STATE v. HERBERT

No. 76-311.

49 Ohio St. 2d 88 (1976)

THE STATE OF OHIO, APPELLANT, v. HERBERT ET AL. APPELLEES.

Supreme Court of Ohio.

Decided December 30, 1976.


Attorney(s) appearing for the Case

Mr. William J. Brown, attorney general, Mr. Stephen C. Fitch and Mr. Eugene F. McShane, for appellant.

Messrs. Addison & Smith and Mr. Richard C. Addison, for appellee Buckeye Union Ins. Co.

Mr. Robert F. Gardner, pro se.

Messrs. McNamara & McNamara, Mr. William II. Woods, Mr. Paul Tague and Mr. J. Paul McNamara, for appellees John D. Herbert, Aetna Cas. & Sur. Co., American States Ins. Co., Celina Ins. Co., Cincinnati Ins. Co., and Travelers Ins. Co.


WILLIAM B. BROWN, J.

The main issue raised by this cause is whether R. C. 135.14, which allows the treasurer to invest interim moneys in the commercial paper of certain private corporations, alters the common-law standard of liability for loss of public funds by public officials where the investment is in violation of the maximum investment limitation embodied in the statute.

Appellees argue that they are not...

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