60-514 Security; State Treasurer; custody; disposition; return. - Nebraska Statutes

60-514. Security; State Treasurer; custody; disposition; return.The security deposited, in compliance with the requirements of sections 60-501 to 60-569, shall be placed by the department in the custody of the State Treasurer and shall be applicable only to the payment of a judgment or judgments rendered against the person or persons on whose behalf the deposit was made, for damages arising out of the accident in question in an action at law, begun not later than two years after the date of such accident, or within two years after the date of deposit of any security under subdivision (4) of section 60-511, and such deposit or any balance thereof shall be returned to the depositor or his personal representative when evidence satisfactory to the department has been filed with it that there has been a release from liability, or a final adjudication of nonliability, or a supersedeas bond to insure payment of judgment has been filed and approved as provided by subdivision (2) of section 60-511, or a warrant for confession of judgment, or a duly acknowledged agreement, in accordance with subdivision (4) of section 60-510, or whenever, after the expiration of two years from the date of the accident, or within two years after the date of deposit of any security under subdivision (4) of section 60-511, the department shall be given reasonable evidence that there is no such action pending and no judgment rendered in such action left unpaid. SourceLaws 1949, c. 178, § 14, p. 490; Laws 1959, c. 298, § 12, p. 1116.