Effect of bank failure

If the money of a principal shall be deposited by a private agent in the name of the principal in the hands of a bank of good credit and the 904 10-6-28 deposit is according to the common usage of the place, the agent shall not be responsible for any loss arising from the failure of the bank. History. Civil Code 1895, § 3008; Civil Code 1910, § 3580; Code 1933, § 4-209. History of Code section. This Code section is derived from the decision in Rogers v. Hopkins & Glenn, 70 Ga. 454 (1883).