§ 3-a. Liability of city officials. No official of any city of this
state who shall deposit any moneys coming into his hands by virtue of
his office in any bank, savings bank, national banking association,
trust company, or with any private banker, in accordance with the
provisions of any general or local law or charter, or in accordance with
the official action taken by the governing body or board of any such
city, shall be liable for the loss of any such moneys resulting from the
default or insolvency of any such depositary.