reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-183.04 - State or federal savings association; mutual savings association; retention of mutual form authorized.

8-183.04.
State or federal savings association; mutual savings association; retention of mutual form authorized.
(1) Notwithstanding any other provision of the Nebraska Banking Act or any other Nebraska law, a state or federal savings association which was formed and in operation as a mutual savings association as of July 15, 1998, may elect to retain its mutual form of corporate organization upon conversion to a state bank.
(2) All references to shareholders or stockholders for state banks shall be deemed to be references to members for such a converted savings association.
(3) The amount and type of capital required for such a converted savings association shall be as required for federal mutual savings associations in 12 C.F.R. 5.21, as such regulation existed on January 1, 2023, except that if at any time the department determines that the capital of such a converted savings association is impaired, the director may require the members to make up the capital impairment.
(4) The director may adopt and promulgate rules and regulations governing such converted mutual savings associations. In adopting and promulgating such rules and regulations, the director may consider the provisions of sections 8-301 to 8-384 governing savings associations in mutual form of corporate organization.
Source
Laws 1998, LB 1321, § 30;
Laws 2005, LB 533, § 10;
Laws 2010, LB890, § 5;
Laws 2017, LB140, § 79;
Laws 2018, LB812, § 5;
Laws 2019, LB258, § 5;
Laws 2020, LB909, § 7;
Laws 2021, LB363, § 6;
Laws 2022, LB707, § 16;
Laws 2023, LB92, § 8.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-183.05 - State or federal savings association; issuance of state bank charter; effect; section, how construed.

8-183.05.
State or federal savings association; issuance of state bank charter; effect; section, how construed.
(1) Upon the issuance of a state bank charter to a converting savings association, the corporate existence of the converting savings association shall not terminate, but such bank shall be a continuation of the entity so converted and all property of the converted savings association, including its rights, titles, and interests in and to all property of whatever kind, whether real, personal, or mixed, things in action, and every right, privilege, interest, and asset of any conceivable value or benefit then existing, or pertaining to it, or which would inure to it, immediately, by operation of law and without any conveyance or transfer and without any further act or deed, shall vest in and remain the property of such converted savings association, and the same shall have, hold, and enjoy the same in its own right as fully and to the same extent as the same was possessed, held, and enjoyed by the converting savings association.
(2) Upon issuance of the charter, the new state bank shall continue to have and succeed to all the rights, obligations, and relations of the converting savings association.
(3) All pending actions and other judicial proceedings to which the converting savings association is a party shall not be abated or discontinued by reason of such conversion but may be prosecuted to final judgment, order, or decree in the same manner as if such conversion had not been made, and such converted savings association may continue the actions in its new corporate name. Any judgment, order, or decree may be rendered for or against the converting savings association theretofore involved in the proceedings.
(4) Nothing in this section shall be construed to authorize a converted savings association to establish branches except as permitted by section 8-157 and the Interstate Branching and Merger Act. This subsection shall not be construed to require divestiture of any branches of a savings association in existence at the time of the conversion to a state bank charter.
Source
Laws 1998, LB 1321, § 31;
Laws 2002, LB 1089, § 4;
Laws 2012, LB963, § 3;
Laws 2017, LB140, § 80.
Cross References
Interstate Branching and Merger Act, see section 8-2101.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-184 - Voluntary liquidation; approval required; examination; fees.

8-184.
Voluntary liquidation; approval required; examination; fees.
Whenever any bank shall desire to go into voluntary liquidation, it shall first obtain the written consent of the director who may, before granting such request, order a special examination of the affairs of such bank, for which the same fees may be collected as in regular examination.
Source
Laws 1909, c. 10, § 34, p. 83;
R.S.1913, § 313;
Laws 1919, c. 190, tit. V, art. XVI, § 34, p. 699;
C.S.1922, § 8014;
C.S.1929, § 8-153;
Laws 1933, c. 18, § 34, p. 153;
C.S.Supp., 1941, § 8-153;
R.S.1943, § 8-158;
Laws 1963, c. 29, § 84, p. 167;
Laws 2017, LB140, § 81.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-185 - Voluntary liquidation; procedure.

8-185.
Voluntary liquidation; procedure.
Any bank may voluntarily liquidate by paying off all its depositors in full. The bank so liquidating shall file a certified statement with the department, setting forth the fact that all its liabilities have been paid and naming its stockholders with the amount of stock held by each, and surrender its charter. The department shall cause an examination to be made of any such bank for the purpose of determining that all of its liabilities, except liabilities to stockholders, have been paid. Upon such examination, if it appears that all liabilities other than liabilities to stockholders have been paid, the bank shall cease to be subject to the Nebraska Banking Act.
Source
Laws 1909, c. 10, § 42, p. 86;
R.S.1913, § 321;
Laws 1919, c. 190, tit. V, art. XVI, § 42, p. 702;
Laws 1921, c. 299, § 1, p. 954;
C.S.1922, § 8022;
C.S.1929, § 8-169;
Laws 1933, c. 18, § 39, p. 155;
C.S.Supp.,1941, § 8-169;
R.S.1943, § 8-159;
Laws 1963, c. 29, § 85, p. 167;
Laws 1987, LB 2, § 10;
Laws 1998, LB 1321, § 15;
Laws 2017, LB140, § 82.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-186 - Bank; possession; voluntary surrender to department; notice; posting; liens dissolved.

