reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1727 - Violations of code; civil remedies.

8-1727.
Violations of code; civil remedies.
(1) Upon a proper showing by the director that a person has violated or is about to violate any provision of the Commodity Code or any rule, regulation, or order of the director, the court may grant appropriate legal or equitable remedies.
(2) Upon a showing of a violation of the Commodity Code or a rule, regulation, or order of the director, the court, in addition to traditional legal and equitable remedies, including temporary restraining orders, permanent or temporary prohibitory or mandatory injunctions, and writs of prohibition or mandamus, may grant the following special remedies:
(a) Imposition of a civil penalty in an amount which may not exceed twenty-five thousand dollars for any single violation or one hundred thousand dollars for multiple violations in a single proceeding or a series of related proceedings;
(b) Disgorgement;
(c) Declaratory judgment;
(d) Restitution to investors wishing restitution; and
(e) Appointment of a receiver or conservator for the defendant or the defendant's assets.
(3) Appropriate remedies when the defendant is shown only about to violate the Commodity Code or a rule, regulation, or order of the director shall be limited to:
(a) A temporary restraining order;
(b) A temporary or permanent injunction;
(c) A writ of prohibition or mandamus; or
(d) An order appointing a receiver or conservator for the defendant or the defendant's assets.
(4) The court shall not require the director to post a bond in any official action under the Commodity Code.
Source
Laws 1987, LB 575, § 27.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1728 - Violations of commodity code of foreign state; remedies.

8-1728.
Violations of commodity code of foreign state; remedies.
(1) Upon a proper showing by the director or securities or commodity agency of a foreign state that a person other than a government or governmental agency or instrumentality has violated or is about to violate any provision of the commodity code of such state or any rule, regulation, or order of the director or securities or commodity agency of the foreign state, the court may grant appropriate legal and equitable remedies.
(2) Upon a showing of a violation of the securities or commodity act of the foreign state or a rule, regulation, or order of the director or securities or commodity agency of the foreign state, the court, in addition to traditional legal or equitable remedies, including temporary restraining orders, permanent or temporary prohibitory or mandatory injunctions, and writs of prohibition or mandamus, may grant the following special remedies:
(a) Disgorgement; and
(b) Appointment of a receiver, conservator, or ancillary receiver or conservator for the defendant or the defendant's assets located in this state.
(3) Appropriate remedies when the defendant is shown only about to violate the securities or commodity act of the foreign state or a rule, regulation, or order of the director or securities or commodity agency of the foreign state shall be limited to:
(a) A temporary restraining order;
(b) A temporary or permanent injunction;
(c) A writ of prohibition or mandamus; or
(d) An order appointing a receiver, conservator, or ancillary receiver or conservator for the defendant or the defendant's assets located in this state.
Source
Laws 1987, LB 575, § 28.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1729 - Violations of code; criminal penalties; enforcement.

8-1729.
Violations of code; criminal penalties; enforcement.
(1) Any person who willfully violates any provision of the Commodity Code or any rule, regulation, or order of the director under the code shall, upon conviction, be guilty of a Class IV felony.
(2) Any person convicted of violating a rule, regulation, or order under the code may be fined but may not be imprisoned if the person proves he or she had no knowledge of the rule, regulation, or order.
(3) The director may refer such evidence as is available concerning violations of the code or any rule, regulation, or order of the director to the Attorney General or county attorney who may, with or without reference from the director, initiate criminal proceedings pursuant to the code.
Source
Laws 1987, LB 575, § 29.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1730 - Code; administration; use of information for personal gain or benefit prohibited; public information; confidentiality; privilege.

8-1730.
Code; administration; use of information for personal gain or benefit prohibited; public information; confidentiality; privilege.
(1) The Commodity Code shall be administered by the Department of Banking and Finance. Neither the director nor any employees of the director shall use any information which is filed with or obtained by the director which is not public information for personal gain or benefit, nor shall the director or any employees of the director conduct any securities or commodity dealings whatsoever based upon any such information, even though public, if there has not been a sufficient period of time for the securities or commodity markets to assimilate such information.
(2) Except as provided in subsection (3) of this section, all information collected, assembled, or maintained by the director shall be public information and shall be available for the examination of the public as provided by sections 84-712 to 84-712.09.
(3) The following information shall be deemed to be confidential:
(a) Information obtained in investigations pursuant to section 8-1725;
(b) Information made confidential by sections 84-712 to 84-712.09; or
(c) Information obtained from federal agencies which may not be disclosed under federal law.
(4) The director may disclose any information made confidential under subdivision (3)(a) of this section to persons identified in section 8-1731.
(5) No provision of the Commodity Code shall either create or derogate any privilege which exists at common law, by statute, or otherwise, when any documentary or other evidence is sought under subpoena directed to the director or any employee of the director.
Source
Laws 1987, LB 575, § 30.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1731 - Uniform application and interpretation of code; securities regulation and enforcement; governmental cooperation; authorized.

