reglab/housing_qa huggingface dataset:
NE Code § 8-305 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-305 - Corporate name; requirements; penalty.

8-305.  Corporate name; requirements; penalty.The words loan and building association, building association, building and loan association, savings and loan association, or loan and savings association, shall form part of the corporate name of every such corporation. No individual, firm, company, corporation, or association operating in the State of Nebraska, unless (1) organized under authority of the federal government, (2) organized as a building and loan association under the authority of any foreign state and complying with the provisions of the Nebraska statutes, (3) organized and incorporated under and in accordance with the provisions of sections 8-301 to 8-384, or (4) having been in existence and doing business in Nebraska under its present name for a period of ten years prior to January 1, 1949, shall, after August 27, 1949, use in its name the words loan and building association, building and loan association, savings and loan association, loan and savings association, loan and building, building and loan, savings and loan, loan and savings, building and savings, or savings and building, in combination with any other word or words. Any person, firm, company, corporation, or association violating this section shall be guilty of a Class V misdemeanor for each offense. Each day such person, firm, or corporation shall use any such prohibited words shall be deemed a separate and distinct offense in violation of this section.Source   Laws 1899, c. 17, § 1, p. 84;   R.S.1913, § 485;   Laws 1919, c. 190, tit. V, art. XIX, § 2, p. 724;   C.S.1922, § 8084;   C.S.1929, § 8-302;   Laws 1937, c. 19, § 1, p. 126;   C.S.Supp.,1941, § 8-302;   R.S.1943, § 8-305;   Laws 1949, c. 9, § 1, p. 69;   Laws 1977, LB 40, § 56;  Laws 2000, LB 932, § 8;  Laws 2005, LB 533, § 15.
NE Code § 8-306 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-306 - Capital stock; amount; articles of incorporation; filing fees.

8-306.  Capital stock; amount; articles of incorporation; filing fees.The capital stock of an association is not limited and shall consist of the aggregate of payments made by its members and dividends credited thereon, less withdrawals, and shall be represented by shares. It shall not be necessary for any association organized in and operating under the laws of the State of Nebraska to state in its articles of incorporation, or an amendment or amendments thereto, any amount of authorized capital stock. Upon the filing of articles of incorporation, or an amendment or amendments thereto, an association shall pay a filing fee of twenty-five dollars to the Secretary of State.Source   Laws 1919, c. 190, tit. V, art. XIX, § 2, p. 724;   C.S.1922, § 8084;   C.S.1929, § 8-302;   Laws 1937, c. 19, § 1, p. 126;   C.S.Supp., 1941, § 8-302;   R.S.1943, § 8-306;   Laws 1953, c. 10, § 1, p. 75. Annotations Under prior law, law required building and loan association to file articles with Secretary of State and pay filing fee in advance based upon authorized capital stock. State ex rel. Equitable Bldg. L. & S. Assn. v. Amsberry, 104 Neb. 843, 178 N.W. 828 (1920).
NE Code § 8-307.01 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-307.01 - Pensions and retirement plans; adoption.

8-307.01.  Pensions and retirement plans; adoption.A building and loan association may provide for pensions, retirement plans, and other benefits for its officers and employees, and may contribute to the cost thereof in accordance with the plan adopted by a two-thirds vote of the board of directors, and approved by a vote of a majority of all the stockholders represented at an annual meeting of such association upon written notice mailed ten days prior to the annual meeting to the last-known address of each stockholder as shown by the books of the association that a pension or retirement plan, or other plan for benefits for its officers and employees will be presented at such meeting, and approved by the Department of Banking and Finance.Source  Laws 1953, c. 14, § 1, p. 80.
NE Code § 8-308 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-308 - Stock; credit value; right of shareholder to withdraw; conditions; withdrawal notice; exception for liquidation.

