reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-358 - Association, defined.

8-358.
Association, defined.
Association shall mean a savings and loan association, referred to as a building and loan association, or loan and building association, building association, savings and loan association, or loan and savings association, incorporated and now existing under the laws of this state or incorporated under sections 8-356 to 8-384.
Source
Laws 1981, LB 500, § 3.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-364 - Foreign association, defined.

8-364.
Foreign association, defined.
Foreign association shall mean any firm, company, association, partnership, limited liability company, or corporation actually engaged in the business of a savings and loan association which is not organized under the laws of this state or of the United States.
Source
Laws 1981, LB 500, § 9;
Laws 1993, LB 121, § 89.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-365 - Net worth of a stock association, defined.

8-365.
Net worth of a stock association, defined.
Net worth of a stock association shall mean the aggregate of the capital stock account, paid-in surplus, earned surplus, legal and federal insurance reserves, and undivided profits.
Source
Laws 1981, LB 500, § 10.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-366 - Capital stock, defined.

8-366.
Capital stock, defined.
Capital stock shall mean that part of the capital or liabilities of an association representing ownership of the association and which is not subject to being withdrawn or the value paid to the holder of such stock until all other liabilities of the association have been fully liquidated and paid.
Source
Laws 1981, LB 500, § 11.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-371 - Capital stock association; organization; prerequisites.

8-371.
Capital stock association; organization; prerequisites.
No capital stock association may be organized unless, prior to the filing of its articles of incorporation and bylaws, such amounts of its capital stock set forth in department rules and regulations or as the director shall deem adequate, shall have been subscribed for and paid into the association. Every stock association shall also obtain insurance of accounts from an agency of the federal government prior to commencing operation.
Source
Laws 1981, LB 500, § 16.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-372 - Capital stock association; application; contents.

8-372.
Capital stock association; application; contents.
Every corporation organized for and desiring to conduct a capital stock association shall make under oath and transmit to the department a complete detailed application, giving the name of the proposed capital stock association, a certified copy of the articles of incorporation, the names of the stockholders, the county, city, or village and the exact location within such city or village where such association is proposed to be located, the nature of the proposed capital stock association business, the proposed amounts of capital stock, surplus, and undivided profits, and the items of actual cash and property, as reported and approved at a meeting of the stockholders.
Source
Laws 1981, LB 500, § 17.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-373 - Capital stock association; articles of incorporation; application; file information with department; examination fee.

8-373.
Capital stock association; articles of incorporation; application; file information with department; examination fee.
A copy of the articles of incorporation and bylaws of every association applying under section 8-372 shall be filed with the department together with an application for a certificate of approval and payment of the examination fee prescribed by section 8-602. The application shall furnish and set forth information as may be required by the department's rules and regulations and the information required by sections 8-356 to 8-384.
Source
Laws 1981, LB 500, § 18;
Laws 2003, LB 217, § 12.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-374 - Department; hearing on application; notice; purpose.

8-374.
Department; hearing on application; notice; purpose.
(1) Prior to issuing a certificate of approval, the department, upon receiving an application for a stock savings and loan association, shall (a) publish notice of filing of the application for a period of three weeks in a legal newspaper published in or of general circulation in the county where the applicant proposes to operate the savings and loan association and (b) give notice of such application for a stock savings and loan association to all financial institutions within the county where the proposed main office of the stock savings and loan would be located and to such other interested parties as the director may determine. The director shall send the notice to financial institutions by first-class mail, postage prepaid, or electronic mail. Electronic mail may be used if the financial institution agrees in advance to receive such notices by electronic mail. A financial institution may designate one office for receipt of any such notice if it has more than one office located within the county where such notice is to be sent or a main office in a county other than the county where such notice is to be sent.
(2) A public hearing shall be held on each application. The date for hearing the application shall be not more than ninety days after filing the application and not less than thirty days after the last publication of notice. Such hearing shall be held to determine:
(a) Whether the articles of incorporation and bylaws conform to the requirements of sections 8-356 to 8-384 and contain a just and equitable plan for the management of the association's business;
(b) Whether the persons organizing such association are of good character and responsibility;
(c) Whether in the department's judgment a need exists for such an institution in the community to be served;
(d) Whether there is a reasonable probability of its usefulness and success; and
(e) Whether the same can be established without undue injury to properly conducted existing local savings and loan associations, whether mutual or capital stock in formation.
(3) The expense of any publication and mailing required by this section shall be paid by the applicant but payment shall not be a condition precedent to approval by the director.
Source
Laws 1981, LB 500, § 19;
Laws 2008, LB851, § 12;
Laws 2010, LB890, § 9;
Laws 2016, LB751, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-375 - Department; issue certificate of approval; when.