8-1731.
Uniform application and interpretation of code; securities regulation and enforcement; governmental cooperation; authorized.
(1) To encourage uniform application and interpretation of the Commodity Code and securities regulation and enforcement in general, the director and the employees of the director may cooperate, including bearing the expense of the cooperation, with the securities agencies or director of another jurisdiction, Canadian province, or territory or such other agencies administering its commodity code, the Commodity Futures Trading Commission, the Securities and Exchange Commission, any self-regulatory organization established under the Commodity Exchange Act or the Securities Exchange Act of 1934, any national or international organization of commodities or securities officials or agencies, and any governmental law enforcement agency.
(2) The cooperation authorized by subsection (1) of this section may include, but need not be limited to, the following:
(a) Making joint examinations or investigations;
(b) Holding joint administrative hearings;
(c) Filing and prosecuting joint litigation;
(d) Sharing and exchanging personnel;
(e) Sharing and exchanging information and documents;
(f) Formulating and adopting mutual regulations, statements of policy, guidelines, proposed statutory changes, and releases; and
(g) Issuing and enforcing subpoenas at the request of the agency administering such code in another jurisdiction, the securities agency of another jurisdiction, the Commodity Futures Trading Commission, or the Securities and Exchange Commission if the information sought would also be subject to lawful subpoena for conduct occurring in this state.
Source
Laws 1987, LB 575, § 31;
Laws 2003, LB 217, § 29.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1732 - Director; adopt rules and regulations; standards.

8-1732.
Director; adopt rules and regulations; standards.
(1) In addition to specific authority granted elsewhere in the Commodity Code, the director may adopt and promulgate rules, regulations, and orders as are necessary to carry out the code. Such rules and regulations shall include, but not be limited to, rules and regulations defining any terms, whether or not used in the code, insofar as the definitions are not inconsistent with the code. For the purpose of rules and regulations, the director may classify commodities and commodity contracts, persons, and matters within the director's jurisdiction.
(2) Unless specifically provided in the Commodity Code, no rule, regulation, or order may be adopted and promulgated unless the director finds that the action is:
(a) Necessary or appropriate in the public interest or for the protection of investors; and
(b) Consistent with the purposes fairly intended by the policy and provisions of the code.
(3) All rules and regulations of the director shall be published.
(4) No provision of the Commodity Code imposing any liability shall apply to any act done or omitted in good faith in conformity with a rule, regulation, or order adopted and promulgated by the director, notwithstanding that the rule, regulation, or order may later be amended, rescinded, or determined by judicial or other authority to be invalid for any reason.
Source
Laws 1987, LB 575, § 32.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1733 - Service of process.

8-1733.
Service of process.
When a person, including a nonresident of this state, engages in conduct prohibited or made actionable by the Commodity Code or any rule, regulation, or order of the director, the engaging in the conduct shall constitute sufficient contact with this state for the exercise of personal jurisdiction over such a person in any action which arises under the Commodity Code. Service may be made by leaving a copy of the process in the office of the director, but it shall not be effective unless (1) the plaintiff, who may be the director in a suit, action, or proceeding instituted by him or her, forthwith sends notice of the service and a copy of the process by registered or certified mail to the defendant or respondent at his or her last address on file with the director and (2) the plaintiff's affidavit of compliance with this section is filed in the case on or before the return day of the process, if any, or within such further time as the court allows.
Source
Laws 1987, LB 575, § 33;
Laws 1989, LB 20, § 1.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1734 - Purchase, sale, or offer within state; laws applicable; exceptions.

