Nebraska Revised Statute 8-212

Chapter 8 Section 212

8-212.

Pledged securities; primarily liable for trust or fiduciary obligations and losses.

Securities pledged as provided in section 8-209 shall be primarily liable for the obligations of the trust company, state or national bank, federal savings association, federally chartered trust company, out-of-state trust company authorized under the Interstate Trust Company Office Act or otherwise doing business in this state, or an out-of-state entity acting in a fiduciary capacity in this state, incurred while acting in any fiduciary capacity, for depository of money in court, and for losses arising from trust funds deposited with failed financial institutions in excess of deposit insurance limits and shall not be liable for any other debt or obligation of the financial institution or out-of-state entity until all such trust liabilities have been discharged.

Source

  • Laws 1919, c. 190, tit. V, art. XVIII, § 12, p. 722;
  • C.S.1922, § 8074;
  • C.S.1929, § 8-212;
  • Laws 1933, c. 20, § 1, p. 190;
  • Laws 1933, c. 18, § 78, p. 176;
  • Laws 1939, c. 3, § 2, p. 60;
  • C.S.Supp.,1941, § 8-212;
  • R.S.1943, § 8-212;
  • Laws 1993, LB 81, § 26;
  • Laws 1998, LB 1321, § 41;
  • Laws 2012, LB963, § 6.

Cross References

  • Interstate Trust Company Office Act, see section 8-2301.