reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-148.08 - Bank subsidiary; examination and regulation.

8-148.08.
Bank subsidiary; examination and regulation.
A bank subsidiary is subject to examination and regulation by the department to the same extent as its bank shareholder, shareholders, member, members, investor, or investors.
Source
Laws 1995, LB 384, § 4;
Laws 2017, LB140, § 50;
Laws 2022, LB707, § 14.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-148.09 - Bank; financial institution; merger, acquisition, or asset acquisition; transactions authorized.

8-148.09.
Bank; financial institution; merger, acquisition, or asset acquisition; transactions authorized.
(1) Any bank may subscribe to, invest, buy, and own stock of another financial institution if the transaction is part of the merger or consolidation of the other financial institution with the acquiring bank, or the acquisition of substantially all of the assets of the other financial institution by the acquiring bank, and if:
(a) The merger, consolidation, or asset acquisition occurs on the same day as the acquisition of the shares of the other financial institution and the other financial institution will not be operated by the acquiring bank as a separate entity; and
(b) The transaction receives the prior approval of the director.
(2) Any bank may subscribe to, invest, buy, and own stock of a company controlling another financial institution if the transaction is part of (a) the merger or consolidation of the company controlling the other financial institution with the company controlling the acquiring bank, or the acquisition of substantially all of the assets of the company controlling the other financial institution by the company controlling the acquiring bank, and (b) the merger or consolidation of the other financial institution with the acquiring bank, or the acquisition of substantially all of the assets of the other financial institution by the acquiring bank, and if:
(i) The merger, consolidation, or asset acquisition occurs on the same day as the acquisition of the shares of the company controlling the other financial institution, and neither the company controlling the other financial institution nor the other financial institution will be operated by the acquiring bank as a separate entity; and
(ii) The transaction receives the prior approval of the director.
(3) Any bank that acquires stock of another financial institution or company controlling another financial institution pursuant to this section shall not be deemed to be a bank holding company for purposes of the Nebraska Bank Holding Company Act of 1995, so long as the conditions of subdivision (1)(a) or (2)(b)(i) of this section, as applicable, are satisfied.
(4) For purposes of this section, financial institution means a bank, savings bank, credit card bank, savings and loan association, digital asset depository institution, building and loan association, trust company, or credit union organized under the laws of any state or organized under the laws of the United States.
Source
Laws 2017, LB140, § 51;
Laws 2021, LB649, § 37.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-148.10 - Digital asset depository institution; investment; conditions.

8-148.10.
Digital asset depository institution; investment; conditions.
Any financial institution as defined in section 8-3003 other than a digital asset depository institution as defined in section 8-3003 may invest not more than ten percent of its capital and surplus either in stock of a corporation operating a digital asset depository institution or directly, alone, or with others, in a digital asset depository institution. With written approval of the director, such additional percentage of its capital and surplus may be so invested as the director shall approve. Such investment is not subject to sections 8-148, 8-149, and 8-150.
Source
Laws 2021, LB649, § 39.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-149 - Banks; investment in bank premises or holding corporations; loans upon security of stock of holding corporation; written approval of Director of Banking and Finance required; when.

8-149.
Banks; investment in bank premises or holding corporations; loans upon security of stock of holding corporation; written approval of Director of Banking and Finance required; when.
(1) No bank shall, without the written approval of the director, (a) invest in bank premises or in the stock, bonds, debentures, or other such obligations of any corporation holding the premises of such bank, or (b) make loans to or upon the security of the stock of any such corporation, if the aggregate of all such investments and loans will exceed the paid-up capital stock, surplus, and capital notes and debentures of such bank. Stock held as authorized by this section shall not be subject to the provisions of section 8-148.
(2) Investments by a bank in bank premises necessary for the transaction of its business shall include, but not be limited to:
(a) Premises that are owned and occupied, or to be occupied if under construction, by the bank, its branches, or its consolidated subsidiaries;
(b) Real estate acquired and intended, in good faith, for use in future expansions;
(c) Parking facilities that are used by customers or employees of the bank, its branches, or its consolidated subsidiaries;
(d) Residential property for the use of officers or employees of the bank, its branches, or its consolidated subsidiaries who are:
(i) Located in areas where suitable housing at a reasonable price is not readily available; or
(ii) Temporarily assigned to a foreign country, including foreign nationals temporarily assigned to the United States; and
(e) Property for the use of officers, employees, or customers of the bank, its branches, and its consolidated subsidiaries or for the temporary lodging of such persons in areas where suitable commercial lodging is not readily available, if the purchase and operation of the property qualifies as a deductible business expense for federal tax purposes.
Source
Laws 1963, c. 29, § 49, p. 155;
Laws 1973, LB 164, § 15;
Laws 1997, LB 137, § 5;
Laws 2007, LB124, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-150 - Banks; real estate; power to acquire and convey; limitations and conditions.

