Nebraska Administrative Code
Topic - INVESTMENT COUNCIL
Title 213 - NEBRASKA INVESTMENT COUNCIL
Chapter 1 - PROCEDURES FOR DISTRIBUTION OF FUNDS TO BANKS, CAPITAL STOCK FINANCIAL INSTITUTIONS, AND QUALIFYING MUTUAL FINANCIAL INSTITUTIONS
Section 213-1-001 - TIME DEPOSIT OPEN ACCOUNTS

Universal Citation: 213 NE Admin Rules and Regs ch 1 ยง 001
Current through March 20, 2024

Per 72-1261 to 72-1269 (Nebraska Capital Expansion Act) the state investment officer shall, out of funds available for investment, offer to all banks, capital stock financial institutions, and qualifying mutual financial institutions in this state a time deposit open account. The deposit date shall be the last day of a month. If the last day of the month is not a working day, deposits will be made on the next working day. All maturities will be one year from date of deposit. The deposits will be automatically renewable. The state investment officer or the banks, capital stock financial institutions, and qualifying mutual financial institutions may change or terminate the principal amount with thirty days written notice. Banks, capital stock financial institutions, and qualifying mutual fund institutions are required to give 15 business days written notice when requesting a new deposit.

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