8-2902. Legislative intent.
130 words·~1 min read·
/ne/chapter-8/8-2902A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)It is the intent of the Legislature to provide legal protection to financial institutions so that they have the discretion to take action to assist in detecting and preventing financial exploitation.
(2)The Legislature recognizes that financial institutions are in a unique position to potentially discover financial exploitation when conducting transactions on behalf of and at the request of their customers.
(3)The Legislature recognizes that financial institutions have duties imposed by contract and duties imposed by both federal and state law to conduct transactions requested by their customers faithfully and timely in accordance with the customer's instructions.
(4)The Legislature recognizes that financial institutions do not have a duty to contravene the valid instructions of their customers and nothing in sections 8-2901 to 8-2903 creates such a duty.