8-150.
Banks; real estate; power to acquire and convey; limitations and conditions.
(1) Any bank may purchase, hold, and convey real estate that is (a) acquired pursuant to section 8-149, (b) conveyed to it for debts due the bank, or (c) purchased at sale under judgments, decrees, deeds of trust, or mortgages held by the bank or purchased to secure debts due to it upon its securities, but the bank at such sale shall not bid a larger amount than required to satisfy such judgments or decrees with costs. Real estate acquired in satisfaction of debts or at a sale upon judgments, decrees, deeds of trust, or mortgages shall be sold at private or public sale within five years unless authority shall be given in writing by the director to hold it for a longer period.
(2) The total amount of real estate held by any bank for purposes of subdivisions (1)(b) and (c) of this section shall not be entered on the records of the bank as an asset at a value greater than (a) the unpaid balance of the debts due the bank plus its out-of-pocket expenses incurred in acquiring clear title, (b) its judgments or decrees with costs, or (c) the appraised value of such real estate, whichever is less, except that a bank may expend funds as necessary for repairs or to complete a project in order to market such property.
(3) A bank may utilize property acquired by it under subdivisions (1)(b) and (c) of this section in any manner authorized by the director.
Source
Laws 1909, c. 10, § 29, p. 80;
R.S.1913, § 308;
Laws 1919, c. 190, tit. V, art. XVI, § 29, p. 697;
C.S.1922, § 8009-a;
Laws 1925, c. 30, § 10, p. 128;
C.S.1929, § 8-145;
Laws 1933, c. 18, § 29, p. 149;
C.S.Supp.,1941, § 8-145;
R.S.1943, § 8-145;
Laws 1959, c. 15, § 13, p. 137;
R.R.S.1943, § 8-145;
Laws 1963, c. 29, § 50, p. 155;
Laws 1985, LB 653, § 5;
Laws 2017, LB140, § 52.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-152 - Banks; loans on real estate; authorized.

8-152.
Banks; loans on real estate; authorized.
A bank may make loans secured by real estate or may participate with other financial institutions in such loans whether such participation occurs at the inception of the loan or at any time after the loan was made.
Source
Laws 1963, c. 29, § 52, p. 156;
Laws 1965, c. 28, § 4, p. 202;
Laws 1972, LB 1226, § 1;
Laws 1973, LB 164, § 16;
Laws 1974, LB 845, § 2;
Laws 1979, LB 220, § 6;
Laws 1982, LB 779, § 3;
Laws 1994, LB 979, § 5;
Laws 2017, LB140, § 53.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-153 - Checks; preprinted information; cleared at par; exception.

8-153.
Checks; preprinted information; cleared at par; exception.
All checks, unless sent to banks as special collection items, shall have preprinted the magnetically encoded routing and transit symbol of the bank and either the name of the maker or the magnetically encoded account number of the maker. Except for checks sent to banks as special collection items or checks presented for payment by the payee in person, all checks drawn on any bank shall be cleared at par by the bank on which they are drawn. The term at par applies only to the settlement of checks between collecting and paying or remitting banks and does not apply to or prohibit a bank from deducting a fee from the face amount of the check for paying the check if the check is presented to the bank by the payee in person.
Source
Laws 1945, c. 11, § 1, p. 110;
R.R.S.1943, § 8-163.01;
Laws 1963, c. 29, § 53, p. 157;
Laws 1979, LB 269, § 1;
Laws 2015, LB155, § 3;
Laws 2017, LB140, § 54.
Annotations
Special collection items are those which in fact actually require the employment of unusual and individual treatment. Placek v. Edstrom, 151 Neb. 225, 37 N.W.2d 203 (1949).
Act sustained as constitutional. Placek v. Edstrom, 148 Neb. 79, 26 N.W.2d 489 (1947).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-158 - Banks; appointment as personal representative or special administrator; authorized.

8-158.
Banks; appointment as personal representative or special administrator; authorized.
Any bank may be appointed and shall have power to act, either by itself or jointly with any natural person or persons, as personal representative of the estate of any deceased person or as special administrator of the estate of any deceased person under the appointment of a court of record having jurisdiction of the estate of such deceased person. When a bank is so appointed and an oath is required to be made, whether in order to qualify or for any other purpose, the president, vice president, or secretary of the bank may, on behalf of the bank, make and subscribe to the required oath.
Source
Laws 1959, c. 18, § 1, p. 142;
Laws 1961, c. 14, § 3, p. 107;
Laws 1961, c. 16, § 1, p. 116;
R.R.S.1943, § 8-1,117;
Laws 1963, c. 29, § 58, p. 158;
Laws 1973, LB 164, § 17;
Laws 1986, LB 909, § 1;
Laws 2017, LB140, § 57.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-159 - Banks; trust department; authorization.

