the banks or trust companies named in said statement filed by the sheriff do not comply with the requirements and provisions of this act, then the county court shall designate any other bank, banks or trust companies convenient to the county and within the state, as county depository or depositories, when they comply with all the requirements and provisions of this act. Risk and expense of making deposits in county depositories located outside of the county seat, shall be borne by the bank, or banks, or trust companies in which the deposits are made. If the sheriff shall fail or neglect to file the statement provided for by the provisions hereof, by the time provided herein, naming eligible county depository or depositories, then the county court shall name some bank, banks, or trust companies within the state as county depository or depositories. The depositories named. by the county court shall be located in the county, if any therein eligible and willing to comply with the requirements and provisions of this act. When any bank or trust company has been named by the county court as provided for by this section, and has complied with all the requirements and provisions of this act, the court shall designate it a county depository. The county court of any county may be required by mandamus to comply with the requirements of this act, upon the petition of any citizen and taxpayer of the county, or any officer charged with the duty of enforcing compliance with the laws relating to the collection and disbursement of public moneys. (Code 1916, c. 39.)

§ 35. Same: bond of depository.-No such designation shall be binding on such county, nor shall any public money be deposited thereunder until the hypothecation of the bonds provided for in section 37 of this chapter, or until there is executed by the bank, or banks, or trust companies designated, bond with good and sufficient sureties, to be accepted and approved by the county court, payable to the state of West Virginia, in such sum as the county court shall direct, and which shall not be less than the maximum sum that shall be deposited in the depository at any one time; such bond shall be executed by at least four resident freeholders as sureties; or, by a fidelity or indemnity company authorized to do such business within the state, satisfactory to, and acceptable by the county court, and having not less than one hundred thousand dollars capital; and such bond shall be

conditioned for the receipt, safe-keeping and payment over of all money which may be deposited in or come under the custody of the bank or trust company designated a county depository under the provisions hereof, together with the interest thereon at the rate specified by this act; and such bond shall be further conditioned for the faithful performance by the bank or trust company so designated, of all the duties imposed by this act upon a depository of public moneys. An action shall lie on such bond at the instance of the county court, or the sheriff, for the recovery of any money deposited in the depository, upon failure or default of the depository to fully and faithfully account for and pay over any and all public moneys deposited by the sheriff, and of all interest earned and accrued thereon as required by this act. Such bond shall not be accepted by the county court until it shall have been submitted to the prosecuting attorney, and certified by him to be in due and legal form, and conformable to the provisions of this act, which certificate shall be endorsed thereon, and if any bank or trust company designated as aforesaid, fail to execute bond as required hereby, to the satisfaction and acceptance of the county court, or fail to hypothecate the bonds, as provided in section 37 of this chapter, within thirty days from the time the designation is made, the county court shall designate other depository or depositories in the manner hereinbefore provided. (Code 1916, c. 39.)

§ 36. Same: failure of depository to comply with act; removal of moneys; cessation of business. The bank, banks or trust companies designated in the manner hereinbefore provided, shall, upon the acceptance by the county court of the bond, or upon the hypothecation of the bonds as provided for herein, be the depository or depositories of public moneys, and remain such for two years, and until the bond of its successor or successors is accepted by the county court; but the county court, at any time it deems the same necessary, may require additional security from a depository in such sum as the court shall by order designate; and if a depository refuse or neglect, for the period prescribed by the court, to give such additional security, or to comply with the provisions of this act, the court may order the removal of the public moneys therefrom to some other depository, and if no county depository is available at the time, then to some reliable bank or banks or trust companies to be the depos

itory thereof temporarily. Such removal, and all other removals, ordered by the county court under the provisions of this act, shall be made by order of record upon the check of the county treasurer, countersigned by the county clerk, after ninety days' notice to said depository. In event any county depository shall cease to do business, or shall suspend business, the county treasurer and county court at once shall designate and approve, respectively, another bank as a depository in place of the suspended depository. But, in such event, and pending the designation and approval of another depository (when there is no other approved depository in the county) the treasurer shall deposit public funds coming into his hands, in some reliable bank or trust company, eligible to be a county depository, as a temporary depository, until a depository is designated and approved in the manner herein prescribed. If the money, in case of such removal, be deposited in a bank designated as a depository, temporarily, such bank or trust company shall, before the receipt by it of any such money, enter into a bond or hypothecate the bonds. as required by this act; but if no bank or trust company be so designated, the money shall be kept in the county treasury, and steps at once taken by the county court to create a new depository under this act. (Code 1916, c. 39.)

