Louisiana Revised Statutes 33:2931 – Responsibility of depositing authority
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Any depositing authority who has complied with La. Rev. Stat. 33:2928 through La. Rev. Stat. 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.