Nebraska § 16-715 - City funds; depository; security in lieu of bond; authorized.
Full text of Nebraska Revised Statutes of Nebraska § 16-715 — City funds; depository; security in lieu of bond; authorized., with citation guidance and answers to common questions.
§ 16-715. City funds; depository; security in lieu of bond; authorized.
In lieu of the bond required by section 16-714, any bank, capital stock financial institution, or qualifying mutual financial institution making application to become a depository may give security as provided in the Public Funds Deposit Security Act to the city clerk. The penal sum of such bond shall be equal to or greater than the amount of the deposit in excess of that portion of such deposit insured or guaranteed by the Federal Deposit Insurance Corporation. Section 77-2366 shall apply to deposits in capital stock financial institutions. Section 77-2365.01 shall apply to deposits in qualifying mutual financial institutions.
This section permits banks to pledge certain securities to secure deposits of a city of the first class. Luikart v. City of Aurora, 125 Neb. 263, 249 N.W. 590 (1933).
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 16-715
What does Revised Statutes of Nebraska § 16-715 cover?
Section 16-715 ("City funds; depository; security in lieu of bond; authorized.") 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 § 16-715?
A common citation format is "Revised Statutes of Nebraska § 16-715" (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 § 16-715 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.