34.06 Liability of treasurers. Notwithstanding any other provision of law, a treasurer who deposits public moneys in compliance with s. 34.05 is thereby relieved of liability for any loss of public moneys which results from the failure of any depository to repay the public depositor the full amount of its deposits thus causing a loss as defined in s. 34.01 (2).
History: 1983 a. 189 s. 329 (21); 1985 a. 25; 2011 a. 204.
Legislative Council Note, 1985: This section is amended to retain the immunity to liability for treasurers of public depositors who comply with s. 34.05. This section is amended to remove references to bonds or security since this bill amends s. 34.07 to permit a public depositor to require a bond or other security for public deposits. Further, this section is amended to shorten the listing of treasurers by making use of the defined term in s. 34.01 (7). In making use of the term “treasurer", this subsection specifically includes the treasurer (or clerk, in the case of a court) of:
A cooperative educational service agency.
Any court of Wisconsin.
A corporation organized under s. 39.33, by the Wisconsin higher educational aids board, to provide for a guaranteed student loan program.
The housing and economic development authority.
The bodies listed above are included in the definition of “public depositor" in s. 34.01 (4), but are not listed in current s. 34.06. [85 Act 25]
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