reglab/housing_qa huggingface dataset:
NE Code § 21-1780 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1780 - Fees related to member accounts.

21-1780.  Fees related to member accounts.(1) A credit union may collect reasonable fees and charges with respect to member accounts. The fees may be for:(a) Additional copies of periodic statements;(b) Various types of transactions on a per-transaction basis;(c) A check or draft returned to the credit union by another financial institution because it was drawn against a closed account or an account with insufficient funds or for any other reason;(d) Stop-payment orders;(e) Any form of members' initiated withdrawal requests which the credit union rejects for any justifiable reason; and(f) Any other service or activity relating to member share accounts.(2) No credit union shall impose or increase any fee after October 1, 1996, until thirty calendar days after notification has been provided or made available to credit union members.Source  Laws 1996, LB 948, § 80.
NE Code § 21-1781 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1781 - Minor accounts.

21-1781.  Minor accounts.A share account may be issued to and deposits received from a member less than nineteen years of age who may withdraw funds from such account, including the dividends thereon. Payments on a share account by such individual and withdrawals on a share account by such individual shall be valid in all respects.Source  Laws 1996, LB 948, § 81.
NE Code § 21-1782 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1782 - Joint accounts.

21-1782.  Joint accounts.(1) A credit union member may designate any person or persons to own a share account with the member in joint tenancy with right of survivorship, as a tenant in common, or under any other form of joint ownership permitted by law and allowed by the credit union.(2) Payment may be made, in whole or in part, to any of the joint owners if an agreement permitting such payment was signed and dated by all persons when the shares were issued or thereafter. Payment made pursuant to this section discharges the credit union from all claims for amounts paid, whether or not the payment is consistent with the beneficial ownership of the account.(3) If more than one joint owner seeks credit union membership through a joint account, each prospective member must meet any membership requirements described in the credit union's bylaws.Source   Laws 1996, LB 948, § 82;  Laws 2017, LB375, § 8.
NE Code § 21-1783 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1783 - Trust accounts.

21-1783.  Trust accounts.(1) Share accounts may be owned by a member in trust for a beneficiary.(2) A beneficiary may be a minor, but no beneficiary, unless a member in his or her own right, shall be permitted to vote, obtain loans, or hold office or be required to pay a membership fee.(3) Payment of part or all of such trust account to the party in whose name the account is held shall, to the extent of such payment, discharge the liability of the credit union to that party and to the beneficiary, and the credit union shall be under no obligation to see to the application of such payment.(4) In the event of the death of the party who owns the trust account, the account funds and any dividends thereon shall be paid to the beneficiary if the credit union has not been given any other written notice of the existence or terms of any other trust and has not received a court order as to the disposition of the account.Source  Laws 1996, LB 948, § 83.
NE Code § 21-1784 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1784 - Liens.

21-1784.  Liens.A credit union shall have a lien on the share accounts from which a member may withdraw funds for his or her own use for (1) any loan or other obligation on which the member is an obligor or guarantor and (2) any other liability at the time owing to the credit union, unless the lien has been contractually waived, would cause the loss of a tax benefit for the member, or is prohibited by law. Such a lien shall not apply to an account in which the member may act solely on behalf of another person, nor shall it apply to an account in which the consent of a person not obligated on the loan or other obligation is required for a withdrawal. A credit union may exercise the lien up to the full amount of the account by offsetting funds in the account against any sums past due under such an obligation or, in the case of an obligation which has been accelerated, against the entire amount of the obligation.Source  Laws 1996, LB 948, § 84.
NE Code § 21-1785 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1785 - Dormant accounts.

21-1785.  Dormant accounts.If there has been no activity in a share account for one year, except for the posting of dividends, a credit union may impose a reasonable maintenance fee as provided in the bylaws.Source  Laws 1996, LB 948, § 85.
NE Code § 21-1786 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1786 - Reduction in shares.

21-1786.  Reduction in shares.Whenever the losses of a credit union, resulting from a depreciation in value of its loans or investments or otherwise, exceed its undivided earnings and reserves so that the estimated value of its assets is less than the total amount of share accounts and membership shares and the board of directors determines that the credit union may be subject to involuntary liquidation, the board may propose a reduction in shares. The credit union may, by a majority vote of those voting on the proposition, with the approval of the department, order a reduction in the membership shares and share accounts of each of its shareholders to divide the loss in proportion to the shareholdings held by shareholders in their respective share accounts with such terms as the department may prescribe.Source  Laws 1996, LB 948, § 86.
NE Code § 21-1787 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1787 - Purpose and conditions of loans.