8-375.
Department; issue certificate of approval; when.
If the department, upon completion of its investigation and the public hearing of the application, is satisfied that such corporation has complied with the requirements of sections 8-356 to 8-384 and department rules and regulations, it shall issue a certificate of approval stating that such corporation has complied with the laws of this state, and granting such savings and loan association the authority to commence business.
Source
Laws 1981, LB 500, § 20.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-376 - Capital stock association; transaction of business; conditions.

8-376.
Capital stock association; transaction of business; conditions.
No capital stock association shall transact any business, except the execution of its articles of incorporation, the adoption of the bylaws, and the election of directors and officers, until such association has been approved by the department and such association has submitted to the department evidence of insurance of accounts by an agency of the federal government. This section shall not apply to existing mutual associations operating without such insurance as of August 30, 1981, if they continue to operate as mutual associations.
Source
Laws 1981, LB 500, § 21.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-377 - Payment to person selling stock prohibited; exception.

8-377.
Payment to person selling stock prohibited; exception.
No corporation organized for the purpose of conducting a savings and loan association under the laws of this state shall be granted a certificate of approval if there have been any premium, bonus, commission, compensation, reward, salary, or other forms of remuneration paid or promised to be paid, to any person for selling the stock of such corporation, except that reasonable compensation in the form of commissions may be paid to persons or organizations authorized by law to act as brokers of stock for acting in such capacity.
Source
Laws 1981, LB 500, § 22.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-378 - Mutual association; conversion to capital stock association; authorized; plan of conversion; approval required.

8-378.
Mutual association; conversion to capital stock association; authorized; plan of conversion; approval required.
(1) Any state or federal mutual association, if substantial business benefit to the applicant will result, and if otherwise permitted by federal law and regulations, may apply to convert to a state or federal capital stock association, in accordance with the provisions set forth in sections 8-356 to 8-384 and in any rules and regulations that may be adopted or promulgated by the Department of Banking and Finance.
(2) Any applicant subject to subsection (1) of this section seeking to convert its corporate form pursuant to this section shall first obtain approval of a plan of conversion by resolution adopted by not less than a two-thirds majority vote of the total number of directors authorized.
(3) Upon approval of a plan of conversion by the board of directors, such plan and the resolution approving it shall be submitted to the department. The department may approve or disapprove the plan of conversion in its discretion, but shall not approve the plan unless a finding is made, after appropriate examination, that substantial business benefit to the applicant will result, that the plan of conversion is fair and equitable, that the interests of the applicant, its members or stockholders, its savings account holders and the public are adequately protected, and that the converting applicant has complied with the requirements of this section. If the department approves the plan of conversion, the approval, which shall be in writing and sent to the home office of the converting applicant, may prescribe terms and conditions to be fulfilled either before or after the conversion to cause the applicant to conform with the requirements of sections 8-356 to 8-384. If the department disapproves the plan of conversion, the objections shall be stated in writing and sent to the home office of the converting applicant, and the applicant afforded an opportunity to amend and resubmit the plan within a reasonable time as prescribed by the department. In the event that the department disapproves the plan after such resubmission, written notice of such final disapproval shall be sent by certified mail to the applicant's home office.
Source
Laws 1981, LB 500, § 23;
Laws 2003, LB 217, § 13.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-379 - Mutual association; conversion to capital stock association; plan of conversion; approval of members or stockholders; procedure.

8-379.
Mutual association; conversion to capital stock association; plan of conversion; approval of members or stockholders; procedure.
If the department approves a plan to conversion in accordance with section 8-378, such plan shall be submitted for adoption to the members or stockholders of the converting association by vote at an annual or special meeting called to consider such action. At least three weeks prior to such meeting, a copy of the plan, together with an accurate summary plan description explaining the operation of the plan and the rights, duties, obligations, liabilities, conditions, and requirements which may be imposed upon such members or stockholders and the converted association as a result of the adoption of such plan, shall be mailed to each member or stockholder eligible to vote at such meeting. The plan of conversion must be approved by not less than sixty percent of the total outstanding shares, which may be voted by proxy or in person at the meeting called to consider such a conversion. If such plan is so approved, action shall be taken to obtain a charter, articles of incorporation, articles of association, or similar instrument, adopt bylaws, elect directors and officers and take such other action as is prescribed or appropriate for the type of corporation into which the converting applicant will be converted. A certified report of the proceedings at such meeting shall be filed promptly with the department.
Source
Laws 1981, LB 500, § 24.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-380 - Conversion; plan of conversion; requirements.

