N.Y. General City Law § 3-a: Liability of city officials

§ 3-a. Liability of city officials. No official of any city of this

state who shall deposit any moneys coming into his hands by virtue of

his office in any bank, savings bank, national banking association,

trust company, or with any private banker, in accordance with the

provisions of any general or local law or charter, or in accordance with

the official action taken by the governing body or board of any such

city, shall be liable for the loss of any such moneys resulting from the

default or insolvency of any such depositary.