Whenever money shall be deposited or advanced as security on a contract for the use or rental of motion picture films, reels or views, and to secure the performance of the contract or to be applied to payments upon such contract when due, such money, with interest accruing thereon, if any, until repaid or so applied, shall continue to be the money of the person, association or corporation making such deposit or advance and shall be a trust fund in the possession of the person, association or corporation with whom such deposit or advance shall be made, and shall be deposited in a bank or trust company within the State of Nebraska, and shall not be mingled with other funds or become an asset of such trustee.

Source

  • Laws 1921, c. 196, § 1, p. 716;
  • C.S.1922, § 2468;
  • C.S.1929, § 36-212;
  • R.S.1943, § 36-211.

Terms Used In Nebraska Statutes 36-211

  • Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
  • State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
  • Trustee: A person or institution holding and administering property in trust.
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