8-380.
Conversion; plan of conversion; requirements.
In any plan of conversion from a capital stock form of organization to a mutual form:
(1) Each savings account holder shall receive without payment a withdrawable account of the same general class in the converted institution equal in amount and equal in time tenure to his or her withdrawable account in the converting capital stock institution;
(2) The plan shall specify how and in what amount the return of capital to each class of stockholder in the form of an exchange of stock for savings accounts shall be effectuated;
(3) The plan shall provide for allocation of voting rights to the holders of savings accounts and the manner of exercise thereof; and
(4) The plan shall provide for evidence of insurance of deposits and other accounts of a withdrawable type by an agency of the federal government.
Source
Laws 1981, LB 500, § 25.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-381 - Mutual association; conversion; certificate of conversion; issuance; when effective.

8-381.
Mutual association; conversion; certificate of conversion; issuance; when effective.
If the department finds that a conversion proceeding has been completed in accordance with the requirements of sections 8-378 to 8-380 and any other applicable law and regulations, the department shall issue to the applicant a certificate of conversion, attaching as a part of such certificate a copy of the charter, articles of incorporation, articles of association, or similar instrument. Such conversion shall not become effective until the issuance of the certificate as provided in this section.
Source
Laws 1981, LB 500, § 26.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-382 - Mutual association; conversion; effect.

8-382.
Mutual association; conversion; effect.
Upon the issuance to any applicant of a certificate of conversion as provided in section 8-381, the corporate existence of the converting association shall not terminate, but such association shall be a continuation of the entity so converted and all property of the converted 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 applicant, 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 applicant, and such converted association, upon issuance of the certificate of such conversion, shall continue to have and succeed to all the rights, obligations, and relations of the converting association. All pending actions and other judicial proceedings to which the converting 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 applicant may continue the actions in its new corporate name. Any judgment, order, or decree may be rendered for or against it which might have been rendered for or against the converting applicant theretofore involved in the proceedings.
Source
Laws 1981, LB 500, § 27.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-383 - State associations; consolidation or merger; procedure; proposed plan; approval; department; powers.

8-383.
State associations; consolidation or merger; procedure; proposed plan; approval; department; powers.
When any savings and loan association or building and loan association organized under the laws of this state shall, by its duly qualified officers and board of directors, propose to consolidate or merge with any other savings and loan association or building and loan association or associations, each such association shall present the proposed plan of consolidation or merger, together with a statement of the condition of the affairs of such association to the department for its approval. Should the plan be approved by the department, the same shall be submitted to a regular or special meeting of the shareholders of each such association and notice of such meeting shall be given as the department may direct. If, at such meeting of the shareholders of any such association, not less than fifty-one percent of the shareholders vote affirmatively, either in person or by proxy, to adopt the proposed plan, as the same is approved and submitted by the department, the department shall, upon notice of the favorable result of the shareholders' meeting, direct each of such associations to put into effect the plan of consolidation or merger so approved. Such plan shall be in force and effect from and after the date of such order, except that such consolidation or merger shall not be approved and put into effect unless approved by a majority of those voting on the consolidation or merger. There is hereby vested in the department full power and authority to issue and enforce such orders having to do with carrying out the plan of consolidation or merger adopted as shall be necessary for the protection of the shareholders and distribution of the assets of the associations involved in the consolidation or merger.
Source
Laws 1981, LB 500, § 28.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-384 - Sections, how construed.

8-384.
Sections, how construed.
In the event of an inconsistency between the provisions of sections 8-356 to 8-384 and the provisions of Chapter 8, article 3, such other provisions shall, to the extent of the inconsistency, be construed to be applicable to mutual associations only and not to the capital stock association.
Source
Laws 1981, LB 500, § 29.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-501 - Limitation of liability by contract; lease agreement; limitation of amount; assumption of risk; limitation of use; burden of proof.