8-186.
Bank; possession; voluntary surrender to department; notice; posting; liens dissolved.
Any bank may place its affairs and assets under the control of the department by posting on its door the following notice: This bank is in the hands of the Department of Banking and Finance. The posting of such notice, or the taking possession of any bank by the department or by any financial institution examiner shall be sufficient to place all of its assets of whatever nature immediately in the possession of the department, and shall operate as a bar to the levying of attachments or executions thereon, and shall operate to dissolve and release all levies, judgment liens, attachments, or other liens obtained through legal proceedings within sixty days next preceding the posting of such notice or the taking possession of such bank by the department.
Source
Laws 1909, c. 10, § 43, p. 86;
R.S.1913, § 322;
Laws 1919, c. 190, tit. V, art. XVI, § 43, p. 703;
C.S.1922, § 8023;
C.S.1929, § 8-170;
Laws 1933, c. 18, § 40, p. 156;
C.S.Supp.,1941, § 8-170;
R.S.1943, § 8-172;
Laws 1963, c. 29, § 86, p. 168;
Laws 2017, LB140, § 83.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-188 - Banks; possession by department; effective upon notice.

8-188.
Banks; possession by department; effective upon notice.
The director or any deputy, counsel, or examiner authorized by the director may, on behalf of the department, take possession of a bank by handing to the president, cashier, or any person in charge of the bank, a written notice that the bank is in the possession of the department.
Source
Laws 1925, c. 30, § 2, p. 123;
C.S.1929, § 8-183;
Laws 1933, c. 18, § 45, p. 159;
C.S.Supp.,1941, § 8-183;
R.S.1943, § 8-174;
Laws 1963, c. 29, § 88, p. 169;
Laws 2017, LB140, § 85.
Annotations
Under facts in this case, denial of motion for continuance under section 8-195 was not erroneous. Elm Creek State Bank v. Department of Banking, 191 Neb. 584, 216 N.W.2d 883 (1974).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-189 - Banks; attempted prevention of possession by department; penalty.

8-189.
Banks; attempted prevention of possession by department; penalty.
Any officer, director, or employee of a bank who attempts to prevent the department from taking possession of such bank is guilty of a Class I misdemeanor.
Source
Laws 1923, c. 191, § 14, p. 445;
C.S.1929, § 8-184;
Laws 1933, c. 18, § 46, p. 159;
C.S.Supp.,1941, § 8-184;
R.S.1943, § 8-175;
Laws 1963, c. 29, § 89, p. 169;
Laws 1977, LB 40, § 52;
Laws 2017, LB140, § 86.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-190 - Banks; possession by department; refusal to deliver; possession by banks; application for court order.

8-190.
Banks; possession by department; refusal to deliver; possession by banks; application for court order.
Whenever any bank refuses or neglects to deliver possession of its affairs, assets, or property of whatever nature to the department or to any person ordered or appointed to take charge of such bank according to the Nebraska Banking Act, the director shall make an application to the district court of the county in which the main office of such bank is located or to any judge of such court for an order placing the department or such person in charge thereof and of its affairs and property. If the judge of the district court having jurisdiction is absent from the district at the time such application is to be made, any judge of the Court of Appeals or Supreme Court may grant such order, but the petition and order of possession shall be immediately transmitted to the clerk of the district court of the county in which the main office of such bank is located.
Source
Laws 1909, c. 10, § 56, p. 94;
R.S.1913, § 336;
Laws 1919, c. 190, tit. V, art. XVI, § 57, p. 709;
C.S.1922, § 8037;
C.S.1929, § 8-185;
Laws 1933, c. 18, § 47, p. 159;
C.S.Supp.,1941, § 8-185;
R.S.1943, § 8-176;
Laws 1963, c. 29, § 90, p. 170;
Laws 1987, LB 2, § 12;
Laws 1991, LB 732, § 12;
Laws 1998, LB 1321, § 17;
Laws 2017, LB140, § 87.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-191 - Banks; possession by department; notice to banks and trust companies; notice or knowledge of possession forestalls liens.

8-191.
Banks; possession by department; notice to banks and trust companies; notice or knowledge of possession forestalls liens.
Upon taking possession of the property and business of any bank, the department shall immediately give notice of such fact by letter or electronic mail to all banks or trust companies holding or in possession of any assets of such bank, so far as known by the department. No bank or trust company so notified or knowing of such possession by the department shall have a lien or charge for any payment, advance, or clearance thereafter made, or liability thereafter incurred, against any of the assets of the bank of whose property and business the department shall have taken possession unless the bank be continued as a going concern.
Source
Laws 1923, c. 191, § 16, p. 445;
C.S.1929, § 8-187;
Laws 1933, c. 18, § 49, p. 160;
C.S.Supp.,1941, § 8-187;
R.S.1943, § 8-177;
Laws 1963, c. 29, § 91, p. 170;
Laws 2017, LB140, § 88.
Annotations
Act of Department of Banking in taking over insolvent bank is not subject to collateral attack. Torgeson v. Department of Trade and Commerce, 127 Neb. 38, 254 N.W. 735 (1934).
Notice of possession of bank by Department of Banking forestalls all future liens, unless the bank be continued as a going concern. Luikart v. Hunt, 124 Neb. 642, 247 N.W. 790 (1933).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-192 - Banks; possession by department; inventory of assets and liabilities; filing.

