California Government Code 16606 – A state officer is not liable on his or her official bond for losses …
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A state officer is not liable on his or her official bond for losses caused by the failure of a savings and loan association or credit union in which a deposit is made of money belonging to an inmate of a state institution, if the officer was required or permitted by law to act as a trustee or fiduciary with respect to the money and if he or she made the deposit in good faith and in accordance with law.
(Amended by Stats. 1987, Ch. 1035, Sec. 7.)
Terms Used In California Government Code 16606
- Fiduciary: A trustee, executor, or administrator.
- State: means the State of California, unless applied to the different parts of the United States. See California Government Code 18
- Trustee: A person or institution holding and administering property in trust.