Nebraska § 8-212 Pledged securities; primarily liable
for trust or fiduciary obligations
and losses

Nebraska Statutes

§ 8-212 — Pledged securities; primarily liable for trust or fiduciary obligations and losses

Nebraska·Ch. 8 Banks and Banking

Securities pledged as provided in section  8-209 
shall be primarily liable for the obligations of the trust company, state
or national bank, federal savings association, federally chartered trust company, out-of-state trust company
authorized under the Interstate Trust Company Office Act or otherwise doing business in this state, or an out-of-state
entity acting in a fiduciary capacity in this state, incurred
while acting in any fiduciary capacity, for depository of money in court,
and for losses arising from trust funds deposited with failed financial institutions
in excess of deposit insurance limits and shall not be liable for any other
debt or obligation of the financial
institution or out-of-state entity until all such trust liabilities
have been discharged.

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Securities pledged as provided in section 8-209
shall be primarily liable for the obligations of the trust company, state
or national bank, federal savings association, federally chartered trust company, out-of-state trust company
authorized under the Interstate Trust Company Office Act or otherwise doing business in this state, or an out-of-state
entity acting in a fiduciary capacity in this state, incurred
while acting in any fiduciary capacity, for depository of money in court,
and for losses arising from trust funds deposited with failed financial institutions
in excess of deposit insurance limits and shall not be liable for any other
debt or obligation of the financial
institution or out-of-state entity until all such trust liabilities
have been discharged.

Nebraska § 8-212 (Pledged securities; primarily liable for trust or fiduciary obligations and losses) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1919, c. 190, tit. V, art. XVIII, § 12, p. 722; C.S.1922, § 8074; C.S.1929, § 8-212; Laws 1933, c. 20, § 1, p. 190; Laws 1933, c. 18, § 78, p. 176; Laws 1939, c. 3, § 2, p. 60; C.S.Supp.,1941, § 8-212; R.S.1943, § 8-212; Laws 1993, LB 81, § 26; Laws 1998, LB 1321, § 41; Laws 2012, LB963, § 6. Cross References: Interstate Trust Company Office Act, see section 8-2301.