Davis v. West Louisiana Bank

The West Louisiana Bank was selected as depository for the funds of the parish of Vernon by the police jury of that parish. Section 5 of Act 205 of 1912 requires that the depository selected by the state, or by any of its political subdivisions or boards, shall furnish, as security for deposits made, bonds of the United States, or of its colonial possessions, or unmatured bonds of the state of Louisiana, or of any legally organized subdivision or board thereof, or shall furnish, in lieu of such bonds, an indemnity bond of a duly authorized surety company, conditioned upon the safe-keeping and…