AN ACT

 

1Amending the act of June 23, 1931 (P.L.932, No.317), entitled
2"An act relating to cities of the third class; and amending,
3revising, and consolidating the law relating thereto," in the
4city treasurer, further providing for depositories of city
5funds entrusted to the treasurer by city council.

6The General Assembly of the Commonwealth of Pennsylvania
7hereby enacts as follows:

8Section 1. Section 1406 of the act of June 23, 1931
9(P.L.932, No.317), known as The Third Class City Code, reenacted
10and amended June 28, 1951 (P.L.662, No.164) and amended March
1119, 2014 (P.L.52, No.22), is amended to read:

12Section 1406. Depositories of City Funds Entrusted to the 
13Treasurer by City Council.--The treasurer shall keep the public 
14funds in banks or financial depositories as council may direct, 
15under restrictions and safeguards as council may provide, and 
16shall verify the treasurer's accounts whenever required, to the 
17satisfaction of council. Taxes, fees, assessments or other 
18charges may not be payable to an account that is in or includes 
19an individual's name, but may be payable to an account that
 

1includes the name of an office, title or position.

2No treasurer complying with the provisions of this section
3and any ordinance of the city, nor the treasurer's surety or
4sureties, shall be chargeable with losses of city funds caused
5by the insolvency or negligence of any city depositories.

6Section 2. This act shall take effect in 60 days.