Nebraska § 30-3204 Securities received by fiduciary; investments authorized

Nebraska Statutes

§ 30-3204 — Securities received by fiduciary; investments authorized

Nebraska·Ch. 30 Decedents' Estates; Protection of Persons and Property

Trust funds received by administrators, executors, trustees or guardians may be kept invested in the securities received by them unless it shall be otherwise ordered by the court of appointment or unless the instrument under which such trust was created shall direct that a change of investments shall be made, and they shall not be liable for any loss that may occur through the depreciation of such securities. The provisions of this section and section  30-3201  shall in no manner affect the right of fiduciaries to continue the investments existing before August 9, 1933, that do not conform to the standards contained in said sections, but any investments so held that do conform, or subsequently acquired under the provisions of said sections may be continued notwithstanding changes in condit

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Trust funds received by administrators, executors, trustees or guardians may be kept invested in the securities received by them unless it shall be otherwise ordered by the court of appointment or unless the instrument under which such trust was created shall direct that a change of investments shall be made, and they shall not be liable for any loss that may occur through the depreciation of such securities. The provisions of this section and section 30-3201 shall in no manner affect the right of fiduciaries to continue the investments existing before August 9, 1933, that do not conform to the standards contained in said sections, but any investments so held that do conform, or subsequently acquired under the provisions of said sections may be continued notwithstanding changes in conditions of the security or the obligor that would render such securities ineligible for further investments.

Nebraska § 30-3204 (Securities received by fiduciary; investments authorized) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1933, c. 64, § 2, p. 300; C.S.Supp.,1941, § 27-602; R.S.1943, § 24-602; R.S.1943, (1985), § 24-602. Annotations: This section is not applicable where the will directs that securities of deceased be converted into cash. Bates v. Scottsbluff Nat. Bank, 190 Neb. 456, 209 N.W.2d 165 (1973).