8-501.
Limitation of liability by contract; lease agreement; limitation of amount; assumption of risk; limitation of use; burden of proof.
Any corporation, partnership, limited liability company, or person engaged in the business of maintaining and operating safety deposit boxes for storage or deposit for safekeeping of securities or valuables within this state may, in any written lease or contract governing or regulating the use of any such box or boxes by any user or customer, create either the relationship of lessor and lessee or the relationship of bailor and bailee, and to the relationship so created the general laws of the state applicable thereto shall apply, except that where the relationship of lessor and lessee is created the liability of the lessor may be limited in any or all of the following particulars:
(1) By limitation of liability for any loss to the lessee for and on account of negligence on the part of the lessor, his, her, or its agents or servants, to such maximum amount as may be stipulated, not less, however, than three hundred times the annual rental of such box or boxes;
(2) By limitation of the use of such safety deposit box or boxes to exclude therefrom money, currency, jewelry, or securities payable to bearer and other tangible property of value and choses in action and to provide that if any such money, currency, jewelry, securities payable to bearer, or other tangible property of value or choses in action are placed therein by the lessee, the lessee shall assume the entire risk of loss thereof or damage thereto without any liability on the part of the lessor for any such loss or damage in any event or for any cause whatsoever;
(3) By stipulation by the parties that evidence tending to prove that property left in any such safety deposit box upon the last entry by the lessee or his or her authorized agent or any part thereof was found missing upon subsequent entry shall not raise any presumption that the same was lost by any negligence or wrongdoing on the part of the lessor, his, her, or its agents or servants or to put upon the lessor of such safety deposit box the burden of proof that such alleged loss was not the fault of the lessor.
Source
Laws 1941, c. 8, § 1, p. 77;
C.S.Supp.,1941, § 8-801;
R.S.1943, § 8-501;
Laws 1993, LB 121, § 91.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-502 - Liability; determination of applicable law.

8-502.
Liability; determination of applicable law.
The liabilities of the parties to any such contract shall in all other respects be governed either by the law applicable to lessor and lessee or the law applicable to bailor and bailee, whichever basis is stipulated in the contract between the owner of the safety deposit box and the user or customer thereof.
Source
Laws 1941, c. 8, § 2, p. 78;
C.S.Supp.,1941, § 8-802;
R.S.1943, § 8-502.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-601 - Director of Banking and Finance; employees; financial institutions; levy of assessment authorized.

8-601.
Director of Banking and Finance; employees; financial institutions; levy of assessment authorized.
The Director of Banking and Finance may employ deputies, examiners, attorneys, and other assistants as may be necessary for the administration of the provisions and purposes of the Credit Union Act, Delayed Deposit Services Licensing Act, Interstate Branching and Merger Act, Interstate Trust Company Office Act, Nebraska Bank Holding Company Act of 1995, Nebraska Banking Act, Nebraska Financial Innovation Act, Nebraska Installment Loan Act, Nebraska Installment Sales Act, Nebraska Money Transmitters Act, Nebraska Trust Company Act, and Residential Mortgage Licensing Act; Chapter 8, articles 3, 5, 6, 7, 8, 13, 14, 15, 16, 19, 20, 24, and 25; and Chapter 45, articles 1 and 2. The director may levy upon financial institutions, namely, the banks, trust companies, building and loan associations, savings and loan associations, savings banks, digital asset depositories, and credit unions, organized under the laws of this state, and holding companies, if any, of such financial institutions, an assessment each year based upon the asset size of the financial institution, except that in determining the asset size of a holding company or digital asset depository, the assets of any financial institution or holding company otherwise assessed pursuant to this section and the assets of any nationally chartered financial institution shall be excluded. The assessment for digital asset depositories under the Nebraska Financial Innovation Act shall be in an amount to offset the costs of supervision and administration of the Nebraska Financial Innovation Act. The assessment shall be a sum determined by the director in accordance with section 8-606 and approved by the Governor.
Source
Laws 1937, c. 20, § 1, p. 128;
C.S.Supp.,1941, § 8-701;
R.S.1943, § 8-601;
Laws 1955, c. 15, § 1, p. 83;
Laws 1973, LB 164, § 20;
Laws 1976, LB 561, § 2;
Laws 1980, LB 966, § 2;
Laws 1986, LB 910, § 1;
Laws 2002, LB 1094, § 6;
Laws 2003, LB 131, § 7;
Laws 2007, LB124, § 8;
Laws 2013, LB616, § 49;
Laws 2017, LB140, § 135;
Laws 2021, LB649, § 43.
Cross References
Credit Union Act, see section 21-1701.
Delayed Deposit Services Licensing Act, see section 45-901.
Interstate Branching and Merger Act, see section 8-2101.
Interstate Trust Company Office Act, see section 8-2301.
Nebraska Bank Holding Company Act of 1995, see section 8-908.
Nebraska Banking Act, see section 8-101.02.
Nebraska Financial Innovation Act, see section 8-3001.
Nebraska Installment Loan Act, see section 45-1001.
Nebraska Installment Sales Act, see section 45-334.
Nebraska Money Transmitters Act, see section 8-2701.
Nebraska Trust Company Act, see section 8-201.01.
Residential Mortgage Licensing Act, see section 45-701.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-603 - Assessments, fees, and money collected by Director of Banking and Finance; use.