8-308.  Stock; credit value; right of shareholder to withdraw; conditions; withdrawal notice; exception for liquidation.Any shareholder of an association shall be permitted to withdraw any or all of the credit value of his or her stock as shown by the books of the association, provided such stock is not pledged as security for a loan, by giving written notice of such intention to the secretary or managing officer of the association, and, at the expiration of thirty days following such notice, the member so withdrawing, or, if deceased, his legal representative, shall be entitled to receive the credit value of the stock at the time such notice was given, together with such proportion of the net profits accruing since the last dividend date, if the bylaws so provide and determine, less the admission fee, if any, or other just and lawful charges; Provided, the right to so withdraw shall not apply to shareholders of an association in process of liquidation.Source   Laws 1899, c. 17, § 3, p. 85;   R.S.1913, § 488;   Laws 1919, c. 190, tit. V, art. XIX, § 4, p. 724;   C.S.1922, § 8086;   C.S.1929, § 8-304;   Laws 1941, c. 12, § 1, p. 84;   C.S.Supp.,1941, § 8-304;   R.S.1943, § 8-308.
NE Code § 8-309 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-309 - Stock; withdrawal; limit; funds applicable.

8-309.  Stock; withdrawal; limit; funds applicable.At no time shall more than one-half of the unloaned funds in the treasury of the association and one-half of the accumulations thereto be applicable to the demands of the withdrawing shareholders without the consent by resolution of the board of directors. If there is delay in meeting payment to withdrawing members due to insufficient funds applicable to such purpose, such members shall be paid, and their stock thus repurchased retired, in the order of the filing of their withdrawal notices as funds applicable therefor are available.Source   Laws 1899, c. 17, § 3, p. 86;   R.S.1913, § 488;   Laws 1919, c. 190, tit. V, art. XIX, § 4, p. 725;   C.S.1922, § 8086;   C.S.1929, § 8-304;   Laws 1941, c. 12, § 1, p. 84;   C.S.Supp.,1941, § 8-304;   R.S.1943, § 8-309.
NE Code § 8-310 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-310 - Stock; withdrawal; insufficient funds to meet notices; limit of loans; requirements.

8-310.  Stock; withdrawal; insufficient funds to meet notices; limit of loans; requirements.So long as any association is delayed in meeting payment to withdrawing members due to insufficient funds applicable to such purpose, any loan made to a member shall be from funds not applicable for payment to withdrawing members, and shall not exceed one-half of the credit value of the member's stock unless secured also by the pledge of real estate. If the only security for such a loan be a pledge of the member's stock, the association shall take from the borrower a note for the payment thereof with interest, payable on demand, and a notice for withdrawal of sufficient of the stock to pay such note and interest unless such notice is already on file, and the association shall not demand payment of such note until it has funds available for the payment of the withdrawal notice in the sequence of its filing.Source   Laws 1941, c. 12, § 1, p. 84;   C.S.Supp.,1941, § 8-304;   R.S.1943, § 8-310.
NE Code § 8-311 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-311 - Stock; withdrawals by borrowing members; funds applicable.

8-311.  Stock; withdrawals by borrowing members; funds applicable.Withdrawals by a borrowing member from credits on stock pledged as security in connection with a real estate loan made by the association shall be permitted only at the discretion of the association, and if the association is delayed in meeting payments to withdrawing members due to insufficient funds applicable to such purpose, withdrawals permitted to such a borrowing member shall be paid only out of the funds of the association available for the making of real estate loans.Source   Laws 1941, c. 12, § 1, p. 84;   C.S.Supp.,1941, § 8-304;   R.S.1943, § 8-311.
NE Code § 8-312 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-312 - Stock; enforcement of withdrawals by directors.

8-312.  Stock; enforcement of withdrawals by directors.If the association has funds applicable for withdrawals and more than needed to retire the shares of members who have given written notice of an intention to withdraw, the directors may, if in their discretion it shall be for the best interests of the association, retire any unpledged shares by enforcing withdrawals of the same, subject to the approval and consent of the Department of Banking and Finance, and the owner or owners shall be paid the full credit value of such shares, which shall be the total of payments and dividends credited thereon less prior withdrawals, if any.Source   Laws 1899, c. 17, § 3, p. 86;   R.S.1913, § 488;   Laws 1919, c. 190, tit. V, art. XIX, § 4, p. 725;   C.S.1922, § 8086;   C.S.1929, § 8-304;   Laws 1941, c. 12, § 1, p. 85;   C.S.Supp.,1941, § 8-304;   R.S.1943, § 8-312.
NE Code § 8-313 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-313 - Stock; enforced withdrawal; time; notice of intention.