8-159.
Banks; trust department; authorization.
Any bank, having adopted or amended its articles of incorporation to authorize the conduct of a trust business as defined in the Nebraska Trust Company Act, may be further chartered by the director to transact a trust company business in a trust department in connection with such bank.
Source
Laws 1959, c. 19, § 1, p. 143;
Laws 1961, c. 14, § 4, p. 107;
R.R.S.1943, § 8-1,118;
Laws 1963, c. 29, § 59, p. 159;
Laws 1993, LB 81, § 9;
Laws 1998, LB 1321, § 10.
Cross References
Nebraska Trust Company Act, see section 8-201.01.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-160 - Banks; trust department; amendment of charter; supervision.

8-160.
Banks; trust department; amendment of charter; supervision.
The director has the authority to issue to banks amendments to their charters of authority to transact trust business as defined in the Nebraska Trust Company Act and has general supervision and control over such trust department of banks.
Source
Laws 1959, c. 19, § 2, p. 143;
Laws 1961, c. 14, § 5, p. 108;
R.R.S.1943, § 8-1,119;
Laws 1963, c. 29, § 60, p. 159;
Laws 1993, LB 81, § 10;
Laws 1998, LB 1321, § 11;
Laws 2017, LB140, § 58.
Cross References
Nebraska Trust Company Act, see section 8-201.01.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-161 - Banks; trust department; application; investigation; authorization.

8-161.
Banks; trust department; application; investigation; authorization.
The director, before granting to any bank the right to operate a trust department, shall require such bank to make an application for amendment of its charter, setting forth such information as the director may require. If, upon investigation, the director is satisfied that the trust department of the bank requesting such amendment will be operated by officers of integrity and responsibility, the department shall, with such additional capital as the director shall require, issue to such bank an amendment to its charter, entitling it to operate a trust department and entitling it to transact the business provided for in the Nebraska Trust Company Act.
Source
Laws 1959, c. 19, § 3, p. 144;
Laws 1961, c. 14, § 6, p. 108;
R.R.S.1943, § 8-1,120;
Laws 1963, c. 29, § 61, p. 159;
Laws 1993, LB 81, § 11;
Laws 1998, LB 1321, § 12;
Laws 2017, LB140, § 59.
Cross References
Nebraska Trust Company Act, see section 8-201.01.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-162 - Banks; trust department; separation from other departments; powers; duties.

8-162.
Banks; trust department; separation from other departments; powers; duties.
The trust department of a bank when chartered under sections 8-159 to 8-161 shall be separate and apart from every other department of the bank and shall have all of the powers, duties, and obligations of a trust company provided in the Nebraska Trust Company Act.
Source
Laws 1959, c. 19, § 4, p. 144;
Laws 1961, c. 14, § 7, p. 108;
R.R.S.1943, § 8-1,121;
Laws 1963, c. 29, § 62, p. 159;
Laws 1993, LB 81, § 12;
Laws 1998, LB 1321, § 13.
Cross References
Nebraska Trust Company Act, see section 8-201.01.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-162.01 - Banks; trust department; conduct of business; location.

8-162.01.
Banks; trust department; conduct of business; location.
Any bank authorized to transact a trust company business in a trust department pursuant to sections 8-159 to 8-162 may conduct such trust company business at the office of any bank which is a subsidiary of the same bank holding company as the authorized bank.
Source
Laws 1993, LB 81, § 13.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-162.02 - Bank; fiduciary account controlled by trust department; collateral; public funds exempt.

