Nebraska § 8-3213 Term and termination

Nebraska Statutes

§ 8-3213 — Term and termination

Nebraska·Ch. 8 Banks and Banking

(a)Unless otherwise provided in the account agreement, a special deposit terminates five years after the date the special deposit was first funded.

(b)Unless otherwise provided in the account agreement, if the financial institution cannot identify or locate a beneficiary entitled to payment when the special deposit is terminated, and a balance remains in the special deposit, the financial institution shall pay the balance to the depositor or depositors as a beneficiary or beneficiaries.

(c)A financial institution that pays the remaining balance as provided under subsection (b) has no further obligation with respect to the special deposit.

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(a) Unless otherwise provided in the account agreement, a special deposit terminates five years after the date the special deposit was first funded.
(b) Unless otherwise provided in the account agreement, if the financial institution cannot identify or locate a beneficiary entitled to payment when the special deposit is terminated, and a balance remains in the special deposit, the financial institution shall pay the balance to the depositor or depositors as a beneficiary or beneficiaries.
(c) A financial institution that pays the remaining balance as provided under subsection (b) has no further obligation with respect to the special deposit.

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