reglab/housing_qa huggingface dataset:
NE Code § 8-228 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-228 - State trust company; merger or consolidation with a national bank; effect.

8-228.  State trust company; merger or consolidation with a national bank; effect.When a state trust company has merged or consolidated with a national bank, the resulting national bank and trust company shall be considered the same business and corporate entity as the former national bank and the former trust company and as a continuation thereof and the ownership and title to all properties, assets, obligations, and liabilities of the merging or consolidating trust company shall automatically pass to and become the properties, assets, obligations, and liabilities of the resulting national bank and trust company and shall be deemed to be transferred to and vested in the resulting national bank and trust company without any deed or other transfer. The resulting national bank and trust company, by virtue of such consolidation or merger and without any order or other action on the part of any court or otherwise, shall hold and enjoy the same and all rights of property, franchises, and interests, including appointments, designations, and nominations and all other rights and interests as trustee, personal representative, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises, and interests were held or enjoyed by any such merging or consolidating trust company at the time of such merger or consolidation. Upon the merger or consolidation, the state charter of the merging or consolidating state trust company shall automatically terminate and the charter shall be returned to the Department of Banking and Finance. Securities pledged to the department in accordance with section 8-209 shall be transferred to the name of the resulting national bank and trust company.Source   Laws 1959, c. 20, § 2, p. 146;   Laws 1986, LB 909, § 6;   Laws 1993, LB 81, § 44.
NE Code § 8-229 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-229 - State trust company; merger or consolidation with a national bank; redemption of stock; when; value, how determined.

8-229.  State trust company; merger or consolidation with a national bank; redemption of stock; when; value, how determined.When the merger or consolidation becomes effective, the owner of shares of a state trust company which were voted against a merger or consolidation with a national bank shall be entitled to receive the value of the stock in cash from the assets of the state trust company when the merger or consolidation becomes effective, upon written demand made to the resulting national bank and trust company at any time within thirty days after the effective date of the merger or consolidation, accompanied by the surrender of the stock certificates. The value of the shares shall be determined as of the date of the shareholders' meeting approving the merger or consolidation, by three appraisers, one to be selected by the owners of two-thirds of the shares voting against the merger or consolidation, one by the board of directors of the resulting national bank and trust company, and the third by the two so chosen. If the appraisal is not completed within sixty days after the merger or consolidation becomes effective, the Department of Banking and Finance may cause an appraisal to be made and the resulting appraisal shall then govern. The expenses of the appraisal caused to be made by the department shall be paid by the resulting national bank and trust company.Source   Laws 1959, c. 20, § 3, p. 146;   Laws 1993, LB 81, § 45.
NE Code § 8-229.01 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-229.01 - State trust company; merger or consolidation with state bank; procedure.

8-229.01.  State trust company; merger or consolidation with state bank; procedure.Any state trust company, with the approval of the Department of Banking and Finance, may, upon a vote of the holders of at least two-thirds of its capital stock, merge or consolidate with any state bank which has obtained powers to conduct a trust business pursuant to the Nebraska Trust Company Act. The merging trust company must file with the department a certificate of the stockholders of the trust company that the resolution to merge or consolidate has been duly adopted by the holders of at least two-thirds of the capital stock of the trust company.Source   Laws 1993, LB 81, § 46;   Laws 1998, LB 1321, § 50.
NE Code § 8-229.02 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-229.02 - State trust company; merger or consolidation with a state bank; effect.

8-229.02.  State trust company; merger or consolidation with a state bank; effect.When a state trust company has merged or consolidated with a state bank, the resulting state bank and trust company shall be considered the same business and corporate entity as the former state bank and the former trust company and as a continuation thereof. The ownership and title to all properties, assets, obligations, and liabilities of the merging or consolidating trust company shall automatically pass to and become the properties, assets, obligations, and liabilities of the resulting state bank and trust company and shall be deemed to be transferred to and vested in the resulting state bank and trust company without any deed or other transfer. The resulting state bank and trust company, by virtue of such consolidation or merger and without any order or other action on the part of any court or otherwise, shall hold and enjoy the same and all right of property, franchises, and interests, including appointments, designations, and nominations and all other rights and interests as trustee, personal representative, administrator, registrar of stocks and bonds, guardian of estates, assignee, receiver, and in every other fiduciary capacity, in the same manner and to the same extent as such rights, franchises, and interests were held or enjoyed by any such merging or consolidating trust company at the time of such merger or consolidation. Upon the merger or consolidation, the state charter of the merging or consolidating state trust company shall automatically be transferred to the resulting state bank and trust company.Source  Laws 1993, LB 81, § 47.
NE Code § 8-229.03 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-229.03 - State trust company; merger or consolidation with a state bank; redemption of stock; when; value, how determined.