8-162.02.
Bank; fiduciary account controlled by trust department; collateral; public funds exempt.
(1) A bank may deposit or have on deposit funds of a fiduciary account controlled by the bank's trust department unless prohibited by applicable law.
(2) To the extent that the funds are awaiting investment or distribution and are not insured or guaranteed by the Federal Deposit Insurance Corporation, a bank shall set aside collateral as security under the control of appropriate fiduciary officers and bank employees. The bank shall place pledged assets of fiduciary accounts in the joint custody or control of not fewer than two of the fiduciary officers or employees of the bank designated for that purpose by the board of directors. The bank may maintain the investments of a fiduciary account off-premises if consistent with applicable law and if the bank maintains adequate safeguards and controls. The market value of the collateral shall at all times equal or exceed the amount of the uninsured or unguaranteed fiduciary funds awaiting investment or distribution.
(3) A bank may satisfy the collateral requirements of this section with any of the following: (a) Direct obligations of the United States or other obligations fully guaranteed by the United States as to principal and interest; (b) readily marketable securities of the classes in which banks, trust companies, or other corporations exercising fiduciary powers are permitted to invest fiduciary funds under applicable state law; and (c) surety bonds, to the extent the surety bonds provide adequate security, unless prohibited by applicable law.
(4) A bank, acting in its fiduciary capacity, may deposit funds of a fiduciary account that are awaiting investment or distribution with an affiliated insured depository institution unless prohibited by applicable law. The bank may set aside collateral as security for a deposit by or with an affiliate of fiduciary funds awaiting investment or distribution, as it would if the deposit was made at the bank, unless such action is prohibited by applicable law.
(5) Public funds deposited in and held by a bank are not subject to this section.
(6) This section does not apply to a fiduciary account in which, pursuant to the terms of the governing instrument, full investment authority is retained by the grantor or is vested in persons or entities other than the bank and the bank, acting in its fiduciary capacity, does not have the power to exert any influence over investment decisions.
Source
Laws 2009, LB327, § 2;
Laws 2014, LB788, § 2;
Laws 2017, LB140, § 60.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-163 - Dividends; withdrawal of capital or surplus prohibited; not made; when.

8-163.
Dividends; withdrawal of capital or surplus prohibited; not made; when.
(1) No bank shall withdraw or permit to be withdrawn, either in the form of dividends or otherwise, any part of its capital or surplus without the written permission of the director. If losses have at any time been sustained equal to or exceeding the retained net income, no dividends shall be made without the written permission of the director. No dividend shall be made by any bank in an amount greater than the retained net income without the written permission of the director.
(2) As used in this section, retained net income means the sum of the bank's net income, as reported in its most recent report of condition and income, less any dividends declared during such year, for the current and two prior calendar years. Retained net income is reduced by any net losses incurred during that year not already reported in net income and by any transfers out of undivided profits to fund the retirement of preferred stock. Transfers out of undivided profits to the surplus account will not be treated as reductions to retained net income.
Source
Laws 1909, c. 10, § 34, p. 82;
R.S.1913, § 313;
Laws 1919, c. 190, tit. V, art. XVI, § 34, p. 699;
C.S.1922, § 8014;
C.S.1929, § 8-153;
Laws 1933, c. 18, § 34, p. 152;
C.S.Supp.,1941, § 8-153;
R.S.1943, § 8-156;
Laws 1963, c. 29, § 63, p. 160;
Laws 1988, LB 996, § 3;
Laws 2009, LB327, § 5;
Laws 2017, LB140, § 61;
Laws 2021, LB363, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-164 - Dividends declared; conditions.

8-164.
Dividends declared; conditions.
The board of directors of any bank may declare dividends on its capital stock but only under the following conditions:
(1) All bad debts required to be charged off by either the board of directors or the department shall first have been charged off. All debts due any bank on which interest is past due and unpaid for a period of six months, unless such debts are well secured or in the process of collection, shall be considered bad debts within the meaning of this section; and
(2) Twenty percent of the net profits accumulated since the preceding dividend shall first have been carried to the surplus fund unless such surplus fund equals or exceeds the amount of the paid-up capital stock.
Source
Laws 1909, c. 10, § 28, p. 79;
R.S.1913, § 307;
Laws 1919, c. 190, tit. V, art. XVI, § 28, p. 696;
C.S.1922, § 8009;
C.S.1929, § 8142;
Laws 1930, Spec. Sess., c. 6, § 11, p. 31;
Laws 1933, c. 18, § 27, p. 149;
Laws 1935, c. 10, § 1, p. 78;
Laws 1937, c. 16, § 1, p. 122;
C.S.Supp.,1941, § 8-142;
Laws 1943, c. 19, § 4, p. 104;
R.S.1943, § 8-143;
Laws 1951, c. 10, § 1, p. 82;
Laws 1953, c. 7, § 1, p. 71;
R.R.S.1943, § 8-143;
Laws 1963, c. 29, § 64, p. 160;
Laws 1985, LB 653, § 6;
Laws 1988, LB 996, § 4;
Laws 1994, LB 979, § 6;
Laws 2017, LB140, § 62.
Annotations
Stockholders ordinarily are entitled to share equally in the distribution of dividends, which should go to the record owners of the stock when such dividends are declared, but this may be varied by agreement between the stockholders, and a purchaser of corporate stock, with notice of such an agreement, takes title to the stock subject thereto. Empson v. Deuel County State Bank, 134 Neb. 597, 279 N.W. 293 (1938).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-165 - Losses; charged to surplus fund; restoration of surplus fund; effect on dividends.

