NE LB231

Adopts the Uniform Special Deposits Act establishing a legal framework for "special deposits" — funds held at financial institutions under account agreements for specific purposes such as escrow, security deposits, earnest money, settlement obligations, or margin/collateral for financial market infrastructure

Requires special deposits to benefit at least two beneficiaries, serve a permissible purpose stated in the account agreement, and be subject to a contingency (an event that must occur before payment is required)

Protects special deposits from creditor process (attachment, garnishment, levy) against the financial institution, except when the institution becomes obligated to pay a specific beneficiary or depositor

Prohibits financial institutions from exercising recoupment or set-off rights against special deposits, with exceptions for overdraft fees, direct costs, and reversing erroneous credits

Sets default termination at five years after first funding unless otherwise specified, with remaining balances paid to depositors if beneficiaries cannot be identified or located