8-192.
Banks; possession by department; inventory of assets and liabilities; filing.
Upon taking charge of any bank, the director shall cause to be made an inventory in triplicate of all the property, assets, and liabilities of the bank so far as the property, assets, and liabilities of the bank can be ascertained. One copy of the inventory shall be filed with the director, one copy of the inventory retained in the bank, and, after the declaration of insolvency of the bank as provided in section 8-194, one copy of the inventory shall be filed with the clerk of the district court of the county in which the main office of the bank is located.
Source
Laws 1929, c. 38, § 21, p. 167;
C.S.1929, § 8-188;
Laws 1933, c. 18, § 50, p. 161;
C.S.Supp.,1941, § 8-188;
R.S.1943, § 8-178;
Laws 1963, c. 29, § 92, p. 170;
Laws 2017, LB140, § 89.
Annotations
Under facts in this case, denial of motion for continuance under section 8-195 was not erroneous. Elm Creek State Bank v. Department of Banking, 191 Neb. 584, 216 N.W.2d 883 (1974).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-193 - Banks; redelivery of possession; bond; departmental supervision; repossession by department.

8-193.
Banks; redelivery of possession; bond; departmental supervision; repossession by department.
Whenever the officers, directors, stockholders, or owners of any insolvent bank give good and sufficient bond running to the department with an incorporated surety company authorized by the laws of this state to transact such business, conditioned upon the full settlement of all the liabilities of such bank by such officers, directors, stockholders, or owners within a stated time, and the bond is approved by the director, then the department shall turn over all the assets of such bank to the officers, directors, stockholders, or owners of the bank furnishing the bond, reserving the same right to require report of the condition and to examine into the affairs of the bank as existed in the department previous to its closing. If, upon such examination, it is found by the department that the officers, directors, stockholders, or owners are not closing up the affairs of the bank in such manner as to discharge its liabilities and to close up its affairs in a manner satisfactory to the department within a reasonable time, the department shall take immediate possession of the bank for liquidation under the Nebraska Banking Act.
Source
Laws 1919, c. 190, tit. V, art. XVI, § 8, p. 688;
C.S.1922, § 7989;
Laws 1923, c. 191, § 13, p. 444;
C.S.1929, § 8-189;
Laws 1933, c. 18, § 51, p. 161;
C.S.Supp.,1941, § 8-189;
R.S.1943, § 8-179;
Laws 1963, c. 29, § 93, p. 171;
Laws 1987, LB 2, § 13;
Laws 1998, LB 1321, § 18;
Laws 2017, LB140, § 90.
Annotations
Agreement between stockholders of bank and its depositors and creditors under which bank officers were to liquidate bank does not contravene statute where Department of Banking accepted bank officers' joint and several liability in lieu of surety bond. Department of Banking v. Walker, 131 Neb. 732, 269 N.W. 907 (1936).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-195 - Insolvent banks; possession by department; petition to enjoin; show cause order; findings by district court; disposition of case.

8-195.
Insolvent banks; possession by department; petition to enjoin; show cause order; findings by district court; disposition of case.
Whenever any bank of whose property and business the department has taken possession or whose insolvency has been declared under section 8-194 deems itself aggrieved by such actions, it may, at any time not later than ten days after such declaration of insolvency has been filed with the clerk of the district court of the county in which the main office of the bank is located, petition the district court to enjoin further proceedings. The court, after citing the Director of Banking and Finance to show cause why further proceedings should not be enjoined, hearing the allegations and proofs of the parties, and determining the facts, may, upon proof by the bank, its officers, or its directors that it is solvent, that the business of the bank has been and is being conducted as provided by law, that it is not endangering the interests of its depositors and other creditors, and that the Director of Banking and Finance has acted arbitrarily and abused his or her discretion either by taking possession of the bank or by finding and declaring the bank to be insolvent and ordering its liquidation, set aside such declaration of insolvency and enjoin the director from proceeding further, and direct him or her to surrender the business and property to the bank. On proof that the bank is insolvent and that its stockholders or owners have failed to restore solvency as provided by law, or that the bank is being operated in violation of law, and that the director has acted within his or her powers, the petition shall be dismissed by the court.
Source
Laws 1929, c. 38, § 10, p. 162;
C.S.1929, § 8-190;
Laws 1933, c. 18, § 53, p. 162;
Laws 1935, c. 16, § 1, p. 89;
C.S.Supp.,1941, § 8-190;
R.S.1943, § 8-181;
Laws 1963, c. 29, § 95, p. 172;
Laws 2017, LB140, § 92.
Annotations
In a proceeding by a state bank hereunder, the bank has burden to establish that a declaration of insolvency under section 8-194 was erroneous. Elm Creek State Bank v. Department of Banking, 191 Neb. 584, 216 N.W.2d 883 (1974).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-196 - Insolvent banks; liquidation; injunction; appeal; bond.

