Section 6-10-22 - Security for deposits; liability for loss

The state treasurer or any board of finance or the secretary or treasurer of any board of finance charged with the custody of any bonds or securities mentioned in Section 6-10-21 NMSA 1978 who complies with the requirements of the state board of finance with respect to the safekeeping of any bonds or securities shall not be liable for the loss of those bonds or securities except in cases where the loss is due to his willful act or might have been avoided by reasonable care on his part. History: Laws 1927, ch. 87, § 2; C.S. 1929, § 13-1021; 1941 Comp., § 7-221; 1953 Comp., § 11-2-23; 1991, ch. 31, § 6. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, substituted 'Section 6-10-21 NMSA 1978' for 'Section 1 hereof' near the middle of the section and made minor stylistic changes. Am. Jur. 2d, A.L.R. and C.J.S. references. — Constitutionality of statutes relieving officer or public depository or sureties from liability for loss of public funds, 96 A.L.R. 295.