8-165.
Losses; charged to surplus fund; restoration of surplus fund; effect on dividends.
Any losses sustained by any bank in excess of its undivided profits shall be charged to its surplus fund. Its surplus fund shall thereafter be reimbursed from the earnings, and no dividends shall thereafter be declared or paid by any such bank, without the written permission of the director, until such surplus fund shall be fully restored to its former amount.
Source
Laws 1923, c. 191, § 38, p. 458;
C.S.1929, § 8-144;
R.S.1943, § 8-144;
Laws 1949, c. 8, § 1, p. 68;
R.R.S.1943, § 8-144;
Laws 1963, c. 29, § 65, p. 160;
Laws 1988, LB 996, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-166 - Banks; reports to department; form; number required; verification; waiver.

8-166.
Banks; reports to department; form; number required; verification; waiver.
(1) Every bank shall make to the department not less than two reports during each year according to the form which may be prescribed by the department, which report shall be certified as correct, in the manner prescribed by the department, by the president, vice president, cashier, or assistant cashier and in addition by two members of the board of directors.
(2) The director may waive the requirements of this section if a bank files its reports electronically with the Federal Deposit Insurance Corporation, the Federal Reserve Board, or an electronic collection agent of the Federal Deposit Insurance Corporation or the Federal Reserve Board.
Source
Laws 1909, c. 10, § 17, p. 75;
R.S.1913, § 296;
Laws 1919, c. 190, tit. V, art. XVI, § 17, p. 692;
C.S.1922, § 7998;
C.S.1929, § 8-129;
Laws 1933, c. 18, § 19, p. 144;
Laws 1941, c. 10, § 1, p. 80;
C.S.Supp.,1941, § 8-129;
R.S.1943, § 8-131;
Laws 1957, c. 11, § 1, p. 134;
Laws 1961, c. 15, § 2, p. 111;
R.R.S.1943, § 8-131;
Laws 1963, c. 29, § 66, p. 161;
Laws 1997, LB 137, § 7;
Laws 2017, LB140, § 63.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-167 - Banks; reports to department; contents.

8-167.
Banks; reports to department; contents.
Each report required by section 8-166 shall exhibit in detail and under appropriate headings the resources and liabilities of the bank at the close of business on any past day specified by the call for report and shall be submitted to the department within thirty days, or as may be required by the department, after the receipt of requisition for the report.
Source
Laws 1909, c. 10, § 18, p. 75;
R.S.1913, § 297;
Laws 1919, c. 190, tit. V, art. XVI, § 18, p. 693;
C.S.1922, § 7999;
C.S.1929, § 8-130;
Laws 1933, c. 18, § 20, p. 145;
Laws 1941, c. 10, § 2, p. 81;
C.S.Supp.,1941, § 8-130;
R.S.1943, § 8-132;
Laws 1963, c. 29, § 67, p. 161;
Laws 1978, LB 641, § 2;
Laws 1986, LB 960, § 1;
Laws 2017, LB140, § 64;
Laws 2020, LB909, § 6.
Annotations
Purpose of Legislature was to require a full statement of the transactions of the officers concerning the business done by them in their official capacities as officers and agents of the bank. Wentz v. State, 108 Neb. 597, 188 N.W. 467 (1922).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-168 - Banks; special reports to director.

8-168.
Banks; special reports to director.
A bank shall furnish special reports as may be required by the director to enable the department to obtain full and complete knowledge of the condition of the bank.
Source
Laws 1909, c. 10, § 19, p. 76;
R.S.1913, § 298;
Laws 1919, c. 190, tit. V, art. XVI, § 19, p. 693;
C.S.1922, § 8000;
C.S.1929, § 8-131;
Laws 1933, c. 18, § 21, p. 145;
C.S.Supp.,1941, § 8-131;
R.S.1943, § 8-133;
Laws 1963, c. 29, § 68, p. 161;
Laws 2017, LB140, § 66.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-169 - Banks; reports; published statements; failure to make; penalty, recovery.