8-1734.
Purchase, sale, or offer within state; laws applicable; exceptions.
(1) Sections 8-1717, 8-1720, and 8-1721 shall apply to persons who sell or offer to sell when (a) an offer to sell is made in this state or (b) an offer to buy is made and accepted in this state.
(2) Sections 8-1717, 8-1720, and 8-1721 shall apply to persons who buy or offer to buy when (a) an offer to buy is made in this state or (b) an offer to sell is made and accepted in this state.
(3) For the purpose of this section, an offer to sell or to buy shall be made in this state, whether or not either party is then present in this state, when the offer (a) originates from this state or (b) is directed by the offeror to this state and received at the place to which it is directed or at any post office in this state in the case of a mailed offer.
(4) For the purpose of this section, an offer to buy or to sell shall be accepted in this state when acceptance (a) is communicated to the offeror in this state and (b) has not previously been communicated to the offeror, orally or in writing, outside this state; and acceptance shall be communicated to the offeror in this state, whether or not either party is then present in this state, when the offeree directs it to the offeror in this state, reasonably believing the offeror to be in this state and it is received at the place to which it is directed or at any post office in this state in the case of a mailed acceptance.
(5) An offer to sell or to buy shall not be made in this state when (a) the publisher circulates, or there is circulated on his or her behalf, in this state any bona fide newspaper or other publication of general, regular, and paid circulation which is not published in this state or which is published in this state but has had more than two-thirds of its circulation outside this state during the past twelve months or (b) a radio or television program originating outside this state is received in this state.
Source
Laws 1987, LB 575, § 34.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1735 - Administrative proceeding; notice of intent; summary order; notice; hearing.

8-1735.
Administrative proceeding; notice of intent; summary order; notice; hearing.
(1) The director shall commence an administrative proceeding under the Commodity Code by entering either a notice of intent to do a contemplated act or a summary order. The notice of intent or summary order may be entered without notice, without opportunity for hearing, and need not be supported by findings of fact or conclusions of law, but shall be in writing.
(2) Upon entry of a notice of intent or summary order, the director shall promptly notify all interested parties that the notice or summary order has been entered and the reasons therefor. If the proceeding is pursuant to a notice of intent, the director shall inform all interested parties of the date, time, and place set for the hearing on the notice. If the proceeding is pursuant to a summary order, the director shall inform all interested parties that they have fifteen business days from the entry of the order to file a written request for a hearing on the matter with the director and that the hearing will be scheduled to commence within thirty business days after the receipt of the written request, unless the parties consent to a later date or the hearing officer sets a later date for good cause.
(3) If the proceeding is pursuant to a summary order, the director, whether or not a written request for a hearing is received from any interested party, may set the matter down for hearing on the director's own motion.
(4) If no hearing is requested and none is ordered by the director, the summary order shall automatically become a final order after thirty business days.
(5) If a hearing is requested or ordered, the director, after notice of and opportunity for hearing to all interested persons, may modify or vacate the order or extend it until final determination.
(6) No final order or order after hearing may be returned without (a) appropriate notice to all interested persons, (b) opportunity for hearing by all interested persons, and (c) entry of written findings of fact and conclusions of law.
(7) Every hearing in an administrative proceeding under the Commodity Code shall be public unless the director grants a request joined in by all the respondents that the hearing be conducted privately.
Source
Laws 1987, LB 575, § 35;
Laws 2001, LB 53, § 24.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1736 - Appeal; procedure.

8-1736.
Appeal; procedure.
(1) Any person aggrieved by a final order of the director may obtain a review of the order in the district court of Lancaster County by filing, within sixty days after the entry of the order, a written petition praying that the order be modified or set aside in whole or in part. A copy of the petition for review shall be served upon the director.
(2) Upon the filing of a petition for review, except when the taking of additional evidence is ordered by the court pursuant to subsection (5) or (6) of this section, the court shall have exclusive jurisdiction of the matter, and the director may not modify or set aside the order in whole or in part.
(3) The filing of a petition for review under subsection (1) of this section shall not, unless specifically ordered by the court, operate as a stay of the director's order, and the director may enforce or ask the court to enforce the order pending the outcome of the review proceedings.
(4) Upon receipt of the petition for review, the director shall certify and file in the court a copy of the order and the transcript or record of the evidence upon which it was based. If the order became final by operation of law under subsection (4) of section 8-1735, the director shall certify and file in court the summary order, evidence of its service upon the parties to it, and an affidavit certifying that no hearing has been held and the order became final pursuant to such section.
(5) If either the aggrieved party or the director applies to the court for leave to adduce additional evidence and shows to the satisfaction of the court that there were reasonable grounds for failure to adduce the evidence in the hearing before the director or other good cause, the court may order the additional evidence to be taken by the director under such conditions as the court considers proper.
(6) If new evidence is ordered taken by the court, the director may modify the findings and order by reason of the additional evidence and shall file in the court the additional evidence together with any modified or new findings or order.
(7) The court shall review de novo the petition based upon the original record before the director as amended under subsections (5) and (6) of this section. The findings of the director as to the facts, if supported by competent, material, and substantive evidence, shall be conclusive. Based upon such review, the court may affirm, modify, enforce, or set aside the order, in whole or in part.
(8) The judgment of the court may be appealed to the Court of Appeals.
Source
Laws 1987, LB 575, § 36;
Laws 1988, LB 808, § 1;
Laws 1991, LB 732, § 16;
Laws 1992, LB 360, § 1.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1737 - Exemption; burden of proof.

