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04/25/2014 (All day)

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§ 6-1450. Provisions for deposit and investment of funds received by the clerk of the county court.

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   (A) Public Moneys Paid to County Court Officials; Depository Banks; Designation; Pledged Securities; List.

   (1) All funds paid to any county court shall be deposited in such bank or banks as have been designated as official depositories for such funds. Depository banks shall be such banks as designated by the county judge or judges.

   (2) Deposits in excess of the amount insured by the Federal Deposit Insurance Corporation shall be made only as authorized by the provisions of Neb. Rev. Stat. §§ 77‑2326.04 through 77‑2326.09.

   (3) The clerk magistrate of each county court shall submit to the State Court Administrator a current and correct list and description of the securities pledged or in which a security interest has been granted by any depository bank to secure the deposits.

   (B) Investment of Moneys Not Otherwise Provided for by Law.

   (1) Individual trust funds. Trust funds in excess of $5,000 that can be expected to be held in excess of 90 days in trust by a county court may be placed, upon written request of an interested party, in interest-bearing certificates of deposit or a savings account of a bank or other financial institution or interest-bearing obligations of the federal government. This provision is effective only for individual deposits in excess of $5,000.

   (2) Pooled trust funds. Other funds received by the court and pooled should be invested wherever possible with consideration to:

   (a) the highest possible interest (such as NOW or SUPER NOW accounts);

   (b) the least restrictions (such as minimum balances, limitations on withdrawals, or number of checks per month); and

   (c) minimum or no service charges (to the extent service charges are incurred, such charges shall be paid out of state fees received that month).

   (C) Distribution of Earned Interest.

   (1) Individual funds. The interest earned from income accumulated from the investment of moneys from § 6‑1450(B)(1) shall be retained for the benefit of the owner of the funds.

   (2) Pooled funds. Each clerk of the court shall transmit the net of any interest from § 6-1450(B)(2), and fees for credit card use reduced first by any costs incurred as a result of credit card use and any other bank charges, to the State Treasurer along with the regular submissions of fees and costs.

Rule 50 amended June 1988. Renumbered and codified as § 6-1450, effective July 18, 2008.

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