8-229.03.  State trust company; merger or consolidation with a state bank; redemption of stock; when; value, how determined.When the merger or consolidation becomes effective, the owner of shares of a trust company which were voted against a merger or consolidation with a state bank shall be entitled to receive the value of the stock in cash from the assets of the state trust company upon written demand made to the resulting state bank and trust company at any time within thirty days after the effective date of the merger or consolidation accompanied by the surrender of the stock certificates. The value of the shares shall be determined as of the date of the shareholders' meeting approving the merger or consolidation. An appraisal shall be conducted by three appraisers, one to be selected by the owners of two-thirds of the shares voting against the merger or consolidation, one by the board of directors of the resulting state bank and trust company, and the third by the two so chosen. If the appraisal is not completed within sixty days after the merger or consolidation becomes effective, the Department of Banking and Finance may cause an appraisal to be made and the resulting appraisal shall then govern. The expenses of the appraisal caused to be made by the department shall be paid by the resulting state bank and trust company.Source  Laws 1993, LB 81, § 48.
NE Code § 8-230 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-230 - Terms, defined.

8-230.  Terms, defined.For purposes of the Nebraska Trust Company Act, unless the context otherwise requires:(1) Agency capacity means a capacity resulting from an undertaking to act alone or jointly with others primarily as agent for another in all matters connected with its undertaking, including the capacities of registrar, paying agent, or transfer agent with respect to stocks, bonds, or other evidences of indebtedness of any corporation, association, municipality, state, or public authority, escrow agent, or agent for the investment of money or any other similar capacity;(2) Branch trust office means an office of a trust company, other than the main or principal office of a trust company, at which a trust company may act in any fiduciary capacity or conduct any activity permitted under the Nebraska Trust Company Act;(3) Fiduciary capacity means a capacity resulting from an undertaking to act alone or jointly with others primarily for the benefit of another in all matters connected with the undertaking and includes the capacities of trustee, including trustee of a common trust fund, administrator, personal representative, guardian of an estate, conservator, receiver, attorney in fact, and custodian and any other similar capacity;(4) Representative trust office means an office at which a trust company does not act in any fiduciary capacity or conduct or engage in any activity related to its fiduciary capacities but may otherwise engage in any other activity permitted under the Nebraska Trust Company Act; and(5) Trust company means any trust company which is incorporated under the laws of this state, any national banking association having its principal office in this state and authorized to conduct a trust company business as defined in the Nebraska Trust Company Act, any bank authorized to conduct a trust company business in a trust department pursuant to sections 8-159 to 8-162, any federal savings association authorized to conduct a trust company business, and any federally chartered trust company.Source   Laws 1977, LB 338, § 1;   Laws 1986, LB 909, § 7;   Laws 1993, LB 81, § 49;   Laws 1998, LB 1321, § 51;  Laws 2012, LB963, § 10.
NE Code § 8-231 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-231 - Trust company; substituted in fiduciary capacity for affiliated bank; application; court order; filing.

8-231.  Trust company; substituted in fiduciary capacity for affiliated bank; application; court order; filing.(1) Any trust company which has been duly authorized to commence the business for which it is organized and which has made the pledge of securities required by sections 8-209 and 8-210 may file an application in the county court of the county in which an affiliated bank is located requesting that it be substituted, except as may be expressly excluded in such application, in every fiduciary capacity for such affiliated bank specified in the application, and such specified affiliated bank shall join in such application. Such application may be made by the trust company seeking substitution and need not list the fiduciary capacities in which substitution is proposed to be made. For purposes of this section, affiliated bank with respect to a trust company shall mean any bank incorporated under the laws of this state and any national banking association having its principal office in this state, more than fifty percent of the voting stock of which is owned directly or indirectly by the same bank holding company as defined in the United States Bank Holding Company Act, as amended, that owns directly or indirectly more than fifty percent of the voting stock of such trust company. The county court may require such notice as it deems necessary.(2) When the county court finds that such trust company has been duly authorized to commence the business for which it is organized and that it has made a pledge of securities in accordance with sections 8-209 and 8-210, the county court may enter an order substituting such trust company in every fiduciary capacity for the specified affiliated bank except as may be otherwise specified in the application.(3) Upon entry of such order, such trust company shall, without further act, be substituted in every such fiduciary capacity, and such application may be evidenced by filing a copy of the order with the clerk of any county court in this state.Source   Laws 1977, LB 338, § 2;   Laws 1993, LB 81, § 50.
NE Code § 8-232 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-232 - Designation of bank as fiduciary in a will or other instrument; effect.