8-1737.
Exemption; burden of proof.
It shall not be necessary to refute the existence of any of the exemptions of the Commodity Code in any complaint, information, or indictment or any writ or proceeding brought under the code, and the burden of proof of any such exemption shall be upon the party claiming the same.
Source
Laws 1987, LB 575, § 37.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1901 - Terms, defined.

8-1901.
Terms, defined.
For purposes of sections 8-1901 to 8-1903, unless the context otherwise requires:
(1) Department means the Department of Banking and Finance; and
(2) Financial institution means:
(a) A bank, savings bank, building and loan association, savings and loan association, credit union, or trust company, whether chartered by the department, the United States, or a foreign state agency;
(b) A subsidiary of a bank holding company or out-of-state bank holding company; or
(c) A branch of a financial institution described in subdivision (a) or (b) of this subdivision.
Source
Laws 1995, LB 384, § 6;
Laws 2003, LB 131, § 17;
Laws 2007, LB124, § 16;
Laws 2012, LB963, § 13.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-1902 - Name of financial institution; use of similar names unlawful; power of department.

8-1902.
Name of financial institution; use of similar names unlawful; power of department.
It shall be unlawful for two or more financial institutions in the same city, village, or county in this state to have or use the same name or names so nearly alike as to cause confusion in transacting business. In all cases in which a similarity of names now exists, or may hereafter exist, a complaint may be made to the department. If in the judgment of the department a similarity does exist and creates confusion in conducting the business of either or both financial institutions, the department may by order require the financial institution which is junior in time in the use of its name in such city, village, or county to change or modify its name to prevent confusion. The change of name shall be approved by the department.
Source
Laws 1909, c. 10, § 31, p. 80;
R.S.1913, § 310;
Laws 1919, c. 190, tit. V, art. XVI, § 31, p. 697;
C.S.1922, § 8011;
C.S.1929, § 8-148;
Laws 1933, c. 18, § 31, p. 150;
C.S.Supp.,1941, § 8-148;
R.S.1943, § 8-148;
Laws 1963, c. 29, § 23, p. 143;
Laws 1979, LB 220, § 4;
R.S.1943, (1991), § 8-123;
Laws 1995, LB 384, § 7.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2001 - Terms, defined.

8-2001.
Terms, defined.
For purposes of sections 8-2001 to 8-2005, the following definitions are used:
(1) Depository institution means a state-chartered or federally chartered financial institution located in this state that is authorized to maintain deposit accounts;
(2) Compliance review committee means:
(a) An audit, loan review, or compliance committee appointed by the board of directors of a depository institution; or
(b) Any other person to the extent the person acts in an investigatory capacity at the direction of a compliance review committee;
(3) Compliance review documents means written reports prepared for or created by a compliance review committee for the purpose of ascertaining compliance with federal or state statutory or regulatory requirements or for the performance of any function described in subdivisions (1) through (3) of section 8-2002, which is not a policy otherwise in violation of any other state or federal regulatory requirements;
(4) Loan review committee means a person or group of persons who, on behalf of a depository institution, reviews loans held by the depository institution for the purpose of assessing the credit quality of the loans, compliance with the depository institution's loan policies, and compliance with applicable laws and rules and regulations; and
(5) Person means an individual, group of individuals, board, committee, partnership, firm, association, corporation, limited liability company, or other entity.
Source
Laws 1995, LB 626, § 1.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2002 - Sections; applicability.

8-2002.
Sections; applicability.
Sections 8-2001 to 8-2005 apply to a compliance review committee whose functions are to evaluate and seek to improve:
(1) Loan underwriting standards;
(2) Asset quality;
(3) Financial reporting to federal or state regulatory agencies; or
(4) Compliance with federal or state statutory or regulatory requirements.
Source
Laws 1995, LB 626, § 2.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2003 - Compliance review documents; confidentiality, exception; use in evidence.

