Tennessee Statutes
§ 5-8-205 — Liability of trustee
Tennessee·Title 5
From the date of the deposit, which shall be evidenced by the bank book, the county trustee shall be released from liability for losses to the county in consequence of the contract and deposit; but should the county trustee fail or refuse specifically to obey the order specified in § 5-8-203 , the county trustee shall be held liable not only for the money collected and not so deposited, but for the interest on the funds mentioned in the contract, and as a penalty shall be liable for further interest equal in amount of the interest contracted for, all of which may be recovered by suit; and when collected the interest paid as penalty shall become the property of the contracting bank or banks, and the balance of the fund recovered, together with the cost, shall be paid to the county.
Free access — add to your briefcase to read the full text and ask questions with AI
Tennessee § 5-8-205 (Liability of trustee) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
Acts 1909, ch. 305, § 5; Shan., § 647a5; Code 1932, § 1043; T.C.A. (orig. ed.), § 5-814.
Nearby Sections
15
§ 5-1-101
Enumeration of counties§ 5-1-102
Jurisdiction over boundary waters§ 5-1-103
Corporate capacity§ 5-1-104
County officers - Filling vacancies§ 5-1-105
Suits against counties§ 5-1-106
Suits for use of counties§ 5-1-107
Mandamus to enforce county duties§ 5-1-108
Division into districts§ 5-1-109
Continuation of existing districts§ 5-1-110
District maps and boundaries