8-603.
Assessments, fees, and money collected by Director of Banking and Finance; use.
The assessments referred to in sections 8-605 and 8-606, examination fees, investigation fees, filing fees, registration fees, licensing fees, and all other fees and money, except fines, collected by or paid to the Director of Banking and Finance under any of the laws specified in section 8-601, shall be remitted to the State Treasurer for credit to the Financial Institution Assessment Cash Fund. Fines collected by the director under such laws shall be remitted to the State Treasurer for distribution in accordance with Article VII, section 5, of the Constitution of Nebraska.
Source
Laws 2007, LB124, § 10;
Laws 2017, LB140, § 137.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-604 - Financial Institution Assessment Cash Fund; created; use; investment.

8-604.
Financial Institution Assessment Cash Fund; created; use; investment.
(1) The Financial Institution Assessment Cash Fund is hereby created. The fund shall be used solely for the purposes of administering and enforcing the laws specified in section 8-601.
(2) Any money in the fund available for investment shall be invested by the state investment officer pursuant to the Nebraska Capital Expansion Act and the Nebraska State Funds Investment Act.
Source
Laws 2007, LB124, § 11.
Cross References
Nebraska Capital Expansion Act, see section 72-1269.
Nebraska State Funds Investment Act, see section 72-1260.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-605 - Director of Banking and Finance; assessment; proration; special assessment.

8-605.
Director of Banking and Finance; assessment; proration; special assessment.
(1) As soon as reasonably possible after June 30 of each year, the Director of Banking and Finance shall estimate the total sum required for the purposes set forth in section 8-604 for the succeeding fiscal year. The director shall also estimate the total sum expected to be collected pursuant to section 8-603. The director shall use the difference between the estimate of the total sum required and the estimate of the total sum to be collected as the basis for the assessment to be levied.
(2) The assessment upon each financial institution shall be based upon the total assets of each financial institution, as reported in each financial institution's report of condition prepared for the period ending June 30 of each year, and, after June 30, 2009, may further be based upon the total amount of fiduciary and related assets and the total amount of off-balance-sheet receivables as reported in each financial institution's report of condition prepared for the period ending June 30 of each year.
(3) The director shall have the authority to prorate the assessment for any financial institution or entity which surrenders its charter or license or receives its charter or license during the assessment period. Proration shall be based on the number of months the financial institution held its charter or license. Any portion of a month shall be counted as one month.
(4) If the estimated sum levied and collected is insufficient to defray the expenditures for the fiscal year for which it was made, a special assessment may be levied and collected in like manner for the balance of the fiscal year.
Source
Laws 2007, LB124, § 12.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-606 - Department of Banking and Finance; costs of examination of financial institution or entity; billing; travel costs.

8-606.
Department of Banking and Finance; costs of examination of financial institution or entity; billing; travel costs.
(1) As soon as reasonably possible following the examination of a financial institution or entity pursuant to the laws specified in section 8-601, the Department of Banking and Finance shall bill the financial institution or entity the costs of the examination. Such costs may include an hourly fee for examiner time, which shall be determined once each year by the Director of Banking and Finance, with the approval of the Governor, and which shall take into consideration whether the financial institution or entity is subject to the assessment.
(2) In case an extra examination or an investigation of any financial institution or entity becomes necessary and is made pursuant to the laws specified in section 8-601, the costs thereof shall be paid by the financial institution or entity examined or investigated.
(3) In the case of a financial institution or entity organized under the law of a state other than this state or a financial institution or entity organized under the law of this state but which maintains an office in another state or states, travel expenses involved in conducting an examination or investigation may also be billed to the financial institution or entity, if the examination or investigation involves travel outside this state.
Source
Laws 2007, LB124, § 13.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-607 - Failure to pay assessment, fee, or cost; Department of Banking and Finance; collection procedures; suspension or revocation of charter or license.

8-607.
Failure to pay assessment, fee, or cost; Department of Banking and Finance; collection procedures; suspension or revocation of charter or license.
(1) If a financial institution or entity fails to pay an annual assessment, special assessment, examination fee, examination cost, investigation fee, investigation cost, or travel expense by a date specified by the Department of Banking and Finance, which shall be not less than thirty days from the date of billing, the department may, following notice and opportunity for hearing pursuant to the Administrative Procedure Act, impose a fine in accordance with section 8-1,134 for each day the financial institution or entity is in arrears.
(2) If the financial institution or entity is in arrears for sixty days or more, the department may, in addition to any fine imposed under this section, following notice and opportunity for hearing pursuant to the Administrative Procedure Act, suspend or revoke the charter or license of any financial institution or entity or the license or authority of any person responsible for such failure.
(3) The Director of Banking and Finance may, in his or her discretion and for good cause shown, permit the payment of any annual assessment, special assessment, examination fee, examination cost, investigation fee, investigation cost, travel expense, or fine, in installments.
Source
Laws 2007, LB124, § 14.
Cross References
Administrative Procedure Act,  see section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-701 - Banking institution; definition.

