Title 9, Chapter 8, Section 11
( 9-8-11)
Where funds are in the hands of a receiver pending a final
disposition, the receiver may deposit the funds into a bank or trust
company which is insured by the Federal Deposit Insurance
Corporation, Federal Savings and Loan Insurance Corporation, or
successor entities. If the receiver fails to utilize such an insured
bank or trust company, he shall be personally liable for any
resulting loss. |