State v. Johnson

Under the provisions of sec. 7, art. X, of the constitution, the secretary of state, the treasurer, and the attorney general shall constitute the board of commissioners of public lands. Sec. 14.43 of the Statutes provides:.“Any national or-state banking corporation which is approved by the ‘board of deposits,’ consisting of the commissioners of public lands and the governor, may, upon filing a bond as hereinafter provi.ded, and upon the compliance with all other requirements of law, become a state depository. . . .”

Sec. 14.46 provides:

“Treasurer’s liability. Under the direction of the board…