8-701.
Banking institution; definition.
For purposes of sections 8-701 to 8-709, banking institution means any bank, stock savings bank, mutual savings bank, building and loan association, digital asset depository institution under the Nebraska Financial Innovation Act, or savings and loan association, which is now or may hereafter be organized under the laws of this state.
Source
Laws 1935, c. 8, § 1, p. 72;
C.S.Supp.,1941, § 8-401;
R.S.1943, § 8-701;
Laws 2003, LB 217, § 15;
Laws 2005, LB 533, § 21;
Laws 2017, LB140, § 138;
Laws 2021, LB649, § 45.
Cross References
Nebraska Financial Innovation Act, see section 8-3001.
Annotations
A state bank which becomes a member of Federal Deposit Insurance Corporation thereby becomes an instrumentality of the United States, and federal statute forbidding embezzlement of funds of member bank applies to officer of such bank. United States v. Doherty, 18 F.Supp. 793 (D. Neb. 1937), affirmed, 94 F.2d 495 (8th Cir. 1938).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-703 - Insolvent banks; appointment of Federal Deposit Insurance Corporation as receiver or liquidator.

8-703.
Insolvent banks; appointment of Federal Deposit Insurance Corporation as receiver or liquidator.
The Federal Deposit Insurance Corporation created by section 8 of the Federal Banking Act of 1933 (section 12B of the Federal Reserve Act, as amended) is hereby authorized and empowered to be and act without bond as receiver or liquidator of any banking institution, the deposits in which are to any extent insured by said corporation, and which shall have been closed on account of inability to meet the demands of its depositors. The appropriate state authority, having the right to appoint a receiver or liquidator of a banking institution, may, in the event of such closing, tender to said corporation the appointment as receiver or liquidator of such banking institution, and, if the corporation accepts such appointment, the corporation shall have and possess all the powers and privileges provided by the laws of this state with respect to a receiver or liquidator respectively of a banking institution, its depositors and other creditors, and be subject to all the duties of such receiver or liquidator except insofar as such powers, privileges or duties are in conflict with the provisions of subsection (1) of section 12B of the Federal Reserve Act, as amended (section 8 of the Banking Act of 1933).
Source
Laws 1935, c. 8, § 3, p. 73;
C.S.Supp.,1941, § 8-403;
R.S.1943, § 8-703.
Annotations
Where the FDIC is acting as a receiver of a state-chartered banking institution, in dealing with the rights or obligations of depositors, creditors, or stockholders, its powers, privileges, and duties are controlled by state law. Northern Bank v. Federal Dep. Ins. Corp., 242 Neb. 591, 496 N.W.2d 459 (1993).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-704 - Insolvent banks; Federal Deposit Insurance Corporation subrogated to depositors' rights.

8-704.
Insolvent banks; Federal Deposit Insurance Corporation subrogated to depositors' rights.
Whenever any banking institution shall have been closed as aforesaid, and the Federal Deposit Insurance Corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, the corporation, whether or not it shall have become receiver or liquidator of such closed banking institution as herein provided, shall be subrogated to all rights against such closed banking institution of the owners of such deposits in the same manner and to the same extent as subrogation of the corporation is provided for in subsection (1) of section 12B of the Federal Reserve Act, as amended (being section 8, of the Banking Act of 1933) in the case of the closing of a national bank;
Provided,
that the rights of depositors and other creditors of such closed institution shall be determined in accordance with the applicable provisions of the laws of this state.
Source
Laws 1935, c. 8, § 4, p. 74;
C.S.Supp.,1941, § 8-404;
R.S.1943, § 8-704.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-705 - Examinations, reports of other examiners; Director of Banking and Finance may accept.

