days after the beginning of the fiscal year the treasurer shall select one or more depositories, not exceeding four in number, for the safekeeping of city funds and deposit such funds therein, in the name of the city, to the extent authorized by chapter 118A in each depository so selected without requiring security therefor.