Washington Code 39.58.140 – Liability of treasurers and state treasurer
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When deposits are made in accordance with this chapter, a treasurer and the state treasurer shall not be liable for any loss thereof resulting from the failure or default of any public depositary without fault or neglect on his or her part or on the part of his or her assistants or clerks.
NOTES:
Effective date—2009 c 9: See note following RCW 39.58.010.
Liability of state treasurer: RCW 43.85.070.
Terms Used In Washington Code 39.58.140
- Loss: means the issuance of an order by a regulatory or supervisory authority or a court of competent jurisdiction (a) restraining a public depositary from making payments of deposit liabilities or (b) appointing a receiver for a public depositary;
Washington Code 39.58.010Public depositary: means a financial institution that has been approved by the commission to hold public deposits, and has segregated, for the benefit of the commission, eligible collateral having a value of not less than its maximum liability;
Washington Code 39.58.010State treasurer: means the treasurer of the state of Washington;
Washington Code 39.58.010Treasurer: means a county treasurer, a city treasurer, a treasurer of any other municipal corporation, and any other custodian of public funds, except the state treasurer;
Washington Code 39.58.010