8-196.
Insolvent banks; liquidation; injunction; appeal; bond.
An appeal under section 8-195 shall operate as a stay of judgment of the district court, and no bond need be given if the appeal is taken by the director. If the appeal is taken by the bank, a bond shall be given as required by law for an appeal in civil cases.
Source
Laws 1933, c. 18, § 53, p. 162;
Laws 1935, c. 16, § 1, p. 89;
C.S.Supp.,1941, § 8-190;
R.S.1943, § 8-182;
Laws 1963, c. 29, § 96, p. 172;
Laws 1991, LB 732, § 13;
Laws 2017, LB140, § 93.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-198 - Financial institutions; designation of receiver and liquidating agent; department; powers.

8-198.
Financial institutions; designation of receiver and liquidating agent; department; powers.
The department may be designated the receiver and liquidating agent for any financial institution chartered by the department and, subject to the district court's supervision and control, may proceed to liquidate such financial institution or reorganize it in accordance with the Nebraska Banking Act.
Source
Laws 1929, c. 38, § 11, p. 163;
C.S.1929, § 8-192;
Laws 1933, c. 18, § 52, p. 162;
Laws 1941, c. 9, § 1, p. 79;
Laws 1941, c. 180, § 1, p. 700;
C.S.Supp.,1941, § 8-192;
R.S.1943, § 8-184;
Laws 1963, c. 29, § 98, p. 174;
Laws 1985, LB 653, § 7;
Laws 1998, LB 1321, § 20;
Laws 2017, LB140, § 95.
Annotations
This section does not constitute an unlawful delegation of judicial power to an executive department of government. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
Under 1929 act, Department of Banking was ineligible to be appointed judicial receiver as it is not a qualified legal entity. State ex rel. Sorensen v. Hoskins State Bank, 132 Neb. 878, 273 N.W. 834 (1937).
Under 1929 act, the appointment of a receiver was a judicial act to be performed by the courts. State ex rel. Sorensen v. Nebraska State Bank, 124 Neb. 449, 247 N.W. 31 (1933).
Under 1929 act, this section in a judicial proceeding amounted to no more than a legislative recommendation to the judiciary to appoint secretary as receiver. State ex rel. Sorensen v. State Bank of Minatare, 123 Neb. 109, 242 N.W. 278 (1932).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-199 - Financial institutions; department as receiver; powers; no compensation to director.

8-199.
Financial institutions; department as receiver; powers; no compensation to director.
Whenever the department has been designated receiver for a financial institution chartered by the department, the department shall have all the powers and privileges provided by the laws of this state with respect to any other receiver and such incidental powers as shall be necessary to carry out an orderly and efficient liquidation or reorganization of any such financial institution for which the department may have become receiver, either by operation of law or by judicial appointment. Acting by and through the director, the department may in its own name as such receiver enforce on behalf of such financial institution or its creditors, shareholders, or owners, by actions at law or in equity, all debts or other obligations of whatever kind or nature due to such financial institution or the creditors or shareholders thereof. In like manner, the department may make, execute, and deliver any and all deeds, assignments, and other instruments necessary and proper to effectuate any sale of real or personal property, or the settlement of any obligations belonging or due to such financial institution for which the department may have become receiver, or its creditors, shareholders, or owners, when such sale or settlement is approved by the district court of the county in which the main office of such financial institution is located. The director shall receive no fees, salary, or other compensation for his or her services in connection with the liquidation or reorganization of such financial institutions other than his or her salary.
Source
Laws 1941, c. 9, § 1, p. 79;
Laws 1941, c. 180, § 1, p. 700;
C.S.Supp.,1941, § 8-192;
R.S.1943, § 8-185;
Laws 1963, c. 29, § 99, p. 174;
Laws 1985, LB 653, § 8;
Laws 2017, LB140, § 96.
Annotations
In the absence of an allegation of an individual harm upon which a claimant can directly bring suit, claims are derivative and are properly pursued by the receiver under section 8-199 (Reissue 1983). Weimer v. Amen, 235 Neb. 287, 455 N.W.2d 145 (1990).
Section 8-199 (Reissue 1983) does not unconstitutionally deny access to the courts, violate due process, nor take property for a public purpose without just compensation. Weimer v. Amen, 235 Neb. 287, 455 N.W.2d 145 (1990).
Section 8-199 (Reissue 1983) granted the receiver broad authority to enforce all debts or other obligations of whatever kind or nature due to the creditors of the failed institution which arose by virtue of the institution's insolvency. Weimer v. Amen, 235 Neb. 287, 455 N.W.2d 145 (1990).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,100 - Insolvent banks; liquidation; special deputies, assistants, counsel; appointment; compensation; discharge.

