15-847 Deposit of city funds; security in lieu of bond. - Nebraska Statutes

15-847. Deposit of city funds; security inlieu of bond.In lieu of the bond required by section 15-846,any bank, capital stock financial institution, or qualifying mutual financialinstitution making application to become a depository may give security asprovided in the Public Funds Deposit Security Act to the city treasurer. Thepenal sum of such bond or the sum of such security may be reduced in the amountof such deposit insured orguaranteed by the Federal Deposit Insurance Corporation. 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. SourceLaws 1963, c. 54, § 3, p. 233; Laws 1987, LB 440, § 4; Laws 1989, LB 33, § 15; Laws 1989, LB 377, § 9; Laws 1992, LB 757, § 15; Laws 1995, LB 384, § 14; Laws 1996, LB 1274, § 15; Laws 2001, LB 362, § 16; Laws 2009, LB259, § 5. Cross ReferencesPublic Funds Deposit Security Act, see section 77-2386.