8-313.  Stock; enforced withdrawal; time; notice of intention.Such retirements, if made, shall be made immediately after a period fixed by the bylaws of the association for the declaration and payment of dividends of earnings, and the association shall, at least sixty days before so retiring any shares, send written notice to each person shown by the books of the association to be an owner of such shares, mailed to such person's last-known address, which notice shall inform such persons of the intent of the association to make the retirement on a designated date.Source   Laws 1941, c. 12, § 1, p. 85;   C.S.Supp.,1941, § 8-304;   R.S.1943, § 8-313.
NE Code § 8-314 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-314 - Stock; enforced withdrawal; notice of intention; contents.

8-314.  Stock; enforced withdrawal; notice of intention; contents.The association shall without delay, upon so retiring shares by order of its board of directors, send a written notice to each person shown by the books of the association to be an owner of shares thus retired, mailed to such person's last-known address, which notice shall contain information of the retirement of the shares and of the number of the certificate representing said shares, and of the amount to be paid to such owner upon delivery to the association of said certificate.Source   Laws 1941, c. 12, § 1, p. 85;   C.S.Supp.,1941, § 8-304;   R.S.1943, § 8-314.
NE Code § 8-315 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-315 - Loans; prepayment; required provisions; procedure.

8-315.  Loans; prepayment; required provisions; procedure.The bylaws shall also contain equitable provisions permitting the payment of loans before maturity, as follows: The borrower shall be charged with the full amount of his loan, together with all arrearages due thereon or on the shares pledged, or appertaining to the security given, and shall thereupon be allowed, as a credit, the withdrawal value of the shares pledged as security together with an equitable share of the premium, if any, paid in advance, and such other credits as may be returnable on account thereof, and the balance shall be received by the association in full settlement and discharge of such loan. The credits on shares pledged in connection with a loan secured by mortgage on real estate, may at any time, and in whole or in part, be appropriated by any association and applied in reduction of such loan. The withdrawal value of shares pledged as a part of a loan transaction, where such loan is secured by mortgage on real estate, shall be the total amount of the payments on such shares as shown by the books of the association, together with such proportionate share of the earnings as the borrower may be entitled to under the bylaws of the association, less the amounts of previous appropriations and applications on the loan and withdrawals, if any. The association shall not directly or indirectly charge any membership, admission, withdrawal, or any other fee or sum of money for the privilege of becoming, remaining, or ceasing to be a member of the association, except charges upon the making or modification of a loan authorized by section 8-330. Except as authorized by this section and section 8-316, the association shall not charge any member any sum of money by way of fine or penalty for any cause. Payments on real estate loans shall be applied first to the payment of interest on the unpaid balance of the loan and the remainder on the reduction of principal. Any delinquent real estate taxes, both regular and special, which become a prior lien to the association's mortgage, may be paid by the association and added to the unpaid balance of the loan.Source   Laws 1899, c. 17, § 4, p. 86;   R.S.1913, § 489;   Laws 1919, c. 190, tit. V, art. XIX, § 5, p. 725;   C.S.1922, § 8087;   C.S.1929, § 8-305;   Laws 1935, c. 14, § 1, p. 83;   C.S.Supp.,1941, § 8-305;   R.S.1943, § 8-315;   Laws 1967, c. 24, § 1, p. 129;   Laws 1978, LB 717, § 2.
NE Code § 8-316 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-316 - Loans; delinquency; required provisions; association's rights; computation of balance due.