8-169.
Banks; reports; published statements; failure to make; penalty, recovery.
Any bank that fails, neglects, or refuses to make or furnish any report or any published statement required by the Nebraska Banking Act shall pay to the department a penalty of fifty dollars for each day such failure shall continue, unless the director shall extend the time for filing such report.
Source
Laws 1909, c. 10, § 20, p. 76;
R.S.1913, § 299;
Laws 1919, c. 190, tit. V, art. XVI, § 20, p. 693;
C.S.1922, § 8001;
C.S.1929, § 8-132;
Laws 1933, c. 18, § 22, p. 146;
C.S.Supp.,1941, § 8-132;
R.S.1943, § 8-134;
R.R.S.1943, § 8-134;
Laws 1963, c. 29, § 59, p. 162;
Laws 1973, LB 164, § 18;
Laws 1998, LB 1321, § 14;
Laws 2017, LB140, § 67.
Annotations
This section is referred to as providing penalty in contrasting this section with another section of the banking act which failed to provide a penalty, and holding that the failure to provide a penalty disclosed legislative intent that statute should be directory rather than mandatory. State ex rel. Davis v. Farmers State Bank of Winside, 112 Neb. 597, 200 N.W. 173 (1924).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-170 - Records and files; time required to be kept; destroy, when.

8-170.
Records and files; time required to be kept; destroy, when.
(1) Banks shall not be required to preserve or keep their records or files or copies thereof for a period longer than six years next after the first day of January of the year following the time of the making or filing of such records or files except as provided in subsection (2) of this section.
(2)(a) Ledger sheets showing unpaid balances in favor of depositors of banks shall not be destroyed unless the bank has remitted such unpaid balances to the State Treasurer in accordance with the Uniform Disposition of Unclaimed Property Act. Banks shall retain a record of every such remittance for ten years following the date of such remittance.
(b) Corporate records that relate to the corporation or the corporate existence of the bank shall not be destroyed.
(3) All records or files or copies thereof shall be readable or legible.
Source
Laws 1949, c. 10, § 1, p. 71;
R.R.S.1943, § 8-1,111;
Laws 1963, c. 29, § 70, p. 162;
Laws 1999, LB 396, § 10;
Laws 2017, LB140, § 68.
Cross References
Uniform Disposition of Unclaimed Property Act, see section 69-1329.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-171 - Records; destruction; liability; excuse for failure to produce.

8-171.
Records; destruction; liability; excuse for failure to produce.
No liability shall accrue against any bank destroying any records or files in accordance with sections 8-170 to 8-174. In any cause or proceedings in which any such records or files may be called into question or be demanded of the bank or any officer or employee of the bank, a showing that such records or files have been destroyed in accordance with the terms of sections 8-170 to 8-174 shall be a sufficient excuse for the failure to produce such records or files.
Source
Laws 1949, c. 10, § 2, p. 71;
R.R.S.1943, § 8-1,112;
Laws 1963, c. 29, § 71, p. 162;
Laws 2017, LB140, § 69.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-173 - Actions against bank on claims inconsistent with records; accrual of cause of action; limitations.

8-173.
Actions against bank on claims inconsistent with records; accrual of cause of action; limitations.
All causes of action against a bank based upon a claim or claims inconsistent with an entry or entries in any bank record or ledger, made in the regular course of business, shall accrue one year after the date of such entry or entries. No action founded upon such a cause shall be brought after the expiration of five years from the date of such accrual.
Source
Laws 1949, c. 10, § 4, p. 71;
Laws 1951, c. 13, § 1, p. 88;
R.R.S.1943, § 8-1,114;
Laws 1963, c. 29, § 73, p. 163;
Laws 2017, LB140, § 70.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-174 - Records and files; destruction; applicable to national banks.

8-174.
Records and files; destruction; applicable to national banks.
Sections 8-170 to 8-174, so far as may be permitted by the laws of the United States, shall apply to the records and files of national banks.
Source
Laws 1949, c. 10, § 5, p. 72;
R.R.S.1943, § 8-1,115;
Laws 1963, c. 29, § 74, p. 163;
Laws 2017, LB140, § 71.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-175 - Banks; false entry or statement; other offenses relating to books and records; penalty.

