Minnesota § 427.09 - FAILURE TO DESIGNATE DEPOSITORY
Full text of Minnesota Minnesota Statutes § 427.09 — FAILURE TO DESIGNATE DEPOSITORY, with citation guidance and answers to common questions.
§ 427.09. FAILURE TO DESIGNATE DEPOSITORY
If the council of any home rule charter city of the fourth class or any statutory city shall refuse or fail to act, as provided in section 427.01, within 30 days after the beginning of the fiscal year the treasurer shall select one or more depositories, not exceeding four in number, for the safekeeping of city funds and deposit such funds therein, in the name of the city, to the extent authorized by chapter 118A in each depository so selected without requiring security therefor.
History:
(1049-2) 1931 c 216 s 2; 1933 c 62 s 2; 1957 c 367 s 6; 1959 c 289 s 3; 1973 c 123 art 5 s 7; 1976 c 44 s 35; 1Sp1981 c 4 art 1 s 175; 2001 c 7 s 90
Official Publication of the State of Minnesota
Revisor of Statutes
Frequently Asked Questions About Minnesota § 427.09
What does Minnesota Statutes § 427.09 cover?
Section 427.09 ("FAILURE TO DESIGNATE DEPOSITORY") is part of the Minnesota Statutes, the codified statutory law of Minnesota. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Minnesota § 427.09?
A common citation format is "Minnesota Statutes § 427.09" (Minnesota). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Minnesota law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Minnesota official source linked on this page or consult a licensed Minnesota attorney.
How does Minnesota § 427.09 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Minnesota can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Minnesota.