National Surety Co. v. Campbell

Citations

• 108 Wash. 596
• 185 P. 602

Syllabus

<p>Depositaries — Designation — Annual Appointments—Statutes. The designation of a bank as county depositary was intended to continue indefinitely and is not limited to one year, by Rem. Code, § 5072, providing that each county treasurer “shall” annually and at such other times as he deems necessary designate a bank as a depositary for all public funds; since the word “shall” relates to the first designation, while the word “annually” must be read in connection with the words immediately following.</p> <p>Statutes (73)—Construction as Mandatory. Rem. Code, §5072, providing that county treasurers “shall” annually designate a depositary, is not mandatory as to requiring annual appointments; the time for the performance of an act generally being directory, and depending on the spirit as well as the letter of the law.</p> <p>Indemnity (4, 5)—Scope and Extent of Liability—Limit as to Time. An indemnity bond to protect a surety on a county depositary bond given by a bank is not limited to one year, where the depositary’s term and bond were not limited to any definite term, and the indemnity bond agreed to save and hold the surety harmless from any and all liability in consequence of having executed the depositary bond.</p>