76-549 Abstracters Board of Examiners Cash Fund; created; investment; board members and director; compensation.
76-549. AbstractersBoard of Examiners Cash Fund; created; investment; boardmembers and director; compensation.(1) All fees collected pursuantto the Abstracters Act shall be deposited in the state treasury to be creditedto the Abstracters Board of Examiners Cash Fund which is hereby created. Allactual and necessary expenses of the board shall be paid from such fund.(2) No member of the boardshall receive a salary. Each member of the board shall receive as compensationfor each day or part thereof of actual service while attending meetings orotherwise engaged upon the business of the board fifty dollars and expensesincurred in the performance of official duties. The director shall be paida salary to be determined by the board.(3) Transfersmay be made from the Abstracters Board of Examiners Cash Fund to the GeneralFund at the direction of the Legislature. Any money in the Abstracters Boardof Examiners Cash Fund available for investment shall be invested by the stateinvestment officer pursuant to the Nebraska Capital Expansion Act and theNebraska State Funds Investment Act. SourceLaws 1965, c. 453, § 5, p. 1438; Laws 1969, c. 615, § 6, p. 2497; Laws 1971, LB 25, § 1; Laws 1973, LB 330, § 2; Laws 1981, LB 204, § 147; R.S.1943, (1981), § 76-513; Laws 1985, LB 47, § 19; Laws 2009, First Spec. Sess., LB3, § 52.Effective Date: November 21, 2009 Cross ReferencesNebraska Capital Expansion Act, see section 72-1269.Nebraska State Funds Investment Act, see section 72-1260. Annotations"Preparing written reports of title to real property" constitutes the "business of abstracting" for purposes of the Abstracters Act only when done in exchange for a fee or other valuable consideration. So construed, the Abstracters Act is not unconstitutionally overbroad on its face. State v. Rabourn, 269 Neb. 499, 693 N.W.2d 291 (2005).