Nebraska § 76-1715 - Escrow of deposits; surety bond.
Full text of Nebraska Revised Statutes of Nebraska § 76-1715 — Escrow of deposits; surety bond., with citation guidance and answers to common questions.
§ 76-1715. Escrow of deposits; surety bond.
(1) Any deposit made in connection with the purchase or reservation of a time-share interval from a developer shall be placed in escrow, in an account designated solely for that purpose, in an institution whose accounts are insured by a governmental agency or instrumentality, until (a) delivered to the developer at the expiration of the time for rescission or any later time specified in any contract or sale, (b) delivered to the developer because of the purchaser's default under a contract to purchase the time-share interval, or (c) refunded to the purchaser. The developer shall register such escrow bank account with the commission and authorize the commission to examine the account.
(2) The escrow account shall be held in this state, except that the escrow account may be held in another state where the time-share project is located if (a) the account is designated solely for that purpose and is insured by a governmental agency or instrumentality, (b) the escrow agent is subject to the personal jurisdiction and venue of the district court in Nebraska located in the county of the purchaser's residence or principal office, and (c) the commission is authorized to examine the account.
(3) In lieu of placing deposits in an escrow account, the commission may accept from the developer a surety bond, issued by a company authorized and licensed to do business in this state, in an amount equal to fifty thousand dollars to cover any default by the developer to refund a deposit made in connection with a purchase or reservation of a time-share interval.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 76-1715
What does Revised Statutes of Nebraska § 76-1715 cover?
Section 76-1715 ("Escrow of deposits; surety bond.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 76-1715?
A common citation format is "Revised Statutes of Nebraska § 76-1715" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 76-1715 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.