21-1787.  Purpose and conditions of loans.Subject to the restrictions contained in the Credit Union Act, a credit union may make loans to its members for provident or productive purposes upon such terms and conditions and upon such security, real or personal, or on an unsecured basis as prescribed in its bylaws or written lending policy.Source  Laws 1996, LB 948, § 87.
NE Code § 21-1788 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1788 - Interest rate.

21-1788.  Interest rate.The interest rates on loans shall be determined by the board of directors, except that the rate shall not exceed eighteen percent per annum on the unpaid balance of the loan. The board may also authorize any refund of interest on such classes of loans under such conditions as it prescribes.Source  Laws 1996, LB 948, § 88.
NE Code § 21-1789 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1789 - Other charges related to loans.

21-1789.  Other charges related to loans.(1) In addition to interest charged on loans, a credit union may charge members all reasonable expenses in connection with the making, closing, disbursing, extending, collecting, or renewing of loans.(2) A credit union may assess charges to members, in accordance with its bylaws, for failure to meet their obligations to the credit union in a timely manner.Source  Laws 1996, LB 948, § 89.
NE Code § 21-1790 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1790 - Loan documentation.

21-1790.  Loan documentation.Except as provided in section 21-1793, every application for a loan shall be made in writing upon a form prescribed by the credit union. All loan obligations shall be evidenced by a written document.Source  Laws 1996, LB 948, § 90.
NE Code § 21-1791 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1791 - Loan limit.

21-1791.  Loan limit.The aggregate of loans to any one member shall be limited to ten percent of a credit union's share accounts, undivided earnings, and reserves. This limit shall not apply to loans which are fully secured by assignment of share accounts in the credit union.Source  Laws 1996, LB 948, § 91.
NE Code § 21-1792 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1792 - Installments.

21-1792.  Installments.A member may receive a loan in installments or in one sum and may prepay the whole or any part of the loan without penalty on any day on which the credit union is open for business. On a first or second mortgage a credit union may require that any partial prepayment (1) be made on the date monthly installments are due and (2) be in the amount of that part of one or more monthly installments that would be applicable to principal.Source  Laws 1996, LB 948, § 92.
NE Code § 21-1793 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1793 - Line of credit.

21-1793.  Line of credit.(1) Upon application by a member, the credit union may approve a self-replenishing line of credit, either on an unsecured basis or secured by real or personal property, and loan advances may be granted to the member within the limit of such line of credit. When a line of credit has been approved, no additional credit application shall be required as long as the aggregate indebtedness of the line of credit with the credit union does not exceed the approved limit. The credit union may, at its option, require reapplication for a line of credit either periodically or as circumstances warrant.(2) A line of credit shall be subject to a periodic review by the credit union in accordance with the written policies of the board of directors.Source  Laws 1996, LB 948, § 93.
NE Code § 21-1794 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1794 - Participation loans.

21-1794.  Participation loans.A credit union may participate in loans to credit union members jointly with other credit unions, credit union organizations, or other organizations pursuant to written policies established by the board of directors. A credit union which originates such a loan shall retain an interest of at least ten percent of the face amount of the loan.Source  Laws 1996, LB 948, § 94.
NE Code § 21-1795 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1795 - Other loan programs.

21-1795.  Other loan programs.(1) A credit union may participate in any guaranteed loan program of the federal or state government under the terms and conditions specified in the law under which such a program is provided.(2) A credit union may purchase the conditional sales contracts, notes, and similar instruments of its members.Source  Laws 1996, LB 948, § 95.
NE Code § 21-1796 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1796 - Loans to officials.

21-1796.  Loans to officials.(1) A credit union may, if permitted by its bylaws, make loans to its officials, employees, and loan officers if the loan complies with all lawful requirements under the Credit Union Act with respect to other members and is not on terms more favorable than those extended to other members.(2) If permitted in its bylaws, a credit union may permit its officials, employees, and loan officers to act as comakers, guarantors, or endorsers of loans to members of their immediate families, but not otherwise.(3) No loan applicant may pass on his or her own loan. In the case of a loan to the chief executive officer, the loan must be approved by the board of directors, an executive committee, or the credit committee, if the credit union has a credit committee, as specified in the bylaws.(4) The board of directors shall establish a policy on loans to officials and employees of a credit union if such loans are permitted in the bylaws.Source  Laws 1996, LB 948, § 96.
NE Code § 21-1797 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1797 - Liability insurance.

