{"data":{"id":"us-ne/neb.-rev.-stat.-25-227","jurisdiction":"us-ne","citation":"Neb. Rev. Stat. § 25-227","heading":"Neb. Rev. Stat. § 25-227","body":"(1) For purposes of this section:\n\n(a) Account agreement means one or more written instruments that establish when a certificate of deposit is payable;\n\n(b) Certificate of deposit means a deposit or share account at a depository institution that:\n\n(i) Is payable by the depository institution at the expiration of a specified time; and\n\n(ii) May be transferable or nontransferable, negotiable or nonnegotiable, and renewable or nonrenewable;\n\n(c) Depository institution means a state-chartered or federally chartered financial institution located in this state that is authorized to maintain certificates of deposit; and\n\n(d) Maturity date means the time specified in an account agreement when a certificate of deposit is first payable, without taking into account any agreement regarding renewals.\n\n(2) Subject to subsection (3) of this section, an action to enforce the obligation of a depository institution to pay all or part of the balance of a certificate of deposit shall be commenced by the earlier of:\n\n(a) The time that an action to enforce an obligation under subsection (e) of section 3-118 , Uniform Commercial Code, must be commenced if the certificate of deposit is subject to such section; or\n\n(b) Seven years after the later of:\n\n(i) The maturity date of the certificate of deposit;\n\n(ii) The due date of the certificate of deposit indicated in the depository institution's last written notice of renewal of the certificate of deposit, if any;\n\n(iii) The date of the last written communication from the depository institution recognizing the depository institution's obligation with respect to the certificate of deposit; or\n\n(iv) The last day of the taxable year for which a person identified in the certificate of deposit last reported interest income earned on the certificate of deposit on a federal or state income tax return.\n\n(3) Notwithstanding subsection (2) of this section, an action to enforce the obligation of a depository institution to pay all or part of the balance of an automatically renewing certificate of deposit in existence on July 1, 2008, shall be commenced by the later of:\n\n(a) Seven years after the later of:\n\n(i) The maturity date of the certificate of deposit;\n\n(ii) The due date of the certificate of deposit indicated in the depository institution's last written notice of renewal of the certificate of deposit, if any;\n\n(iii) The date of the last written communication from the depository institution recognizing the depository institution's obligation to pay the certificate of deposit; or\n\n(iv) The last day of the taxable year for which a person identified in the certificate of deposit last reported interest income earned on the certificate of deposit on a federal or state income tax return; or\n\n(b) One year after July 1, 2008.\n\n(4) This section applies to all certificates of deposit that are in existence on or after July 1, 2008.","path":["NE Code","Chapter 25"],"source_url":"https://nebraskalegislature.gov/laws/statutes.php?statute=25-227","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:21Z","sha256":"64716bcbfecc51b8ef5b3c883a8980b14c19ddba2f710338c0022d23eb13ff7b","source_id":"us-ne","stale":false,"prev":"us-ne/neb.-rev.-stat.-25-226","next":"us-ne/neb.-rev.-stat.-25-228"},"notice":"GroundRules: Original legal text. Not legal advice."}