77-2303. State funds; depositories; bond required; approval; conditions.
211 words·~1 min read·
/ne/chapter-77/77-2303A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For the security of funds deposited under the provisions of sections 77-2301 to 77-2309 , the State Treasurer shall require all such depositories to give bond for the safekeeping of payments of such deposits. The officers of the bank seeking to qualify as a depository shall be ineligible to sign the bond provided for under this section. The bond shall run to the people of the State of Nebraska, and shall be approved by the Governor, Secretary of State and Attorney General. No bond shall be valid unless approved by all three of the above-named officers.
The bond shall be conditioned that the depository shall at the end of each and every month render to the State Treasurer a statement in duplicate showing the daily balance and the amount of money of the state held by it during the month, and for the payment of the deposit when demanded by the treasurer on his check at any time, and generally to do and perform whatever may be required by the provisions of this article and a faithful discharge of the trust reposed in such depository.
Bond is a continuing liability. Certification of check of outgoing treasurer is not a redeposit. Hall County v. Thomssen, 63 Neb. 787, 89 N.W. 393 (1902).