Public funds; treasurers or secretary-treasurers; when not liable under bond.

  1. Law
  2. Nebraska Revised Statutes
  3. Revenue and Taxation
  4. Public funds; treasurers or secretary-treasurers; when not liable under bond.

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77-2329. Public funds; treasurers or secretary-treasurers; when not liable under bond.

No treasurer or secretary-treasurer shall be liable on his or her bond for money on deposit in a bank, capital stock financial institution, or qualifying mutual financial institution under and by direction of the proper legal authority if the bank, capital stock financial institution, or qualifying mutual financial institution has given bond in accordance with section 14-556, 15-846, 16-714, 17-720, 77-2318, 77-2344, 77-2352, 77-2355, or 77-2375 or given security as provided in the Public Funds Deposit Security Act.

Source

  • Laws 1891, c. 50, § 11, p. 354;
  • R.S.1913, § 6665;
  • C.S.1922, § 6196;
  • C.S.1929, § 77-2513;
  • R.S.1943, § 77-2329;
  • Laws 1953, c. 284, § 3, p. 922;
  • Laws 1987, LB 440, § 10;
  • Laws 1989, LB 33, § 52;
  • Laws 1994, LB 1118, § 19;
  • Laws 1996, LB 1274, § 38;
  • Laws 2001, LB 362, § 51.

Cross References

  • Public Funds Deposit Security Act, see section 77-2386.

Annotations

  • This section is limited to state and county funds. Village of Hampton v. Gausman, 136 Neb. 550, 286 N.W. 757 (1939).

  • Designation of bank as depository does not relieve treasurer from liability where bank did not give bond. City of Cozad v. Thompson, 126 Neb. 79, 252 N.W. 606 (1934).

  • County treasurer is not liable for interest on deposits which he has not collected and is unable to collect. Custer County v. Cavenee, 99 Neb. 101, 155 N.W. 605 (1915).

  • Reference to proper legal authority is to county board. State ex rel. First Nat. Bank of Stanton v. Owen, 41 Neb. 651, 59 N.W. 886 (1894).


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