8-2003.
Compliance review documents; confidentiality, exception; use in evidence.
Except as provided in section 8-2004:
(1) Compliance review documents are confidential and are not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee. Compliance review committee members shall treat compliance review documents and all proceedings of the compliance review committee as confidential and shall not be compelled to testify regarding such confidential documents or proceedings in any civil action arising out of matters evaluated by the compliance review committee, except that information, documents, or records otherwise available from original sources are not to be construed as immune from discovery or admissibility in any civil action merely because such information, documents, or records were evaluated by the compliance review committee; and
(2) Compliance review documents delivered to a federal or state governmental agency are to remain confidential and are not discoverable or admissible in evidence in any civil action arising out of matters evaluated by the compliance review committee.
Source
Laws 1995, LB 626, § 3.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2004 - Compliance review documents; confidentiality; held by governmental agency; effect.

8-2004.
Compliance review documents; confidentiality; held by governmental agency; effect.
Section 8-2003 does not apply to any information required by statute or rule and regulation to be maintained by or provided to a governmental agency while the information is in the possession of the governmental agency to the extent applicable law expressly authorizes its disclosure.
Source
Laws 1995, LB 626, § 4.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2005 - Sections; how construed.

8-2005.
Sections; how construed.
Sections 8-2001 to 8-2004 are not to be construed to limit the discovery or admissibility in any civil action of any documents that are not compliance review documents and shall not preclude a depository institution's primary state or federal regulator from obtaining compliance review documents.
Source
Laws 1995, LB 626, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2101 - Act, how cited.

8-2101.
Act, how cited.
Sections 8-2101 to 8-2108 shall be known and may be cited as the Interstate Branching and Merger Act.
Source
Laws 1997, LB 351, § 1;
Laws 2012, LB963, § 14.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2102 - Terms, defined.

8-2102.
Terms, defined.
For purposes of the Interstate Branching and Merger Act, unless the context otherwise requires:
(1) Bank means a bank as defined in 12 U.S.C. 1813, as such section existed on January 1, 2012;
(2) Department means the Department of Banking and Finance;
(3) Director means the Director of Banking and Finance;
(4) Home state means (a) with respect to a state chartered bank, the state in which the bank is chartered and (b) with respect to a national bank, the state in which the main office of the bank is located;
(5) Home state regulator means, with respect to an out-of-state state chartered bank, the bank supervisory agency of the state in which such bank is chartered;
(6) Host state means a state, other than the home state of a bank, in which the bank maintains, or seeks to establish and maintain, a branch;
(7) Interstate merger transaction means a merger or consolidation of two or more banks, at least one of which is a Nebraska bank and at least one of which is an out-of-state bank, and the conversion of the main office and the branches of any bank involved in such merger or consolidation into branches of the resulting bank;
(8) Nebraska bank means a bank whose home state is Nebraska;
(9) Nebraska state chartered bank means a corporation which is chartered to conduct a bank in this state pursuant to the Nebraska Banking Act;
(10) Out-of-state bank means a bank whose home state is a state other than Nebraska;
(11) Out-of-state state chartered bank means a bank chartered under the laws of any state other than Nebraska;
(12) Resulting bank means a bank that has resulted from an interstate merger transaction under the Interstate Branching and Merger Act; and
(13) State means any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
Source
Laws 1997, LB 351, § 2;
Laws 1998, LB 1321, § 74;
Laws 2008, LB851, § 15;
Laws 2012, LB963, § 15.
Cross References
Nebraska Banking Act, see section 8-101.02.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2103 - Nebraska state chartered bank; powers.

8-2103.
Nebraska state chartered bank; powers.
(1) A Nebraska state chartered bank may establish and maintain a branch or acquire a branch in any other state with the prior approval of the director and upon payment of the branch application fee set forth in section 8-602.
(2) A Nebraska state chartered bank may engage in an interstate merger transaction in any other state in which it is the resulting bank and establish one or more branches in such other state with the prior approval of the director and upon payment of the merger and branch application fees set forth in section 8-602.
(3) A Nebraska state chartered bank may conduct any activities at any branch outside the State of Nebraska that are permissible under the laws of the host state where the branch is located or of the United States.
Source
Laws 1997, LB 351, § 3;
Laws 2012, LB963, § 16.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2104 - Out-of-state bank; powers; interstate merger transaction; notice; powers and duties.