8-1,100.
Insolvent banks; liquidation; special deputies, assistants, counsel; appointment; compensation; discharge.
The director may, under his or her hand and official seal, appoint such special deputies or assistants as he or she may find necessary for the efficient and economical liquidation of insolvent banks, with powers specified in the certificate of appointment, to assist him or her in the liquidation. The certificate shall be filed with the director and a certified copy with the clerk of the district court of the county in which the main office of such bank is located. He or she may also employ such counsel and expert assistance as may be necessary to perform the work of liquidation. He or she shall, subject to the approval of the district court of the county in which the main office of the insolvent bank is located, fix the compensation for the services rendered by such special deputies, assistants, and counsel, which shall be taxed as costs of the liquidation. He or she may discharge such special deputies, assistants, or counsel at any time or may assign them to one or more liquidations or transfer them from one liquidation to another.
Source
Laws 1929, c. 38, § 13, p. 163;
C.S.1929, § 8-194;
Laws 1933, c. 18, § 56, p. 164;
Laws 1933, c. 96, § 2, p. 382;
C.S.Supp.,1941, § 8-194;
R.S.1943, § 8-186;
Laws 1963, c. 29, § 100, p. 175;
Laws 2017, LB140, § 97.
Annotations
Under this section, the Director of Banking is given power to appoint deputies and assistants, with powers specified in a certificate of appointment, to assist him in the liquidation. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
This section referred to in stating contentions of parties that former method of liquidating insolvent banks had been changed by 1929 act. State ex rel. Sorensen v. State Bank of Minatare, 123 Neb. 109, 242 N.W. 278 (1932).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,101 - Insolvent banks; liquidation; special deputies, assistants; bond or insurance; conditions.

8-1,101.
Insolvent banks; liquidation; special deputies, assistants; bond or insurance; conditions.
Upon the declaration of insolvency, the director shall require bonds or equivalent commercial insurance policies from the special deputies or assistants in sums and with such condition as the director shall specify, to be approved by the district court. The costs of any such bond or policy shall be taxed as costs in the liquidation. Such bond or policy shall be conditioned for the faithful performance of duty, and include indemnity to the department as receiver and liquidating agent.
Source
Laws 1929, c. 38, § 14, p. 164;
C.S.1929, § 8-195;
Laws 1933, c. 18, § 60, p. 165;
C.S.Supp.,1941, § 8-195;
R.S.1943, § 8-187;
Laws 1963, c. 29, § 101, p. 175;
Laws 2004, LB 884, § 6;
Laws 2017, LB140, § 98.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,102 - Insolvent banks; department as receiver and liquidating agent; liens dissolved; assets; transfers to defraud creditors; preferences.

8-1,102.
Insolvent banks; department as receiver and liquidating agent; liens dissolved; assets; transfers to defraud creditors; preferences.
Upon the declaration of insolvency of a bank by the director, the department shall become the receiver and liquidating agent to wind up the business of that bank, and the department shall be vested with the title to all of the assets of such bank wherever the assets may be situated and whatever kind and character such assets may be, as of the date of the filing of the declaration of insolvency with the clerk of the district court of the county in which the main office of such bank is located. All levies, judgment liens, attachments, or other liens obtained through legal proceedings against such bank or its property acquired within sixty days next preceding the filing of the declaration of insolvency shall be void, and the property affected by the levy, judgment lien, attachment, or other lien obtained through legal proceedings, shall be wholly discharged and released therefrom. If at any time within sixty days prior to the taking over by the director of a bank which is later declared insolvent any transfers of the assets of such bank are made to prevent liquidation and distribution of such assets to the bank's creditors as provided in the Nebraska Banking Act or if any transfers are made so as to create a preference of one creditor over another, such transfers shall be void and the director shall be entitled to recover such assets for the benefit of the trust.
Source
Laws 1933, c. 18, § 54, p. 163;
C.S.Supp.,1941, § 8-1,127;
R.S.1943, § 8-188;
Laws 1963, c. 29, § 102, p. 176;
Laws 1987, LB 2, § 15;
Laws 1998, LB 1321, § 21;
Laws 2017, LB140, § 99.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,103 - Insolvent banks; liquidation; Director of Banking and Finance; powers.

8-1,103.
Insolvent banks; liquidation; Director of Banking and Finance; powers.
For the purpose of executing and performing any of the powers and duties hereby conferred upon him or her, the director may, in the name of the department or the insolvent bank or in his or her own name as director, prosecute and defend any and all actions and other legal proceedings and may, in the name of the department or the insolvent bank or in his or her own name as director, execute, acknowledge, and deliver any and all deeds, assignments, releases, and other instruments necessary and proper to effectuate any sale of real or personal property or sale or compromise authorized by order of the court as provided in the Nebraska Banking Act. Any deed or other instrument executed pursuant to such authority shall be valid and effectual for all purposes as though the same had been executed by the officers of the insolvent bank by authority of its board of directors.
Source
Laws 1933, c. 18, § 58, p. 165;
C.S.Supp.,1941, § 8-1,129;
R.S.1943, § 8-189;
Laws 1963, c. 29, § 103, p. 176;
Laws 1987, LB 2, § 16;
Laws 1998, LB 1321, § 22;
Laws 2017, LB140, § 100.
Annotations
Department of Banking is a legal entity entitled to sue and defend under this section. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,104 - Insolvent banks; liquidation; director; collection of debts; sale or compromise of certain debts; procedure; deposit or investment of funds.

