RS 33:2931: Responsibility of depositing authority

Any depositing authority who has complied with R.S. 33:2928 through R.S. 33:2930 shall not be responsible for any funds deposited in depositories selected by the city governing body. All depositing authorities shall be responsible for the safe-keeping and returning of the collateral deposited with them by fiscal agent banks as security for the deposits made by them with such depositories.