8-2104.
Out-of-state bank; powers; interstate merger transaction; notice; powers and duties.
(1) An out-of-state bank may establish and maintain a branch or acquire a branch in this state upon compliance with any applicable requirements of the Nebraska Model Business Corporation Act for registration or qualification to do business in this state.
(2) An out-of-state bank may engage in an interstate merger transaction in this state in which it is the resulting bank and establish one or more branches in this state. The out-of-state bank shall notify the department of the proposed interstate merger transaction involving a Nebraska state chartered bank within fifteen days after the date it files an application for an interstate merger transaction with its primary regulator.
(3) An out-of-state bank may conduct only those activities at its branch or branches in this state that are permissible under the laws of Nebraska or of the United States, except that an out-of-state bank with trust powers may exercise all trust powers in this state as a Nebraska bank with trust powers subject to the requirements of section 8-209.
(4) All branches of an out-of-state bank shall comply with all applicable Nebraska laws and regulations in the conduct of their business in this state to the maximum extent authorized by federal law.
Source
Laws 1997, LB 351, § 4;
Laws 2002, LB 1089, § 11;
Laws 2012, LB963, § 17;
Laws 2014, LB749, § 234.
Cross References
Nebraska Model Business Corporation Act, see section 21-201.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2106 - Interstate merger transaction; when prohibited.

8-2106.
Interstate merger transaction; when prohibited.
An interstate merger transaction shall not be permitted if, upon consummation of such transaction, the resulting bank or its bank holding company would have direct or indirect ownership or control of deposits in Nebraska in excess of twenty-two percent of the total deposits of all banks in Nebraska, plus the total deposits, savings accounts, passbook accounts, and share accounts in savings and loan associations and building and loan associations in Nebraska, as determined by the director on the basis of the most recent midyear reports, except as provided in subsection (4), (5), or (6) of section 8-910.
Source
Laws 1997, LB 351, § 6;
Laws 2008, LB851, § 16;
Laws 2012, LB963, § 18.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2107 - Director; powers and duties; costs.

8-2107.
Director; powers and duties; costs.
(1) The director may enter into cooperative, coordinating, and information-sharing agreements with any other bank supervisory agencies or any organization affiliated with or representing one or more bank supervisory agencies with respect to the periodic examination or other supervision of any branch in Nebraska of an out-of-state state chartered bank or any branch of a Nebraska state chartered bank in a host state, and the director may accept such reports of examination and reports of investigation in lieu of conducting his or her own examinations or investigations.
(2) The director may enter into contracts with any bank supervisory agencies that have concurrent jurisdiction over a Nebraska state chartered bank or an out-of-state state chartered bank operating a branch in this state to engage the services of such agencies' examiners or to provide the services of department examiners to such agency.
(3) The director may enter into joint examinations or joint enforcement actions with other bank supervisory agencies having concurrent jurisdiction over any branch in Nebraska of an out-of-state state chartered bank or any branch of a Nebraska state chartered bank in any host state. The director may, at any time, take such actions independently if he or she deems such actions to be necessary or appropriate to carry out his or her responsibilities under the Interstate Branching and Merger Act or to ensure compliance with the laws of this state. In the case of an out-of-state state chartered bank, the director shall recognize the exclusive authority of the home state regulator over corporate government matters and the primary responsibility of the home state regulator with respect to safety and soundness matters.
(4) The cost of any examination conducted under this section shall be assessed against such out-of-state state chartered bank in the manner set forth in sections 8-605 and 8-606 and paid for by such out-of-state state chartered bank.
Source
Laws 1997, LB 351, § 7;
Laws 2007, LB124, § 17;
Laws 2012, LB963, § 19.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2108 - Branch closing or disposal; act; how construed.

8-2108.
Branch closing or disposal; act; how construed.
Nothing in the Interstate Branching and Merger Act shall prevent the resulting bank in an interstate merger transaction from closing or disposing of any branches acquired in the transaction in accordance with state law subject to applicable federal law regarding branch closures.
Source
Laws 1997, LB 351, § 8;
Laws 2012, LB963, § 20.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2303 - Nebraska state-chartered trust company; out-of-state branch trust offices; authorized.

8-2303.
Nebraska state-chartered trust company; out-of-state branch trust offices; authorized.
A Nebraska state-chartered trust company may establish and maintain branch trust offices in any other state in accordance with the laws of the other state and with the prior approval of the director. A Nebraska state-chartered trust company may conduct any activities at any branch trust office outside the State of Nebraska that are permissible for a trust company chartered by the host state where the branch trust office is located or for a national bank authorized to conduct a trust company business within the host state.
Source
Laws 1998, LB 1321, § 56.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2304 - Nebraska state-chartered trust company; out-of-state representative trust offices; authorized.

8-2304.
Nebraska state-chartered trust company; out-of-state representative trust offices; authorized.
A Nebraska state-chartered trust company may establish and maintain representative trust offices in any other state in accordance with the laws of the other state and with the prior approval of the director. A Nebraska state-chartered trust company may not act in a fiduciary capacity but may conduct any other trust company activities at any representative trust office outside the State of Nebraska that are permissible for a representative trust office of a trust company chartered by the host state where the representative trust office is located or for a national bank authorized to conduct a trust company business within the host state.
Source
Laws 1998, LB 1321, § 57.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2305 - Out-of-state trust company; instate branch trust offices; authorized.