8-1,104.
Insolvent banks; liquidation; director; collection of debts; sale or compromise of certain debts; procedure; deposit or investment of funds.
Upon taking possession of the property and business of any bank, the director shall collect all money due to such bank and do such other acts as are necessary to conserve its assets and business and, on declaration of insolvency, he or she shall proceed to liquidate the affairs of the bank under the Nebraska Banking Act. He or she shall collect all debts due to and belonging to the bank. If he or she desires to sell or compromise any or all bad or doubtful debts or any or all of the real and personal property of such bank, he or she shall apply to the district court of the county in which the main office of the bank is located for an order permitting such sale or compromise on such terms and in such manner as the court may direct. All money so collected by the director may be, from time to time, deposited in one or more state banks or national banks. No deposits of such money shall be made unless a pledge of assets, a guaranty bond, or both are given as security for such deposit. All depository banks are authorized to give such security. The director may invest a portion or all of such money in short-time interest-bearing securities of the federal government.
Source
Laws 1933, c. 18, § 67, p. 169;
C.S.Supp.,1941, § 8-1,131;
R.S.1943, § 8-190;
Laws 1963, c. 29, § 104, p. 177;
Laws 1987, LB 2, § 17;
Laws 1998, LB 1321, § 23;
Laws 2017, LB140, § 101.
Annotations
This section does not constitute an unlawful delegation of judicial power to an executive department of government. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,105 - Insolvent banks; reorganization or liquidation proceedings; district judge; jurisdiction.

8-1,105.
Insolvent banks; reorganization or liquidation proceedings; district judge; jurisdiction.
In any proceeding in connection with the insolvency, liquidation, or reorganization of a bank of which a district court has jurisdiction, a judge of the district court shall exercise such jurisdiction in any county in the judicial district for which he or she was appointed to perform any official act in the manner and with the same effect as he or she might exercise in the county in which the matter arose, or to which it may have been transferred, and he or she may perform any such act in chambers with the same effect as in open court.
Source
Laws 1925, c. 30, § 16, p. 131;
C.S.1929, § 8-191;
Laws 1933, c. 18, § 55, p. 163;
C.S.Supp.,1941, § 8-191;
R.S.1943, § 8-191;
Laws 1963, c. 29, § 105, p. 178;
Laws 2017, LB140, § 102.
Annotations
Powers of district judge may be exercised at chambers. Mueller v. Keeley, 163 Neb. 613, 80 N.W.2d 707 (1957).
Under this section, jurisdiction is conferred upon a judge of the district court to act in chambers in connection with the insolvency, liquidation, or reorganization of a bank with the same effect as in open court. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
Appointment of receiver and judicial determination of deficiency of assets does not vest court appointing receiver with exclusive jurisdiction to try an equity suit for purpose of determining liability of stockholders. Parker v. Luehrmann, 126 Neb. 1, 252 N.W. 402 (1934).
Section sustained as constitutional, and suit for accounting brought by depositor against receiver of bank and state banking officials is a proceeding which may be tried in chambers under this section. Morrill County v. Bliss, 125 Neb. 97, 249 N.W. 98 (1933).
This section referred to in stating contentions of parties that former method of liquidating insolvent banks had been changed by 1929 act. State ex rel. Sorensen v. State Bank of Minatare, 123 Neb. 109, 242 N.W. 278 (1932).
On order to show cause, filed by bank receiver in district court of county where receivership proceedings are pending, court has jurisdiction, at chambers in another county, to adjudicate whether possession of land should be surrendered to receiver. State ex rel. Spillman v. Neligh State Bank, 116 Neb. 858, 219 N.W. 392 (1928).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,106 - Insolvent banks; claims; filing; time limit.

8-1,106.
Insolvent banks; claims; filing; time limit.
The director, within twenty days after the declaration of insolvency of a bank, shall file with the clerk of the district court of the county in which the main office of such bank is located, a list setting forth the name and address of each of the creditors of such bank as shown by the books thereof or who are known by the director to be creditors, and within thirty days after filing the list of creditors, he or she shall also file an order fixing the time and place for filing claims against such bank. The time fixed for filing claims shall not be more than sixty days nor less than thirty days from the date of the filing of the order, and within seven days after the filing of such order, the director shall mail to each known creditor of such bank a copy of the order and a blank form for proof of claim. The director shall also post a copy of the order on the door of the bank, and within two weeks from the date of the order he or she shall cause notice to be given by publication, in such newspapers as he or she may direct, once each week for two successive weeks, calling on all persons who may have claims against the bank to present them to the director within the time and the place provided for in the order and to make proof thereof. Such claims shall be sworn to by the creditor or his or her representative. Any claim, other than claims for deposits and exchange, not presented and filed within the time fixed by such order shall be forever barred. Claims for deposits or exchange as shown by the books of the bank presented after the expiration of the time fixed in the order for filing claims may be allowed by the director upon a showing being made by the creditor, within six months from the date of the expiration of the time for filing claims as fixed by the order, that he or she did not have knowledge of the closing of the bank and did not receive notice within time to permit the filing of his or her claim before the time fixed for filing claims had expired.
Source
Laws 1923, c. 191, § 21, p. 448;
C.S.1929, § 8-198;
Laws 1933, c. 18, § 62, p. 167;
C.S.Supp.,1941, § 8-198;
R.S.1943, § 8-192;
Laws 1963, c. 29, § 106, p. 178;
Laws 2017, LB140, § 103.
Annotations
Section applies not only to depositor's claims but to all claims against assets in hands of receiver, and allowance of claim constitutes judgment. State ex rel. Spillman v. Platte Valley State Bank, 128 Neb. 562, 259 N.W. 643 (1935).
Special time limit for filing claims against insolvent state bank will be applied to bar claims only when the record affirmatively shows compliance with statutory procedure and conditions. State ex rel. Spillman v. State Bank of Papillion, 119 Neb. 525, 232 N.W. 585 (1930).
Duty of receiver to pay taxes before depositors whether claim for taxes filed or not, notwithstanding order of court barring claims not filed. State ex rel. Spillman v. Ord State Bank, 117 Neb. 189, 220 N.W. 265 (1928).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,107 - Insolvent banks; claims; listing and classification; notice to claimant; filing of objection; powers and duties of director.

