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 that the trustee or trustees of the permanent care and improvement fund deposit with the county treasurer as provided in subsection (2).

(2) The trustee or trustees of the fund may deposit for safekeeping the money, bonds, and securities as they see fit with the county treasurer of the county in which the cemetery or some part of the cemetery is situated. The county treasurer shall receive and safely keep all money, bonds, and securities and pay them out or deliver them upon the order of the trustee or a majority of the trustees, when countersigned by a judge of the judicial district and not otherwise, and shall keep an account with the trustee or trustees of all those transactions. For the safekeeping and payment and delivery of all money, bonds, and securities as provided in this section, the treasurer and the treasurer's sureties are liable upon the treasurer's official bond.