21-1797.  Liability insurance.A credit union may purchase and maintain insurance on behalf of any person who is or was an official, employee, or agent of the credit union or who is or was serving at the request of the credit union as an official, employee, or agent of another corporation, partnership, joint venture, trust, or other enterprise against any liability asserted against such person and incurred by such person in any such capacity or arising out of such person's status as such, whether or not the credit union would have the power to indemnify such person against such liability.Source  Laws 1996, LB 948, § 97.
NE Code § 21-1798 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1798 - Money-type instruments.

21-1798.  Money-type instruments.A credit union may collect, receive, and disburse money in connection with the providing of negotiable checks, money orders, traveler's checks, and other money-type instruments, for the providing of services through automatic teller machines, and for such other purposes as may provide benefit or convenience to its members. A credit union may charge fees for such services.Source  Laws 1996, LB 948, § 98.
NE Code § 21-1799 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-1799 - Federally authorized plans; powers; treatment.

21-1799.  Federally authorized plans; powers; treatment.(1) All credit unions chartered under the laws of Nebraska shall be qualified to act as a trustee or custodian within the provisions of the federal Self-Employed Individuals Tax Retirement Act of 1962 or under the terms and provisions of section 408(a) of the Internal Revenue Code if the provisions of such retirement plan require the funds of such trust or custodianship to be invested exclusively in shares or accounts in the credit union or other credit unions.(2) All credit unions chartered under the laws of Nebraska are qualified to act as trustee or custodian of a medical savings account created within the provisions of section 220 of the Internal Revenue Code and a health savings account created within the provisions of section 223 of the Internal Revenue Code. Except for judgments against the medical savings account holder or health savings account holder or his or her dependents for qualified medical expenses as defined under section 223(d)(2) of the Internal Revenue Code, funds credited to a medical savings account or health savings account below twenty-five thousand dollars are not susceptible to levy, execution, judgment, or other operation of law, garnishment, or other judicial enforcement and are not an asset or property of the account holder for purposes of bankruptcy law.(3) All credit unions chartered under the laws of Nebraska are qualified to act as trustee or custodian of an education individual retirement account created within the provisions of section 530 of the Internal Revenue Code.(4) All credit unions chartered under the laws of Nebraska are qualified to act as trustee or custodian of a Roth IRA created within the provisions of section 408A of the Internal Revenue Code.(5) If any such plan, in the judgment of the credit union, constitutes a qualified plan under the federal Self-Employed Individuals Tax Retirement Act of 1962, or under the terms and provisions of section 220, 223, 408(a), 408A, or 530 of the Internal Revenue Code, and the regulations promulgated thereunder at the time the trust was established and accepted by the credit union is subsequently determined not to be such a qualified plan, or subsequently ceases to be such a qualified plan, in whole or in part, the credit union may continue to act as trustee of any deposits which have been made under such plan and to dispose of such deposits in accordance with the directions of the member and beneficiaries thereof.(6) No credit union, with respect to savings made under this section, shall be required to segregate such savings from other assets of the credit union, but the credit union shall keep appropriate records showing in detail all transactions engaged in pursuant to this section.Source   Laws 1996, LB 948, § 99;  Laws 1999, LB 107, § 5;  Laws 2005, LB 465, § 2.
NE Code § 21-17,100 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,100 - Investment of funds.

21-17,100.  Investment of funds.The board of directors shall have charge of the investment of funds, except that the board may designate an investment committee or investment officer to make investments on its behalf under written investment policies established by the board.Source  Laws 1996, LB 948, § 100.
NE Code § 21-17,101 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,101 - Deposit of funds.

21-17,101.  Deposit of funds.The board of directors shall designate a depository or depositories for the funds of the credit union.Source  Laws 1996, LB 948, § 101.
NE Code § 21-17,103 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,103 - Transfer to regular reserve account.

21-17,103.  Transfer to regular reserve account.(1) Immediately before the payment of each dividend, the gross earnings of the credit union shall be determined. From this amount there shall be set aside as a regular reserve account for contingencies an amount as set forth in 12 C.F.R. 702.(2) The director may at any time require the credit union to increase the amount set aside in a regular reserve account pursuant to subsection (1) of this section or to establish a special reserve account if, in the judgment of the director, the financial condition of the credit union warrants such action.Source   Laws 1996, LB 948, § 103;  Laws 2001, LB 53, § 25.
NE Code § 21-17,104 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,104 - Allowance-for-loan-losses account.