8-232.  Designation of bank as fiduciary in a will or other instrument; effect.Each designation in a will or other instrument executed either before, on, or after September 9, 1993, in which a bank is designated as fiduciary shall be deemed a designation of the trust company substituted for the bank pursuant to sections 8-230 to 8-233 except when the will or other instrument is executed after such substitution. Any grant in a will or other instrument of any discretionary power shall be deemed conferred upon the trust company deemed designated as the fiduciary pursuant to this section.Source   Laws 1977, LB 338, § 3;   Laws 1993, LB 81, § 51.
NE Code § 8-233 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-233 - Trust company; substituted as fiduciary; accounting; transfer of assets.

8-233.  Trust company; substituted as fiduciary; accounting; transfer of assets.A bank shall account jointly with the trust company which has been substituted as fiduciary for the bank pursuant to sections 8-230 to 8-233 for the accounting period during which the trust company is initially so substituted. Upon substitution pursuant to sections 8-230 to 8-233, the bank shall deliver to the trust company all assets held by the bank as fiduciary, except assets held for accounts with respect to which there has been no substitution pursuant to sections 8-230 to 8-233, and upon substitution all the assets shall become the property of the trust company without the necessity of any instrument of transfer or conveyance.Source   Laws 1977, LB 338, § 4;   Laws 1993, LB 81, § 52.
NE Code § 8-235 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-235 - Representative trust offices authorized; procedure.

8-235.  Representative trust offices authorized; procedure.(1) With the approval of the Director of Banking and Finance, a corporation organized to do business as a trust company under the Nebraska Trust Company Act may establish and maintain representative trust offices within this state and in any other state pursuant to section 8-2304.(2) A corporation organized to do business as a trust company under the Nebraska Trust Company Act, in order to establish a representative trust office in Nebraska pursuant to subsection (1) of this section, shall apply to the Director of Banking and Finance on a form prescribed by the director. Within sixty days after receipt of a substantially complete application, the director shall notify the trust company of his or her decision on the application. If the director does not act on the application, the application shall be deemed approved on the sixty-first day after receipt of a substantially complete application.(3) The director shall approve the application for a representative trust office if he or she finds that:(a) The establishment of the representative trust office would not adversely affect the financial condition of the trust company;(b) The activities at the representative trust office will be limited to nonfiduciary trust activities; and(c) Establishment of the representative trust office would be in the public interest.(4) A state-chartered bank authorized to conduct a trust business pursuant to sections 8-159 to 8-162 may establish and maintain representative trust offices within this state and in any other state pursuant to section 8-2304. The procedure for the establishment of any representative trust offices under this subsection shall be the same as provided in subsections (2) and (3) of this section. The activities at the representative trust office shall be limited to the activities permitted by the Nebraska Trust Company Act, except that no fiduciary activities may be conducted at the representative trust offices. The general business of banking shall not be conducted at the representative trust offices.(5) A representative trust office shall not be closed unless the trust company or state-chartered bank provides sixty days' prior written notice to the director.Source  Laws 1998, LB 1321, § 53.
NE Code § 8-301 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-301 - Supervision and control; powers of Department of Banking and Finance.

8-301.  Supervision and control; powers of Department of Banking and Finance.The Department of Banking and Finance shall have power to issue permits to and shall have general supervision and control of all building and loan associations as defined in sections 8-301 to 8-340.01.Source   Laws 1919, c. 190, tit. V, art. XIX, § 1, p. 723;   C.S.1922, § 8083;   C.S.1929, § 8-301;   R.S.1943, § 8-301;  Laws 2000, LB 932, § 7. Annotations Supervision and control extends to branches. First Fed. Sav. & Loan Assn. v. Department of Banking, 187 Neb. 562, 192 N.W.2d 736 (1971).
NE Code § 8-302 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-302 - Power to require and receive payments from members; limitations.

