77-2392 Substitution of securities authorized. - Nebraska Statutes

77-2392. Substitution of securities authorized.A bank, capital stock financial institution, or qualifying mutual financial institution which has furnished securities pursuant to the Public Funds Deposit Security Act shall have the right at any time and without prior approval to substitute other securities of equal value in lieu of securities furnished except that such securities substituted shall be those provided for under the act. Following any substitution of securities pursuant to this section the custodial official shall report such substitution to the governing authority. SourceLaws 1996, LB 1274, § 7; Laws 2001, LB 362, § 87.