72-1265. State investment officer; deposits; fix interest rate and term; legislative intent.
101 words·~1 min read·
/ne/chapter-72/72-1265A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The state investment officer shall fix the rate of interest to be paid on deposits and the term of deposits to be offered on the first day of each month. The rate per annum for each period shall be equal to the interest rate paid for other qualified investments of equal term available for investment by the state investment officer. It is the Legislature's intent that the state receive a competitive rate from Nebraska banks, capital stock financial institutions, and qualifying mutual financial institutions, but that rates received should not exceed the rates that would be paid for other qualified investments.