21-17,104.  Allowance-for-loan-losses account.(1) A credit union shall establish an allowance-for-loan-losses account based upon reasonably foreseeable loan losses.(2) For purposes of calculating required transfers of income to the regular reserve account pursuant to sections 21-17,103 to 21-17,107, any balance in the allowance-for-loan-losses account may be included with the balance in the regular reserve account.Source  Laws 1996, LB 948, § 104.
NE Code § 21-17,105 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,105 - Use of regular reserve account.

21-17,105.  Use of regular reserve account.The regular reserve account shall belong to the credit union and shall be used to meet losses on risk assets and to meet such other classes of losses as are approved by the director. The regular reserve account shall not be distributed except on liquidation of the credit union or in accordance with a plan approved by the director.Source  Laws 1996, LB 948, § 105.
NE Code § 21-17,106 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,106 - Special reserve account.

21-17,106.  Special reserve account.In addition to the regular reserve account, a special reserve account to protect the interest of the members shall be established when required by rule or regulation or when found by the board of directors of the credit union or by the director, in any special case, to be necessary for that purpose.Source   Laws 1996, LB 948, § 106;   Laws 1997, LB 137, § 16.
NE Code § 21-17,107 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,107 - Waiver of reserve requirements.

21-17,107.  Waiver of reserve requirements.The director may waive, in whole or in part, and on a general or case-by-case basis, the reserving requirements of sections 21-17,103 to 21-17,107 when, in his or her opinion, such a waiver is necessary or desirable to protect the public interest and fulfill the purpose of the Credit Union Act.Source  Laws 1996, LB 948, § 107.
NE Code § 21-17,108 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,108 - Liquidation.

21-17,108.  Liquidation.(1) A credit union may elect to dissolve voluntarily and liquidate its affairs in the manner prescribed in this section.(2) If the board of directors decides to begin dissolution procedures, the board shall adopt a resolution recommending that the credit union be dissolved voluntarily and directing that the question of liquidation be submitted to the credit union members.(3) Within ten days after the board of directors decides to submit the question of liquidation to the members, the president shall notify the department and the National Credit Union Administration in writing of such decision and setting forth the reasons for the proposed liquidation. Within ten days after the members act on the question of liquidation, the president shall notify the department and the National Credit Union Administration in writing as to the action of the members on the proposal.(4) As soon as the board of directors decides to submit the question of liquidation to the members, payments on, withdrawal of, and making any transfer of share accounts to loans and interest, making investments of any kind, and granting of loans may be restricted or suspended pending action by the members on the proposal to dissolve. Upon approval by the members of the question of liquidation, all business transactions shall be permanently discontinued. Necessary expenses of operation shall continue to be paid upon the authorization of the board or the liquidating agent during the period of liquidation.(5) For a credit union to enter voluntary liquidation, approval by a majority of the members in writing or by a two-thirds majority of the members present at a regular or special meeting of the members shall be required. When authorization for liquidation is to be obtained at a meeting of the members, notice in writing shall be given to each member, by first-class mail, at least ten days prior to such meeting.(6) A liquidating credit union shall continue in existence for the purpose of discharging its debts, collecting on loans and distributing its assets, and doing all acts required in order to conclude its business and may sue and be sued for the purpose of enforcing such debts and obligations until its affairs are fully concluded.(7) The board of directors or the liquidating agent shall distribute the assets of the credit union or the proceeds of any disposition of the assets pursuant to section 21-1734.(8) As soon as the board of directors or the liquidating agent determines that all assets from which there is a reasonable expectancy of realization have been liquidated and distributed pursuant to section 21-1734, the board or the liquidating agent shall execute a certificate of dissolution on a form prescribed by the department and shall file the same, together with all pertinent books and records of the liquidating credit union, with the department and the credit union shall be dissolved.Source  Laws 1996, LB 948, § 108.
NE Code § 21-17,110 (2021)
2021 Nebraska Revised Statutes|Chapter 21 - Corporations and Other Companies|21-17,110 - Conversion.

21-17,110.  Conversion.(1) A credit union incorporated under the laws of this state may be converted into a federal credit union organized under the laws of the United States as prescribed in section 21-17,111.(2) A federal credit union organized under the laws of the United States may be converted into a credit union organized under the laws of this state as prescribed in section 21-17,112.Source  Laws 1996, LB 948, § 110.