8-1,107.
Insolvent banks; claims; listing and classification; notice to claimant; filing of objection; powers and duties of director.
(1) Upon the expiration of the time fixed for presentation of claims, the director shall thoroughly investigate all claims and file with the clerk of the district court of the county in which the main office of the insolvent bank is located a complete list of all claims against which he or she knows of no defense and which, in his or her judgment, are valid, designating their priority of payment, together with a list of the claims which, in his or her judgment, are invalid. He or she shall also file an order allowing or rejecting such claims as classified.
(2) When the director reclassifies or rejects a claim, which rejection shall be made when he or she doubts the legality of a claim, he or she shall serve written notice of such reclassification or rejection upon the claimant by either registered or certified mail and file, with the clerk of the district court of the county in which the main office of the bank is located, an affidavit of the service of such notice, which affidavit shall be prima facie evidence of such service. Such notice shall state the time and place for the filing by claimant of his or her objections to the classification, reclassification, or rejection of his or her claim.
Source
Laws 1923, c. 191, § 22, p. 449;
C.S.1929, § 8-199;
Laws 1930, Spec. Sess., c. 6, § 9, p. 30;
Laws 1933, c. 18, § 63, p. 168;
C.S.Supp.,1941, § 8-199;
R.S.1943, § 8-193;
Laws 1957, c. 242, § 4, p. 818;
R.S.1943, § 8-193;
Laws 1963, c. 29, § 107, p. 179;
Laws 2017, LB140, § 104.
Annotations
This section does not constitute an unlawful delegation of judicial power to an executive department of government. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,108 - Insolvent banks; claims; objections to classification; hearing.

8-1,108.
Insolvent banks; claims; objections to classification; hearing.
Any person objecting to the classification of his or her claim and the order based thereon must, within thirty days of the filing of the classification and order with the clerk of the district court, begin an action in that court asking to reclassify his or her claim and to set aside the order of the director. Notice of this action shall be given by the service of a copy of the petition therein upon the director, who shall, within thirty days of such service, file his or her answer or other pleading. The court shall then set the matter for hearing at the earliest convenient date and shall try and determine the issues according to the usual procedure in matters of equity.
Source
Laws 1923, c. 191, § 23, p. 449;
C.S.1929, § 8-1,100;
Laws 1930, Spec. Sess., c. 6, § 10, p. 31;
Laws 1933, c. 18, § 64, p. 168;
C.S.Supp.,1941, § 8-1,100;
R.S.1943, § 8-194;
Laws 1963, c. 29, § 108, p. 179;
Laws 2017, LB140, § 105.
Annotations
When payment of a dividend is deferred by reason of an unsuccessful contest of an alleged setoff, the creditor so delayed should be allowed interest on the dividend to put that creditor on an equality with the other creditors in his class. Colburn v. Ley, 191 Neb. 427, 215 N.W.2d 869 (1974).
Where any controversy over allowance of claims arises under this section, judicial power is invoked. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
An order fixing a time for filing of petitions of intervention by claimants under this section is not a final judgment, and may be modified at a subsequent term without compliance with the general statute authorizing modification of final judgments at subsequent terms. State ex rel. Sorensen v. South Omaha State Bank, 135 Neb. 478, 282 N.W. 382 (1938).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,109 - Insolvent banks; claims; certificate of indebtedness; assignment; payments endorsed on certificate.

8-1,109.
Insolvent banks; claims; certificate of indebtedness; assignment; payments endorsed on certificate.
Upon the allowance of a claim against an insolvent bank, the director shall, upon request of the claimant, issue and deliver to the claimant a certificate of indebtedness showing the amount of the claim, the date of the allowance thereof, and whether such claim is one having priority of payment or is a general claim. Any assignment of a claim or certificate of indebtedness shall be filed with the director and shall not be binding until so filed. Upon payment of any distribution on a claim, evidenced by a certificate of indebtedness, such certificate shall be presented and an endorsement of such payment shall be made on the certificate.
Source
Laws 1929, c. 38, § 22, p. 167;
C.S.1929, § 8-1,101;
Laws 1933, c. 18, § 65, p. 169;
C.S.Supp.,1941, § 8-1,101;
R.S.1943, § 8-195;
Laws 1963, c. 29, § 109, p. 180;
Laws 2017, LB140, § 106.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,111 - Insolvent banks; priority; not affected by federal deposit insurance.

