2-1-1: DEPOSIT OF TOWN FUNDS:
   A.   Depositories Designated: All banks and all savings and loan associations in the county which are incorporated under federal or state law are hereby designated as depositories for the funds of the town.
   B.   Treasurer's Duty: The town treasurer shall deposit daily all public funds received by him in such banks or savings and loan associations. (1995 Code title 7 § 1.1)