The board shall require from the depository adequate bond or securities to secure the safety of the deposit which bond or securities shall be in the sum that the board shall fix having due regard to the safety of the board’s funds.
Ala. Code § 45-52A-35.16
Municipal Utilities Board - Bond of Depository.
(Acts 1939, No. 89, p. 47, § 18.)
Official source: Alabama Legislature (ALISON). Reproduced from public-domain Alabama statutes; confirm against the official source for the current text. Not legal advice.