8-2305.
Out-of-state trust company; instate branch trust offices; authorized.
An out-of-state trust company may establish and maintain branch trust offices in Nebraska only if (1) the requirements of sections 8-2306 and 8-2307 are met and (2) the home state of the out-of-state trust company authorizes the establishment and maintenance of branch trust offices in that state by a Nebraska trust company under conditions no more restrictive than those imposed by the laws of Nebraska, as determined by the director.
Source
Laws 1998, LB 1321, § 58.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2306 - Out-of-state trust company; instate branch trust offices; requirements; procedure.

8-2306.
Out-of-state trust company; instate branch trust offices; requirements; procedure.
(1) An out-of-state trust company, in order to establish and maintain branch trust offices in Nebraska pursuant to section 8-2305, shall file written notice of the proposed transaction with the director on a form prescribed by the director on or after the date on which the out-of-state trust company applies to its home state regulator for approval to establish and maintain the branch trust office in this state. The notice shall include a copy of the application made to its home state regulator, a copy of a resolution of its board of directors authorizing the branch trust office, and the filing fee prescribed by section 8-602.
(2) An out-of-state trust company shall provide with the notice satisfactory evidence to the director of compliance with (a) any applicable requirements of the Nebraska Model Business Corporation Act and (b) the applicable requirements of its home state regulator for establishing and maintaining a branch trust office.
(3) An out-of-state trust company shall provide with the notice an affidavit from its president stating that for as long as it maintains a branch trust office in this state the trust company will comply with Nebraska law.
(4) An out-of-state trust company shall obtain a fidelity bond in accordance with section 8-205.01. Submission of a rider to an existing bond indicating that the required coverage is outstanding and evidencing the beneficiaries described in section 8-205.01 shall satisfy the requirements of this subsection. The bond or a substitute bond shall remain in effect during all periods in which the trust company conducts business in Nebraska.
Source
Laws 1998, LB 1321, § 59;
Laws 2014, LB749, § 235.
Cross References
Nebraska Model Business Corporation Act, see section 21-201.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2307 - Out-of-state trust company; instate branch trust offices; director; approval.

8-2307.
Out-of-state trust company; instate branch trust offices; director; approval.
(1) The director shall act within ninety days after receipt of notice under section 8-2306. The director may extend the ninety-day period if he or she determines that the notice raises issues that require additional information or additional time for analysis.
(2) The director may deny approval of the proposed branch trust office if he or she finds that the out-of-state trust company lacks sufficient financial resources to establish the branch trust office without adversely affecting its safety or soundness or that the establishment of the proposed branch trust office would not be in the public interest.
(3) If the out-of-state trust company is not insured by an agency of the federal government, the director may condition his or her approval on the satisfaction by the out-of-state trust company of any requirement applicable to a Nebraska state-chartered trust company pursuant to the Nebraska Trust Company Act.
(4) If the director does not extend the ninety-day period pursuant to subsection (1) of this section, he or she shall certify his or her approval or denial of the notice to the out-of-state trust company's home state regulator on or before the ninetieth day after receipt of notice. If the director imposes conditions pursuant to subsection (3) of this section, the conditions shall be satisfied prior to the director's certification of approval. A copy of the certification of approval shall be sent to the out-of-state trust company. If the notice is approved, the out-of-state trust company may commence business at the branch trust office upon compliance with sections 8-209 and 8-210.
(5) If the director does extend the ninety-day period pursuant to subsection (1) of this section, he or she shall act on the notice as soon as reasonably possible. Upon reaching a decision on the notice, the director shall certify his or her approval or denial of the notice to the out-of-state trust company's home state regulator. If the director imposes conditions pursuant to subsection (3) of this section, the conditions shall be satisfied prior to the director's certification of approval. A copy of such certification shall be sent to the out-of-state trust company. If the notice is approved, the out-of-state trust company may commence business at the branch trust office upon compliance with sections 8-209 and 8-210.
Source
Laws 1998, LB 1321, § 60.
Cross References
Nebraska Trust Company Act, see section 8-201.01.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2308 - Out-of-state trust company with instate branch trust office; representative trust offices; authorized; when.

