77-2389. Security; how furnished.
105 words·~1 min read·
/ne/chapter-77/77-2389A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A bank, capital stock financial institution, or qualifying mutual financial institution furnishes securities pursuant to the Public Funds Deposit Security Act if it
(1)deposits securities held by the bank, capital stock financial institution, or qualifying mutual financial institution,
(2)pledges or grants a security interest in securities held by the bank, capital stock financial institution, or qualifying mutual financial institution as provided in the act, or
(3)effects the assignment to the custodial official of a certificate of deposit fully insured or guaranteed by the Federal Deposit Insurance Corporation that is issued to the bank, capital stock financial institution, or qualifying mutual financial institution.