§ 356.190 — Liability of county treasurer if depository fails or becomes insolvent; deposit of collateral or security for safekeeping

Nevada § 356.190

• Jurisdiction: Nevada
• Title 31: PUBLIC FINANCIAL ADMINISTRATION
• Ch. 356: Depositories

Text

1. Where the county treasurer, in accordance with the terms and provisions of NRS 356.120 to 356.180 , inclusive, has deposited and kept on deposit any public money in depositories so designated, he or she:
(a) Is not liable personally on or upon his or her official bond for any public money that may be lost by reason of the failure or insolvency of any such depository.
(b) Is chargeable with the safekeeping, management and disbursement of any bonds that may be deposited with the county treasurer as security for deposits of county money, and with interest thereon, and with the proceeds of any sale of such bonds.
2. The county treasurer may deposit for safekeeping with an insured bank, insured credit union, insured savings and loan association, insured savings bank or trust company within or without this state any securities or bonds pledged with him or her, as county treasurer, as collateral or as security for any purpose, but the securities or bonds may only be so deposited by the county treasurer with the joint consent and approval, in writing, of the pledgor thereof and the board of county commissioners. Any bonds or securities so deposited must be deposited under a written deposit agreement between the pledgor and the county treasurer, to be held and released only upon a written order of the county treasurer that has been approved by the board of county commissioners.

Legislative History

[3:80:1885; added 1941, 42 ; 1931 NCL § 2188.01]—(NRS A 1999, 194 ; 2015, 345 )