State depositing authorities which have complied with the provisions of R.S. 49:320 through 49:324 shall not be responsible for any funds deposited in depositories selected by the Interim Emergency Board; but all depositing authorities shall be responsible for the safekeeping and returning of the collateral deposited with them by fiscal agent banks as security for the deposits by them made with the state depositories.
La. R.S. 49:323
State depositing authorities not responsible for funds deposited
Acts 1976, No. 428, §1, eff
Official source: Louisiana State Legislature. Reproduced from public-domain Louisiana statutes; confirm against the official source for the current text. Not legal advice.