8-316.  Loans; delinquency; required provisions; association's rights; computation of balance due.The bylaws shall further provide that if any member has become delinquent in his payment on any shares pledged for the security of any loan from the association, which delinquency shall include delinquent real estate taxes both regular or special irrespective of whether paid by the association and charged to principal or unpaid and a prior lien on the property, and such delinquency represents more than two monthly payments, such shares may be canceled, and he shall, as to such shares, cease to be a member of the association, and the withdrawal value, if any, of such shares at the date of cancellation, shall be credited on his loan. If, after the aforesaid credits, or other credits, a balance remains due the association on account of said loan, it may recover the balance either by the foreclosure and sale of the security given or by an action at law upon the evidence of indebtedness. The withdrawal value of shares pledged as a part of a loan transaction, where such loan is secured by mortgage on real estate, shall be the total amount of the payments on such shares as shown by the books of the association, together with such proportionate share of earnings as the borrower may be entitled to under the bylaws of the association, less the amounts of previous appropriations and applications on the loan and withdrawals, if any.Source   Laws 1899, c. 17, § 5, p. 87;   R.S.1913, § 490;   Laws 1919, c. 190, tit. V, art. XIX, § 6, p. 726;   C.S.1922, § 8088;   C.S.1929, § 8-306;   Laws 1935, c. 14, § 2, p. 83;   C.S.Supp.,1941, § 8-306;   R.S.1943, § 8-316;   Laws 1967, c. 24, § 2, p. 130;   Laws 1978, LB 717, § 3. Annotations  Receiver of insolvent association can recover from member amount loaned, with interest at legal rate, less amount paid on interest and premium, with interest from date of the several payments. Anselme v. American S. & L. Assn., 63 Neb. 525, 88 N.W. 665 (1902). Mortgage stipulating that borrower should receive credits for withdrawal value of shares in case of foreclosure, gives right to have same fixed and credited according to contract. Equitable B. & L. Assn. v. Bidwell, 60 Neb. 169, 82 N.W. 384 (1900).
NE Code § 8-317 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-317 - Certificates of stock; records; payments; matured stock; right to withdraw.

8-317.  Certificates of stock; records; payments; matured stock; right to withdraw.Certificates of stock or other written evidence thereof shall be issued for each account in conformity with sections 8-301 to 8-340.01 and the bylaws. Every stockholder shall receive credit on the books of the association for all amounts paid by the stockholder upon the stockholder's subscription for stock, together with the stockholder's pro rata share of all dividends declared, as hereinafter provided, and when the sum of such payments and dividends, less all fines or other charges, equal the par value of the shares of stock held by the stockholder, the stockholder shall be entitled to receive such par value, with such interest not exceeding the legal rate, as the directors may determine, from the time of maturity until paid. Holders of stock thus matured and members desiring to withdraw before such maturity shall be paid the value of their stock in the order of the maturity of or notice of withdrawal of such stock. At no time shall more than two-thirds of the unloaned funds in the treasury of the association, inclusive of such funds applicable to the demands of withdrawing stockholders, as hereinbefore provided, be applicable to the demands of holders of matured stock without the consent of the board of directors.Source   Laws 1899, c. 17, § 6, p. 87;   R.S.1913, § 491;   Laws 1919, c. 190, tit. V, art. XIX, § 7, p. 726;   C.S.1922, § 8089;   C.S.1929, § 8-307;   R.S.1943, § 8-317;   Laws 1947, c. 14, § 1, p. 79;   Laws 1975, LB 481, § 2;   Laws 1975, LB 508, § 1;   Laws 1978, LB 717, § 4;  Laws 2000, LB 932, § 9. Annotations  This section only fixes property rights of persons named; strangers to deposit allowed to establish oral trust in the account. Eden v. Eden, 182 Neb. 768, 157 N.W.2d 543 (1968). Certificates issued by building and loan association to two or more persons are payable to any one of them. Rose v. Hooper, 175 Neb. 645, 122 N.W.2d 753 (1963). Joint tenancy as to building and loan shares of stock is controlled by this section. Kindler v. Kindler, 169 Neb. 153, 98 N.W.2d 881 (1959). When building and loan stock certificate is made to the joint account of two or more persons, the survivor or survivors are entitled to the full title thereto. Tobas v. Mutual Building & Loan Assn., 147 Neb. 676, 24 N.W.2d 870 (1946).
NE Code § 8-320 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-320 - Reserve funds; idle funds; investments authorized; deposit of funds in banks.