8-705.
Examinations, reports of other examiners; Director of Banking and Finance may accept.
The Director of Banking and Finance is authorized to accept in his or her discretion, in lieu of any examination authorized by the laws of this state to be conducted by his or her department of a banking institution, the examination that may have been made of such banking institution within a reasonable period by the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, the Consumer Financial Protection Bureau, or a foreign state agency if a copy of the examination is furnished to the director. The director may also in his or her discretion accept any report relative to the condition of a banking institution which may have been obtained by the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, the Consumer Financial Protection Bureau, or a foreign state agency within a reasonable period in lieu of a report authorized by the laws of this state to be required of such institution by his or her department if a copy of such report is furnished to the director.
As used in this section, unless the context otherwise requires, foreign state agency shall mean any duly constituted regulatory or supervisory agency which has authority over financial institutions and which is created under the laws of any other state, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands or which is operating under the code of law for the District of Columbia.
Source
Laws 1935, c. 8, § 5, p. 74;
C.S.Supp.,1941, § 8-405;
R.S.1943, § 8-705;
Laws 1988, LB 375, § 4;
Laws 2013, LB213, § 10.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-706 - Examinations, reports of Director of Banking and Finance; may be furnished to other examiners.

8-706.
Examinations, reports of Director of Banking and Finance; may be furnished to other examiners.
The Director of Banking and Finance may furnish to the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, the Consumer Financial Protection Bureau, or a foreign state agency, or to any official or examiner thereof, a copy or copies of any or all examinations made of any such banking institution and of any or all reports made by it and shall give access and disclose to the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, the Consumer Financial Protection Bureau, or a foreign state agency, or to any official or examiner thereof, any and all information possessed by the office of the director with reference to the conditions or affairs of any such insured institution. Nothing in this section shall be construed to limit the duty of any banking institution in this state, deposits in which are to any extent insured under the provisions of section 8 of the Banking Act of 1933 (section 12B of the Federal Reserve Act, as amended), or of any amendment of or substitution for the same, to comply with the provisions of such act, its amendments or substitutions, or the requirements of the Federal Deposit Insurance Corporation relative to examinations and reports, nor to limit the powers of the director with reference to examinations and reports under existing law.
As used in this section, unless the context otherwise requires, foreign state agency shall mean any duly constituted regulatory or supervisory agency which has authority over financial institutions and which is created under the laws of any other state, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands or which is operating under the code of law for the District of Columbia.
Source
Laws 1935, c. 8, § 6, p. 74;
C.S.Supp.,1941, § 8-406;
R.S.1943, § 8-706;
Laws 1988, LB 375, § 5;
Laws 2013, LB213, § 11.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-707 - Insolvent banks; loans from Federal Deposit Insurance Corporation; security; sale of assets to corporation; conditions.

8-707.
Insolvent banks; loans from Federal Deposit Insurance Corporation; security; sale of assets to corporation; conditions.
With respect to any banking institution which is now or may hereafter be closed on account of inability to meet the demands of its depositors, or by action of the Director of Banking and Finance, or of a court, or by action of its directors, or in the event of its insolvency or suspension, the Director of Banking and Finance, or the receiver or liquidator of such institution with the permission of the Director of Banking and Finance may borrow from the Federal Deposit Insurance Corporation and furnish any part or all of the assets of said institution to the corporation as security for a loan from the same;
Provided,
that where the corporation is acting as such receiver or liquidator, the order of a court of record of competent jurisdiction shall be first obtained approving such loan. The Director of Banking and Finance, upon the order of a court of record of competent jurisdiction, and upon a like order and with the permission of the Director of Banking and Finance the receiver or liquidator of any such institution, may sell to the corporation any part or all of the assets of such institution. The provisions of this section shall not be construed to limit the power of any banking institution, the Director of Banking and Finance, or receivers or liquidators, to pledge or sell assets in accordance with any existing law.
Source
Laws 1935, c. 8, § 7, p. 75;
C.S.Supp.,1941, § 8-407;
R.S.1943, § 8-707.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-708 - Insolvent bank; Federal Deposit Insurance Corporation as receiver or liquidator; title to property.

8-708.
Insolvent bank; Federal Deposit Insurance Corporation as receiver or liquidator; title to property.
Upon the acceptance of the appointment of receiver or liquidator aforesaid by the Federal Deposit Insurance Corporation, the possession of and title to all the assets, business and property of such banking institution of every kind and nature shall pass to and vest in said corporation and without the execution of any instruments of conveyance, assignment, transfer or endorsement.
Source
Laws 1935, c. 8, § 8, p. 75;
C.S.Supp.,1941, § 8-408;
R.S.1943, § 8-708.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-709 - Insolvent bank; Federal Deposit Insurance Corporation as receiver or liquidator; enforcement of stockholders' liability.