8-302.  Power to require and receive payments from members; limitations.Any association of not less than five persons, which shall be organized within this state for the purpose of raising money to be loaned among its members, shall be authorized and empowered to levy, assess and collect from its members such sums of money by rates of stated dues, fines, interest and premiums on loans, as the corporation may provide in its articles of incorporation or bylaws, and to exercise such other powers as are hereinafter conferred. Every such corporation may, however, receive payments from its members in any amount, which together with the balance, if any, formerly to the credit of the member thus paying, upon the books of the corporation, shall not exceed the par value of the shares of stock held by him.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. 125;   C.S.Supp.,1941, § 8-302;   R.S.1943, § 8-302;   Laws 1978, LB 717, § 1. Annotations  Failure of foreign association to renew its authority to transact business in this state does not invalidate prior contracts. Eastern B. & L. Assn. v. Tonkinson, 76 Neb. 470, 107 N.W. 762 (1906). A building and loan association may deduct from a loan made to one of its members the premium bid for the right of precedence in taking a loan, provided such loan was made under a system of open competitive bidding. South Omaha L. & B. Assn. v. Wirrick, 63 Neb. 598, 88 N.W. 694 (1902). Section held constitutional. Nebraska L. & B. Assn. v. Perkins, 61 Neb. 254, 85 N.W. 67 (1901); Livingston L. & B. Assn. v. Drummond, 49 Neb. 200, 68 N.W. 375 (1896). Stockholder cannot rescind, recover money paid for stock, and repudiate obligations assumed on account of mismanagement of officers. American B. & L. Assn. v. Bear, 48 Neb. 455, 67 N.W. 500 (1896). Act cannot affect contracts made before its passage. American B. & L. Assn. v. Rainbolt, 48 Neb. 434, 67 N.W. 493 (1896). Subscribers seeking rescission of contract must return stock as condition to right to rescind. Building & L. Assn. of Dakota v. Cameron, 48 Neb. 124, 66 N.W. 1109 (1896). Corporations, not building and loan associations, though similar in character, may incorporate under general law. York Park Bldg. Assn. v. Barnes, 39 Neb. 834, 58 N.W. 440 (1894). Company will be bound by that construction of the contract which it understood and knew the other party placed upon it, by which the other party was induced to enter into contract. People's B. L. & S. Assn. v. Klauber, 1 Neb. Unof. 676, 95 N.W. 1072 (1901).
NE Code § 8-303 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-303 - Stock; ownership; limit; investment shares; loans.

8-303.  Stock; ownership; limit; investment shares; loans.(1) No person shall hold in his own right, or jointly with others, a total of withdrawal value of investment stock of more than sixty thousand dollars or an amount representing two percent of the total assets of the association, whichever is greater, except that investment shares which, when issued by an association, are within the limits prescribed in this subsection, may continue to be lawfully held irrespective of any shrinkage in the assets of the association.(2) In any association, borrowing members may hold stock to the amount of sixty thousand dollars or an amount equal to five percent of the assets of the association, whichever amount is greater, except that (a) no borrowing member may hold stock in excess of one hundred thousand dollars unless that association has a reserve fund of at least five percent of the total assets of the association; and (b) if stock held by borrowing members which, when issued by an association, is within the limits prescribed in this subsection, it shall continue to be lawfully held irrespective of any shrinkage in the assets of the association.(3) Notwithstanding the provision of this section, an association may issue any investment shares and make any loan to borrowing members which is or may be permitted to a federal association doing business in this state.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. 125;   C.S.Supp.,1941, § 8-302;   R.S.1943, § 8-303;   Laws 1945, c. 9, § 1, p. 106;   Laws 1953, c. 8, § 1, p. 72;   Laws 1955, c. 10, § 1, p. 76;   Laws 1959, c. 21, § 1, p. 147;   Laws 1969, c. 37, § 1, p. 244.
NE Code § 8-304 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-304 - Stockholders; voting; limitations.

8-304.  Stockholders; voting; limitations.Subject to the limitations set forth in section 8-303, each investing member shall be permitted to cast one vote for each hundred dollars of withdrawal value of his stock. Each borrowing member shall be permitted as a borrower to cast one vote, or to cast one vote for each one hundred dollars of the credit value of his stock. Fifteen or more members present at a regular or special meeting of members constitute a quorum. Voting may be by proxy if the instrument authorizing the proxy to vote shall have been executed by a member.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. 125;   C.S.Supp.,1941, § 8-302;   R.S.1943, § 8-304;   Laws 1945, c. 9, § 2, p. 107;   Laws 1953, c. 9, § 1, p. 74.