§ 15-847 — Deposit of city funds; security in lieu of bond

Nebraska § 15-847

• Jurisdiction: Nebraska
• Ch. 15: Cities of the Primary Class

Text

In lieu of the bond required by section 15-846 ,
any bank, capital stock financial institution, or qualifying mutual financial
institution making application to become a depository may give security as
provided in the Public Funds Deposit Security Act to the city treasurer. The
penal sum of such bond or the sum of such security may be reduced in the amount
of such deposit insured or
guaranteed by the Federal Deposit Insurance Corporation. Section 77-2366 shall apply to deposits in capital stock financial institutions. Section 77-2365.01 shall apply to deposits in qualifying mutual financial institutions.

Legislative History

Source: Laws 1963, c. 54, § 3, p. 233; Laws 1987, LB 440, § 4; Laws 1989, LB 33, § 15; Laws 1989, LB 377, § 9; Laws 1992, LB 757, § 15; Laws 1995, LB 384, § 14; Laws 1996, LB 1274, § 15; Laws 2001, LB 362, § 16; Laws 2009, LB259, § 5. Cross References: Public Funds Deposit Security Act, see section 77-2386.