Title 45, Chapter 8, Section 15
( 45-8-15)
Upon any deposit of public funds being made in any bank, whether
designated as a depository or not, there shall arise in favor of the
public body to which such fund belongs a lien on all the assets of
said bank, superior to all other liens, for the amount of such
funds. Upon being deposited in any bank, all funds of any public
body shall be deemed to be held as a trust fund. |