8-320.  Reserve funds; idle funds; investments authorized; deposit of funds in banks.Any association may invest its reserve fund for the payment of contingent losses, any reserve fund created to protect against any other contingency, and any portion of its idle funds, not immediately needed to carry on its proper functions, as follows:(1) In bonds, notes, warrants, or other direct obligations of the United States or of any city, village, county, township, or school, road, water, sewer, paving, drainage, or sanitary and improvement district or any other political subdivision of the State of Nebraska;(2) In any securities and obligations issued by the Federal Home Loan Bank, the Federal National Mortgage Association, or successor corporations, bonds and debentures issued either singly or collectively by any of the twelve federal land banks, the twelve intermediate credit banks, or the thirteen banks for cooperatives under the supervision of the Farm Credit Administration, and securities of any other federal agency corporation; and(3) In securities issued pursuant to the Nebraska Business Development Corporation Act.Any provision of this section to the contrary notwithstanding, an association may make any investment that a federal savings and loan association doing business in this state is or may be authorized to make.Any association may deposit its funds, or any part thereof, in any national or state bank insured by the Federal Deposit Insurance Corporation or any corporation successor thereto and receive therefor certificates of time or savings deposit or the usual bank passbook credit subject to check or in share accounts of any state or federal savings and loan association the accounts of which are insured by the Federal Deposit Insurance Corporation or any corporation successor thereto.Source   Laws 1917, c. 10, § 3, p. 68;   Laws 1919, c. 190, tit. V, art. XIX, § 9, p. 727;   C.S.1922, § 8091;   C.S.1929, § 8-309;   Laws 1933, c. 25, § 1, p. 197;   Laws 1935, c. 14, § 3, p. 84;   Laws 1937, c. 14, § 1, p. 119;   Laws 1941, c. 90, § 32, p. 358;   C.S.Supp.,1941, § 8-309;   Laws 1943, c. 14, § 1(2), p. 79;   R.S.1943, § 8-320;   Laws 1955, c. 13, § 1, p. 81;   Laws 1959, c. 263, § 3, p. 922;   Laws 1963, c. 32, § 1, p. 192;   Laws 1992, LB 757, § 5;  Laws 2005, LB 533, § 17. Cross References  Nebraska Business Development Corporation Act, see section 21-2101.
NE Code § 8-320.01 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-320.01 - Investments; service corporations.

8-320.01.  Investments; service corporations.An association organized under the provisions of Chapter 8, article 3, may purchase, hold, and sell stock in any service corporation organized under the laws of the State of Nebraska whose stock is owned exclusively by building and loan associations whose operations are subject to audit by the Department of Banking and Finance and, if insured, by the Federal Home Loan Bank Board and whose activities are restricted to:(1) The providing of clerical, bookkeeping, accounting, statistical, and data processing services primarily for building and loan associations;(2) The purchase, development, and conveyance of real estate for the purpose of renovating and rehabilitating substandard housing including enrollment in state and federal programs in connection therewith, and for other lawful purposes;(3) The servicing, purchasing, selling, and making of loans upon real estate and participating interests therein; and(4) The investment in corporations whose principal activities are community development, urban renewal and industrial development.Source  Laws 1969, c. 44, § 1, p. 256.
NE Code § 8-321 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-321 - Loans; evidence of indebtedness; form; parity with federal associations.

8-321.  Loans; evidence of indebtedness; form; parity with federal associations.No evidence of indebtedness taken by said association for the return of any loan shall be negotiable in form, and whatever be its form, every such evidence of indebtedness shall be nonnegotiable in law, except as hereinafter provided, and no such debt or evidence of debt shall be assignable or transferable in any manner so as to prevent the discharge thereof by payments to the association, except as hereinafter provided, except that bonds and interest-bearing obligations, in which temporary investments may be made as hereinbefore provided, may be converted into cash in due course.Notwithstanding the provision of this section, an association may sell or purchase such loans, and enter into such participation loans, as are or may be permitted to federal savings and loan associations doing business in this state.Source   Laws 1899, c. 17, § 8, p. 89;   R.S.1913, § 493;   Laws 1917, c. 10, § 3, p. 68;   Laws 1919, c. 190, tit. V, art. XIX, § 9, p. 728;   C.S.1922, § 8091;   C.S.1929, § 8-309;   Laws 1933, c. 25;   § 1, p. 198;   Laws 1935, c. 14, § 3, p. 85;   Laws 1937, c. 14, § 1, p. 119;   Laws 1941, c. 90, § 32, p. 358;   C.S.Supp.,1941, § 8-309;   Laws 1943, c. 14, § 1(3), p. 79;   R.S.1943, § 8-321;   Laws 1959, c. 21, § 3, p. 150. Annotations Provision hereof against assigning or transferring evidence of debt was inserted for protection of borrowing member and does not prevent equitable transfer by association. Nebraska Central B. & L. Assn. v. H. J. Hughes & Co., 121 Neb. 266, 236 N.W. 699 (1931).