Skip to main content
Find a Lawyer

Nebraska Revised Statutes Chapter 8. Banks and Banking § 8-3211. Recoupment or set off

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) Except as provided in subsection (b) or (c), a financial institution may not exercise a right of recoupment or set off against a special deposit.

(b) An account agreement may authorize the financial institution to debit the special deposit:

(1) when the financial institution becomes obligated to pay a beneficiary, in an amount that does not exceed the amount necessary to discharge the obligation;

(2) for a fee assessed by the financial institution that relates to an overdraft in the special deposit account;

(3) for costs incurred by the financial institution that relate directly to the special deposit; or

(4) to reverse an earlier credit posted by the financial institution to the balance of the special deposit account, if the reversal occurs under an event or circumstance warranted under other law of this state governing mistake and restitution.

(c) The financial institution holding a special deposit may exercise a right of recoupment or set off against an obligation to pay a beneficiary, even if the financial institution funds payment from the special deposit.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 8. Banks and Banking § 8-3211. Recoupment or set off - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-8-banks-and-banking/ne-rev-st-sect-8-3211/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard