Opinion No. 71-155 (1971) Ag

LIMITATION ON DEPOSITING OF SCHOOL DISTRICT FUNDS IN CERTAIN BANKS WHERE SCHOOL BOARD MEMBER HAS AN INTEREST A board of education may not use a bank as its depository for school district funds when a member of the board of education is an assistant cashier, director and small shareholder of the bank sought to be used as a depository. The Attorney General has considered your opinion request dated January 28, 1971 wherein you ask the following question: "May a board of education use a bank as its depository for school district funds when a member of the board of education is an assistant…