7-35-2141. Reduction of bond by deposit of money and securities. (1) For the purpose of fixing the amount of the bond, the value of the property on hand may be reduced in an amount equal to the value of the money, bonds, and securities which the trustee or trustees of the permanent care and improvement fund may elect to and do deposit with the county treasurer as hereinafter provided.
     (2) The trustee or trustees of such fund may deposit for safekeeping such money, bonds, and securities as he or they see fit with the county treasurer of the county in which said cemetery or some part thereof is situated. It is the duty of the county treasurer to receive and safely keep all such money, bonds, and securities or any part thereof and pay them out or deliver them up upon the order of such trustee or a majority of the trustees, when countersigned by a judge of said judicial district and not otherwise, and to keep an account with such trustee or trustees of all such transactions. For the safekeeping and payment and delivery of all such money, bonds, and securities as herein provided, the treasurer and his sureties are liable upon his official bond.

     History: En. Sec. 4, Ch. 165, L. 1955; R.C.M. 1947, 9-219(part).