8-2308.
Out-of-state trust company with instate branch trust office; representative trust offices; authorized; when.
An out-of-state trust company which has established and maintains at least one branch trust office in this state pursuant to the Interstate Trust Company Office Act may establish and maintain representative trust offices in Nebraska only if (1) the requirements of section 8-2309 are met and (2) the home state of the out-of-state trust company authorizes the establishment and maintenance of representative trust offices in that state by a Nebraska trust company under conditions no more restrictive than those imposed by the laws of Nebraska, as determined by the director.
Source
Laws 1998, LB 1321, § 61.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2309 - Out-of-state trust company with instate branch trust office; representative trust offices; requirements; procedure.

8-2309.
Out-of-state trust company with instate branch trust office; representative trust offices; requirements; procedure.
(1) An out-of-state trust company, in order to establish and maintain representative trust offices in Nebraska pursuant to section 8-2308, shall file written notice of the proposed transaction with the director on a form prescribed by the director. The notice shall include a list of the proposed activities to be conducted at the representative trust office, procedures to ensure that no fiduciary activities will be conducted at the representative trust office, a copy of a resolution of its board of directors authorizing the representative trust office, satisfactory evidence that the bond required pursuant to subsection (4) of section 8-2306 will cover the activities at the representative trust office, any other information which the director may require, and the filing fee prescribed by section 8-602.
(2) The director shall act within sixty days after receipt of the notice under subsection (1) of this section. The director may extend the sixty-day period if he or she determines that the notice raises issues that require additional information or additional time for analysis. If the sixty-day period is extended, the out-of-state trust company may establish a representative trust office only on prior written approval of the director.
(3) The director may deny approval of the proposed representative trust office if he or she finds that the trust company lacks sufficient financial resources to establish the representative trust office without adversely affecting its safety or soundness or that the establishment of the proposed representative trust office would not be in the public interest.
(4) If the director does not extend the sixty-day period pursuant to subsection (2) of this section and does not act within sixty days, the out-of-state trust company may establish representative trust offices on the sixty-first day following the director's receipt of notice.
Source
Laws 1998, LB 1321, § 62.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2310 - Out-of-state trust company without instate branch trust office; representative trust offices; authorized; when.

8-2310.
Out-of-state trust company without instate branch trust office; representative trust offices; authorized; when.
An out-of-state trust company which has not established and does not maintain a branch trust office in this state may establish and maintain representative trust offices in Nebraska only if (1) the requirements of section 8-2311 are met and (2) the home state of the out-of-state trust company authorizes the establishment and maintenance of representative trust offices in that state by a Nebraska trust company under conditions no more restrictive than those imposed by the laws of Nebraska, as determined by the director.
Source
Laws 1998, LB 1321, § 63.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2311 - Out-of-state trust company without instate branch trust office; representative trust offices; requirements; procedure.

8-2311.
Out-of-state trust company without instate branch trust office; representative trust offices; requirements; procedure.
(1) An out-of-state trust company, in order to establish and maintain representative trust offices in Nebraska pursuant to section 8-2310, shall file written notice of the proposed transaction with the director on a form prescribed by the director. The notice shall include, in addition to the information and fee prescribed in subsection (1) of section 8-2309:
(a) Satisfactory evidence that the out-of-state trust company is a trust company;
(b) Satisfactory evidence of compliance with any applicable requirements of the Nebraska Model Business Corporation Act;
(c) An affidavit from its president stating that for as long as it maintains a representative trust office in this state the trust company will comply with Nebraska law; and
(d) Submission of a fidelity bond in accordance with section 8-205.01. Submission of a rider to an existing bond indicating that the required coverage is outstanding and evidencing the beneficiaries described in section 8-205.01 shall satisfy the requirements of this subdivision. The bond or a substitute bond shall remain in effect during all periods in which the trust company conducts business in Nebraska.
(2) The director shall act within ninety days after receipt of notice under subsection (1) of this section. The director may extend the ninety-day period if he or she determines that the notice raises issues that require additional information or additional time for analysis. If the ninety-day period is extended, the out-of-state trust company may establish representative trust offices only on prior written approval of the director.
(3) The director may deny approval of the proposed representative trust office if he or she finds that the trust company lacks sufficient financial resources to establish the representative trust office without adversely affecting its safety or soundness, that the trust company does not have adequate fidelity bond coverage, or that the proposed representative trust office would not be in the public interest.
(4) If the director does not extend the ninety-day period pursuant to subsection (2) of this section and does not act within ninety days, the out-of-state trust company may, upon compliance with sections 8-209 and 8-210, establish representative trust offices on the ninety-first day following the director's receipt of notice.
Source
Laws 1998, LB 1321, § 64;
Laws 2014, LB749, § 236.
Cross References
Nebraska Model Business Corporation Act, see section 21-201.