Nebraska § 8-3212 - Duties and liability of financial institution.
Full text of Nebraska Revised Statutes of Nebraska § 8-3212 — Duties and liability of financial institution., with citation guidance and answers to common questions.
§ 8-3212. Duties and liability of financial institution.
(a) A financial institution does not have a fiduciary duty to any person with respect to a special deposit.
(b) When the financial institution holding a special deposit becomes obligated to pay a beneficiary, a debtor-creditor relationship arises between the financial institution and beneficiary.
(c) The financial institution holding a special deposit has a duty to a beneficiary to comply with the account agreement and the Uniform Special Deposits Act.
(d) If the financial institution holding a special deposit does not comply with the account agreement or the act, the financial institution is liable to a depositor or beneficiary only for damages proximately caused by the noncompliance. Except as provided by other law of this state, the financial institution is not liable for consequential, special, or punitive damages.
(e) The financial institution holding a special deposit may rely on records presented in compliance with the account agreement to determine whether the financial institution is obligated to pay a beneficiary.
(f) If the account agreement requires payment on presentation of a record, the financial institution shall determine within a reasonable time whether the record is sufficient to require payment. If the agreement requires action by the financial institution on presentation of a record, the financial institution is not liable for relying in good faith on the genuineness of the record if the record appears on its face to be genuine.
(g) Unless the account agreement provides otherwise, the financial institution is not required to determine whether a permissible purpose stated in the agreement continues to exist.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 8-3212
What does Revised Statutes of Nebraska § 8-3212 cover?
Section 8-3212 ("Duties and liability of financial institution.") 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 § 8-3212?
A common citation format is "Revised Statutes of Nebraska § 8-3212" (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 § 8-3212 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.