SECTION 1. Chapter 44 of the General Laws is hereby amended by striking out Section 55A and inserting in place thereof the following section:
Section 55A. A city, town, district of regional school district officer receiving public money and lawfully and in good faith and in the exercise of due care depositing the public money pursuant to the provisions of Section 55 of Chapter 44 shall not be personally liable to the city, town, district or regional school district for any loss of public money by reason of the closing or liquidation of any depository institute described in said section.
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