8-709.
Insolvent bank; Federal Deposit Insurance Corporation as receiver or liquidator; enforcement of stockholders' liability.
Among its other powers, the Federal Deposit Insurance Corporation in the performance of its powers and duties as such receiver or liquidator, shall have the right and power upon the order of a court of record of competent jurisdiction to enforce the individual liability of the stockholders and directors of any such banking institution.
Source
Laws 1935, c. 8, § 9, p. 76;
C.S.Supp.,1941, § 8-409;
R.S.1943, § 8-709.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-711 - Banks, trust companies, insurance companies; loans under National Housing Act; authority to make.

8-711.
Banks, trust companies, insurance companies; loans under National Housing Act; authority to make.
Notwithstanding any more general or special law of the State of Nebraska to the contrary, banks, savings banks, trust companies and insurance companies are authorized (1) to make such loans and advances of credit, and purchases of obligations representing loans and advances of credit, as are eligible for insurance by the Federal Housing Administrator, and to obtain such insurance; and (2) to make such loans, secured by real property or leasehold, as the Federal Housing Administrator insures or makes a commitment to insure, and to obtain such insurance.
Source
Laws 1935, c. 17, § 1, p. 92;
Laws 1937, c. 13, § 1, p. 117;
C.S.Supp.,1941, § 8-501;
R.S.1943, § 8-711.
Annotations
Insurance company upon becoming member of Federal Home Loan Bank may make loans insured by Federal Housing Administration. Service Life Ins. Co. v. United States, 189 F.Supp. 282 (D. Neb. 1960).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-712 - Banks, trust companies, insurance companies, fiduciaries; investments in National Housing Act securities; authority to make.

8-712.
Banks, trust companies, insurance companies, fiduciaries; investments in National Housing Act securities; authority to make.
It shall be lawful for banks, savings banks, trust companies, insurance companies, personal representatives, administrators, guardians, trustees, and other fiduciaries, the State of Nebraska and its political subdivisions, and institutions and agencies thereof, to invest their funds and the money in their custody or possession, eligible for investment, in bonds or notes secured by mortgages insured by the Federal Housing Administrator, in debentures issued by the Federal Housing Administrator, and in securities issued by national mortgage associations.
Source
Laws 1935, c. 17, § 2, p. 92;
Laws 1937, c. 13, § 2, p. 117;
C.S.Supp.,1941, § 8-502;
R.S.1943, § 8-712;
Laws 1986, LB 909, § 10.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-713 - Investments in National Housing Act securities; general laws not applicable.

8-713.
Investments in National Housing Act securities; general laws not applicable.
No law of this state requiring security upon which loans or investments may be made, or prescribing the nature, amount or form of such security, or prescribing or limiting interest rates upon loans or investments, or prescribing or limiting the periods for which loans or investments may be made, shall be deemed to apply to loans or investments made pursuant to sections 8-711 and 8-712.
Source
Laws 1935, c. 17, § 3, p. 93;
C.S.Supp.,1941, § 8-503;
R.S.1943, § 8-713.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-714 - Federal Home Loan Bank; members authorized.

8-714.
Federal Home Loan Bank; members authorized.
In addition to all other powers and investments authorized by law, every institution incorporated under the laws of this state and eligible for membership in a Federal Home Loan Bank may become a member of a Federal Home Loan Bank, as permitted by and in accordance with the Federal Home Loan Bank Act.
Source
Laws 1937, c. 51, § 1, p. 214;
C.S.Supp.,1941, § 8-601;
R.S.1943, § 8-714;
Laws 1991, LB 77, § 1.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-715 - Federal Home Loan Bank members; powers.

8-715.
Federal Home Loan Bank members; powers.
In addition to all other powers and investments authorized by law, any institution, upon becoming a member of a Federal Home Loan Bank, may (1) purchase stock in, (2) obtain advances from, (3) pledge collateral to, and (4) perform such acts which are necessary and required to make available to it all the advantages and privileges offered by such Federal Home Loan Bank to the extent provided by and in accordance with the Federal Home Loan Bank Act.
Source
Laws 1937, c. 51, § 2, p. 214;
C.S.Supp.,1941, § 8-602;
R.S.1943, § 8-715;
Laws 1991, LB 77, § 2.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-716 - Federal Home Loan Bank members; tax exemption prohibited.

8-716.
Federal Home Loan Bank members; tax exemption prohibited.
No institution incorporated under the laws of this state which is or becomes a member of a Federal Home Loan Bank shall be exempt from any taxes of this state, including any contributions required to be paid under sections 48-648 to 48-654.
Source
Laws 1937, c. 51, § 3, p. 214;
C.S.Supp.,1941, § 8-603;
R.S.1943, § 8-716;
Laws 1991, LB 77, § 3;
Laws 2017, LB172, § 1.