8-175.
Banks; false entry or statement; other offenses relating to books and records; penalty.
Any person who willfully and knowingly subscribes to, or makes, or causes to be made, any false statement or false entry in the books of any bank, knowingly subscribes to or exhibits false papers with the intent to deceive any person or persons authorized to examine into the affairs of any such bank, makes, states, or publishes any false statement of the amount of the assets or liabilities of any such bank, fails to make true and correct entry in the books and records of such bank of its business and transactions in the manner and form prescribed by the department, mutilates, alters, destroys, secretes, or removes any of the books or records of such bank without the written consent of the director, or makes, states, or publishes any false statement of the amount of the assets or liabilities of any such bank, is guilty of a Class III felony.
Source
Laws 1909, c. 10, § 21, p. 77;
R.S.1913, § 300;
Laws 1919, c. 190, tit. V, art. XVI, § 21, p. 694;
C.S.1922, § 8002;
C.S.1929, § 8-133;
Laws 1933, c. 18, § 23, p. 146;
C.S.Supp.,1941, § 8-133;
R.S.1943, § 8-135;
Laws 1963, c. 29, § 75, p. 163;
Laws 1977, LB 40, § 51;
Laws 2017, LB140, § 72.
Annotations
Crime of making a false statement of condition of a bank with intent to deceive was a felony. State v. Hylton, 175 Neb. 828, 124 N.W.2d 230 (1963).
Mere making of false report is not sufficient to sustain conviction under this section, but in addition intent to deceive must be charged and proved. Foreman v. State, 127 Neb. 824, 257 N.W. 237 (1934).
In prosecution hereunder it is not essential to the commission of the offense that the statement be made in the presence of two directors of bank. Flannigan v. State, 124 Neb. 748, 248 N.W. 92 (1933).
Intent to deceive is an element of the felony described herein. Foreman v. State, 124 Neb. 74, 245 N.W. 422 (1932), 85 A.L.R. 821 (1932).
This section applies to minutes of meetings of board of directors. Kienke v. Kirsch, 121 Neb. 688, 238 N.W. 33 (1931).
To be guilty under this section, bank officer must willfully and knowingly make the entry, the entry must be false, and it must have been made with intent to deceive. Spearman v. State, 120 Neb. 799, 235 N.W. 465 (1931).
Omission by bank officer to include in report to banking department a certificate of deposit caused to be issued by him to pay a personal obligation is making false statement under this section. Wentz v. State, 108 Neb. 597, 188 N.W. 467 (1922).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-177 - Banks; consolidation; approval required; creditors' claims.

8-177.
Banks; consolidation; approval required; creditors' claims.
Any bank, which is in good faith winding up its business for the purpose of consolidating with some other financial institution, may transfer its resources and liabilities to the financial institution with which it is in the process of consolidation, but no consolidation shall be made without the consent of the director, nor shall such consolidation operate to defeat the claim of any creditor or hinder any creditor in the collection of his or her debt against any such bank or financial institution.
Source
Laws 1909, c. 10, § 41, p. 86;
R.S.1913, § 320;
Laws 1919, c. 190, tit. V, art. XVI, § 41, p. 701;
C.S.1922, § 8021;
C.S.1929, § 8-160;
Laws 1933, c. 18, § 36, p. 154;
C.S.Supp.,1941, § 8-160;
R.S.1943, § 8-164;
Laws 1963, c. 29, § 77, p. 164;
Laws 2017, LB140, § 73.
Annotations
An indebtedness of a bank incurred in an attempted liquidation in violation of this section is ultra vires and does not furnish the foundation for stockholders' double liability. Luikart v. Jones, 138 Neb. 472, 293 N.W. 346 (1940).
This section does not, of itself, make a consolidated bank liable for debts of old banks. Wilson v. Continental National Bank, 130 Neb. 614, 266 N.W. 68 (1936).
Two state banks cannot consolidate without consent of banking department, and sale of entire capital stock to stockholder, president and director of rival bank is not necessarily a consolidation within the meaning of this section. Cooper v. Bane, 110 Neb. 83, 196 N.W. 119 (1923).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-178 - National bank; reorganization as state bank; authorization; vote required; trust company business; conversion; public hearing; when.

8-178.
National bank; reorganization as state bank; authorization; vote required; trust company business; conversion; public hearing; when.
(1) Any national bank located and doing business within the State of Nebraska which follows the procedure prescribed by the laws of the United States may convert into a state bank or merge or consolidate with a state bank upon a vote of the holders of at least two-thirds of the capital stock of such state bank when the resulting state bank meets the requirements of the state law as to the formation of a new state bank. If the national bank has been further chartered to conduct a trust company business within a trust department of the bank, the trust department to be converted shall meet the requirements of state law as to the formation of a trust company business within a trust department of a state bank.
(2) The public hearing requirement of subdivision (1) of section 8-115.01 and the rules and regulations of the director shall be required only if (a) after publishing a notice of the proposed conversion in a newspaper of general circulation in the county where the main office of the national bank is located, the expense of which shall be paid by the applicant bank, the director receives an objection to the conversion within fifteen days after such publication or (b) in the discretion of the director, the condition of the bank warrants a hearing. If the national bank has been further chartered to conduct a trust company business within a trust department of the bank, the notice of the proposed conversion of the national bank shall include notice that the trust department will be converted in connection with the national bank conversion.
Source
Laws 1909, c. 11, § 1, p. 96;
R.S.1913, § 343;
Laws 1919, c. 190, tit. V, art. XVI, § 63, p. 711;
C.S.1922, § 8043;
C.S.1929, § 8-161;
Laws 1933, c. 18, § 37, p. 154;
C.S.Supp.,1941, § 8-161;
R.S.1943, § 8-165;
Laws 1951, c. 11, § 1(1), p. 84;
R.R.S.1943, § 8-165;
Laws 1963, c. 29, § 78, p. 165;
Laws 1995, LB 599, § 3;
Laws 2002, LB 957, § 5;
Laws 2006, LB 876, § 10;
Laws 2017, LB140, § 74.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-179 - National bank; reorganization as state bank; procedure; trust company business; charter.