8-1,111.
Insolvent banks; priority; not affected by federal deposit insurance.
When a bank whose deposits are insured by the Federal Deposit Insurance Corporation becomes insolvent, neither the deposits in the bank nor the exchange of such bank shall be deemed to be otherwise secured by reason of such insurance for purposes of section 8-1,110.
Source
Laws 1935, c. 16, § 2, p. 91;
C.S.Supp.,1941, § 8-1,102;
R.S.1943, § 8-197;
Laws 1963, c. 29, § 111, p. 181;
Laws 2017, LB140, § 108.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,112 - Insolvent banks; director; payment of dividends.

8-1,112.
Insolvent banks; director; payment of dividends.
At any time after the expiration of the date fixed for the presentation of claims, the district court may by order, upon the application of the director, authorize the director to declare out of the funds remaining in his or her hands, after the payment of expenses, one or more distributions, and at the earliest possible date the director shall declare a final distribution as may be directed by the district court of the county in which the main office of such bank is located.
Source
Laws 1933, c. 18, § 69, p. 170;
C.S.Supp.,1941, § 8-1,133;
R.S.1943, § 8-198;
Laws 1963, c. 29, § 112, p. 181;
Laws 2017, LB140, § 109.
Annotations
This section does not constitute an unlawful delegation of judicial power to an executive department of government. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,113 - Insolvent banks; liquidation expenses; allocation; certification.

8-1,113.
Insolvent banks; liquidation expenses; allocation; certification.
The director shall from time to time allocate to the various banks in liquidation the expenses of the department by reason of such liquidation, other than the compensation and expense of the special deputy or assistant in charge and the fees for legal services directly incident to the bank in liquidation. The director shall certify to the various district courts of the counties in which the banks in process of liquidation are located the amount of the expenses allocated, which shall be taxed and paid as costs in the liquidation.
Source
Laws 1933, c. 18, § 57, p. 164;
C.S.Supp.,1941, § 8-1,128;
R.S.1943, § 8-199;
Laws 1963, c. 29, § 113, p. 181;
Laws 2017, LB140, § 110.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,115 - Insolvent banks; liquidation; reports to district court; dissolution of bank; cancellation of charter.

8-1,115.
Insolvent banks; liquidation; reports to district court; dissolution of bank; cancellation of charter.
The director shall from time to time make and file with the clerk of the district court of the county in which the main office of the insolvent bank is located a report of his or her acts of liquidation of each insolvent bank. He or she shall, upon the completion of the liquidation, file a final report, notice of which shall be given as the court may direct, and on hearing thereon and approval thereof by the court such liquidation shall be declared closed and the corporation dissolved. The director shall then cancel the charter issued to such bank pursuant to section 8-122.
Source
Laws 1933, c. 18, § 68, p. 170;
C.S.Supp.,1941, § 8-1,132;
R.S.1943, § 8-1,101;
Laws 1963, c. 29, § 115, p. 182;
Laws 2017, LB140, § 111.
Annotations
This section does not constitute an unlawful delegation of judicial power to an executive department of government. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1,116 - Insolvent banks; stockholders; restoration of solvency; conditions.

8-1,116.
Insolvent banks; stockholders; restoration of solvency; conditions.
After the department has taken possession of any bank under the Nebraska Banking Act, the stockholders of the bank may repair its credit, restore or substitute its reserves, and otherwise place it in safe condition. Such bank shall not be permitted to reopen its business until the director, after careful investigation of its affairs, is of the opinion that its stockholders have complied with the law, that the bank's credit and funds are in all respects repaired, that its reserves are restored or are sufficiently substituted, and that it should be permitted again to reopen for business, at which time the director may issue written permission for resumption of business under its charter.
Source
Laws 1909, c. 10, § 50, p. 91;
R.S.1913, § 330;
Laws 1919, c. 190, tit. V, art. XVI, § 51, p. 706;
Laws 1921, c. 297, § 5, p. 951;
C.S.1922, § 8031;
C.S.1929, § 8-197;
Laws 1931, c. 20, § 1, p. 92;
Laws 1933, c. 18, § 61, p. 166;
Laws 1941, c. 14, § 2, p. 93;
C.S.Supp.,1941, § 8-197;
R.S.1943, § 8-1,102;
Laws 1963, c. 29, § 116, p. 182;
Laws 1987, LB 2, § 18;
Laws 1998, LB 1321, § 24;
Laws 2017, LB140, § 112.
Annotations
Under this section, power to assess fully paid-up capital stock of a state bank to recoup losses or to restore depleted capital was committed to the directors of the bank upon authority from the stockholders, and fund voluntarily raised by stockholders and used by a holding company in eliminating bad paper and maintaining reserve is not an assessment. State ex rel. Spillman v. Citizens State Bank of Chadron, 115 Neb. 776, 214 N.W. 933 (1927).
Directors are not empowered to levy assessment where bank not taken over by Department of Banking, and stockholders have not authorized same. McMillan v. Chadron State Bank, 115 Neb. 767, 214 N.W. 931 (1927).
Directors have power to levy assessment only where stockholders have exercised their option to repair capital, restore reserves, and continue business, rather than to liquidate. Citizens State Bank of Stratton v. Strayer, 114 Neb. 567, 208 N.W. 662 (1926).