§ 37. Same: hypothecation of bonds as security. The county court may in lieu of the bond provided for by preceding sections, accept as security for money deposited as aforesaid, interestbearing securities of the United States, or a state, county, district or municipal corporation, the indebtedness whereof does not exceed five per cent of the assessed valuation; the face value of which shall not be less than the sum specified in section 35 of this chapter as the amount to be named in the bond in lieu of which such bonds are accepted; or they may accept such bonds as partial security to the extent of their face value for the money so deposited, and require bond for the remainder of the full amount specified in said section, to be named in the bond; and in the bond so required, such acceptance of bonds as partial security, and the extent thereof shall be set forth. The hypothecation of such bonds shall be by proper legal transfer as collateral to protect and indemnify by trust any and all loss in case of any default on the part of the bank in its capacity as depository as aforesaid, and such collateral shall be released only by order of record of

the county court when satisfied full and faithful accounting and payment of all the moneys has been made under the provisions hereof. The county court shall make ample provision for the safekeeping of such hypothecated bonds, and the interest thereon when paid shall be turned over to the bank or trust company, so long as it is not in default as aforesaid. (Code 1916, c. 39.)

§ 38. Same: deposit and disbursement of moneys. The treas urer upon receipt of a certified copy of the order of the county court, showing that a depository or depositories have been designated and bond accepted in compliance with the provisions of this act, and naming the depository or depositories shall deposit therein to the credit of the county treasurer, all public money in his possession, except such as may be necessary to meet current demands; and, thereafter, he shall make daily deposits in the public depositories of all public money received by him, except as hereinafter provided, the deposit of such money to be made as early as practicable after the receipt or collection thereof, and such money shall be payable by the depository only on an order issued by the county court, or board of education after said order has been endorsed by the treasurer directing payment by the depository. If at any time the cash in hands of the treasurer is not sufficient to meet the current demands, he is authorized to withdraw sufficient cash from the depository to meet said current demands, such withdrawal to be made by check drawn by the treasurer, and countersigned by the county clerk. The said current demands shall not be anticipated more than a week in advance. All moneys due the treasurer are to be drawn from the depository on an order issued by the county court and endorsed by the treasurer. At the end of each month the president and clerk of the county court shall sign proper orders on the treasurer, in his favor, to pay him the moneys due him. All moneys belonging to the state, or any municipality, shall be disbursed from the depository on a check drawn by the county treasurer, payable to the auditor of the state of West Virginia, or to the treasurer of the municipality. (Code 1916, c. 39.)

§ 39. Same: interest on deposits. All money deposited in any depository shall bear interest at the rate of three per cent. per annum, to be computed on daily balances, and such interest shall be placed to the credit of the county treasurer on the first day of each calendar month, or at any time when the account may

be closed. When the interest is credited to the treasurer the depository shall, in writing, notify the clerk of the county court and treasurer, each separately, the amount thereof, before noon of the next business day, and all of such interest shall be credited to the general county fund by the clerk of the county court and treasurer. (Code 1916, c. 39.)

§ 40. Same: monthly statement of amount of deposits. On the first business day of each month a county depository under the provisions of this act shall furnish to the clerk of the county court a written statement, showing the amount on deposit to the credit of the county treasurer at the close of each day of the preceding month, which statement shall be filed and kept in the office of the clerk of the county court, as part of the public records. (Code 1916, c. 39.)

§ 41. Same: account of deposits and disbursements.-The treasurer shall keep an account with each depository showing each deposit and disbursement; the depository upon payment of any order or draft drawn by authority of the county court or board of education on the treasurer, and endorsed by him for payment, or upon payment of any check drawn by the treasurer for the purposes herein authorized, shall cancel the same, showing clearly the payment thereof and the date of payment. The orders or drafts and checks so paid shall be delivered by the depository to the treasurer upon his demand, and the orders or drafts shall be by him preserved for settlement with the county court, and the checks shall be filed and preserved as part of the records of his office. (Code 1916, c. 39.)

§ 42. Same: meaning of "public moneys" and "county court.' -The term "public moneys," as used in this act, shall include all money which by law the sheriff in his capacity as such, and as treasurer of the county and districts, is authorized to collect, receive and disburse for public purposes, including state, county, districts, school districts, independent school districts and municipalities. The term "county court," shall include all tribunals in lieu thereof. (Code 1916, c. 39.)

§ 43. Same: liability of officers for violations of act.-If any sheriff shall wilfully fail, refuse or neglect to comply with the requirements and provisions hereof, he shall be guilty of a mis