77-2340 County funds; investment of funds; time deposits; security required; exception. - Nebraska Statutes

77-2340. County funds; investment of funds; time deposits; security required; exception.The county treasurers of the various counties of the state may, upon resolution of their respective county boards authorizing the same, make time deposits in banks, capital stock financial institutions, or qualifying mutual financial institutions selected as depositories of county funds under the provisions of sections 77-2312 to 77-2315. The time deposits shall bear interest and shall be secured as set forth in section 77-2304 or 77-2320, except that the amount insured or guaranteed by the Federal Deposit Insurance Corporation shall be exempt from the requirement of being secured as provided by section 77-2320 or by bonds similar to the bond required and set forth in section 77-2304. 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 1931, c. 18, § 2, p. 90; C.S.Supp.,1941, § 77-2524; R.S.1943, § 77-2340; Laws 1961, c. 392, § 3, p. 1191; Laws 1972, LB 1069, § 7; Laws 1975, LB 164, § 1; Laws 1989, LB 33, § 53; Laws 1992, LB 757, § 27; Laws 2001, LB 362, § 52; Laws 2009, LB259, § 17.Effective Date: March 6, 2009