§ 77-2371 — Local hospital district; deposits; requirements

Nebraska § 77-2371

• Jurisdiction: Nebraska
• Ch. 77: Revenue and Taxation

Text

When more than one bank, capital stock financial institution, or qualifying mutual financial institution may have been selected by the board of directors as depositories, the secretary-treasurer shall not give a preference to any one or more of them in the money he or she may so deposit, but shall keep deposited with each of such banks, capital stock financial institutions, or qualifying mutual financial institutions such a part of the money as the capital of such bank, capital stock financial institution, or qualifying mutual financial institution as of December 31 of the preceding year is a part of the amount of all the capital of all the banks, capital stock financial institutions, or qualifying mutual financial institutions so selected as of December 31 of the preceding year, so that such money may at all times be deposited with such banks, capital stock financial institutions, or qualifying mutual financial institutions pro rata as to their capital, except that the secretary-treasurer may select one or more banks, capital stock financial institutions, or qualifying mutual financial institutions to be used for active accounts in which he or she may keep deposited in excess of these requirements only such funds as may be necessary for the transaction of ordinary day-to-day requirements. For purposes of this section, capital shall mean capital stock, surplus, undivided profits, capital notes or debentures, and other unimpaired reserves. 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 1994, LB 1118, § 3; Laws 1996, LB 1274, § 51; Laws 2001, LB 362, § 73.