Nebraska § 70-1323 Escrow account; deficiency; effect; interest

Nebraska Statutes

§ 70-1323 — Escrow account; deficiency; effect; interest

Nebraska·Ch. 70 Power Districts and Corporations

In the event that the escrow and interest thereon are insufficient to satisfy the provisions of the arbitration board's decision, the party liable for such deficiency shall take all actions necessary to obtain such funds and make payment thereof, including interest, within thirty days from the date of the decision. Interest shall be at the rate set forth in the contract between the parties or in the absence of a contract or if no rate of interest is set forth in the contract, at the average rate of interest earned by the escrow account established pursuant to section  70-1305 .

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In the event that the escrow and interest thereon are insufficient to satisfy the provisions of the arbitration board's decision, the party liable for such deficiency shall take all actions necessary to obtain such funds and make payment thereof, including interest, within thirty days from the date of the decision. Interest shall be at the rate set forth in the contract between the parties or in the absence of a contract or if no rate of interest is set forth in the contract, at the average rate of interest earned by the escrow account established pursuant to section 70-1305 .

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