8-179.
National bank; reorganization as state bank; procedure; trust company business; charter.
(1) The resulting state bank under section 8-178 shall file a statement with the department, under the oath of its president or cashier, (a) showing that the procedure prescribed by the laws of the United States and by this state have been followed, (b) setting forth in the statement the matter prescribed by sections 8-1901 to 8-1903, and (c) if the national bank has been further chartered to conduct a trust company business within a trust department of the bank, setting forth the matter prescribed by sections 8-159 to 8-162.01. Upon payment of all applicable fees, the department shall issue to such corporation, a charter to transact the business provided for in its articles of incorporation, and, if applicable, a charter to conduct a trust company business within a trust department of the bank.
(2) The department may accept good assets of any such national bank, worth not less than par, in lieu of the payment otherwise provided by law for the stock of such resulting bank. When the parties requesting the conversion, merger, or consolidation are officers or directors of either the national bank or of the state bank, they shall be accepted without investigation as parties of integrity and responsibility. Unless the resulting bank is at a different location than the former national or state bank, the department shall recognize the public necessity, convenience, and advantage of permitting the resulting bank and, if applicable, the trust company business within a trust department of the bank, to engage in business.
Source
Laws 1951, c. 11, § 1(2), p. 84;
R.R.S.1943, § 8-165.01;
Laws 1963, c. 29, § 79, p. 165;
Laws 1995, LB 384, § 5;
Laws 2006, LB 876, § 11;
Laws 2017, LB140, § 75.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-180 - State bank; reorganization as national bank; vote required.

8-180.
State bank; reorganization as national bank; vote required.
Any state bank, without the approval of any state authority, may, upon a vote of the holders of at least two-thirds of its capital stock, convert into and merge or consolidate with a national bank as provided by federal law.
Source
Laws 1951, c. 11, § 1(3), p. 85;
R.R.S.1943, § 8-165.02;
Laws 1963, c. 29, § 80, p. 165;
Laws 2017, LB140, § 76.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-181 - National or state bank; conversion, merger, or consolidation; resulting bank; considered same corporate entity; termination of franchise.

8-181.
National or state bank; conversion, merger, or consolidation; resulting bank; considered same corporate entity; termination of franchise.
When a national bank has converted into or merged or consolidated with a state bank, or a state bank has converted into or merged or consolidated with a national bank, the resulting bank shall be considered the same business and corporate entity as the former bank or banks and as a continuation thereof, and the ownership and title to all properties and assets and the obligations and liabilities of the converting, merging, or consolidating banks shall automatically pass to and become the properties and assets and the obligations and liabilities of the resulting bank. Upon the conversion, merger, or consolidation, when the resulting bank is a national bank, the franchise of the converting, merging, or consolidating state bank shall automatically terminate.
Source
Laws 1951, c. 11, § 1(4), p. 85;
R.R.S.1943, § 8-165.03;
Laws 1963, c. 29, § 81, p. 166.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-182 - State bank; conversion, merger, or consolidation with a national bank; objecting stockholders; stock; payment.

8-182.
State bank; conversion, merger, or consolidation with a national bank; objecting stockholders; stock; payment.
The owner of shares of a state bank which were voted against a conversion into or a merger or consolidation with a national bank under section 8-181 shall be entitled to receive, from the assets of such state bank, the value of such stock in cash, when the conversion, merger, or consolidation becomes effective, upon written demand made to the resulting bank at any time within thirty days after the effective date of the conversion, merger, or consolidation, accompanied by the surrender of the stock certificates. The value of such shares shall be determined, as of the date of the shareholders' meeting approving the conversion, merger, or consolidation, by three appraisers, one to be selected by the owners of two-thirds of the shares voting against the conversion, merger, or consolidation, one by the board of directors of the resulting state bank, and the third by the two so chosen. If the appraisal is not completed within sixty days after the conversion, merger, or consolidation becomes effective the department shall cause an appraisal to be made and such appraisal shall then govern. The expenses of appraisal shall be paid by the resulting bank.
Source
Laws 1951, c. 11, § 1(5), p. 85;
R.R.S.1943, § 8-165.04;
Laws 1963, c. 29, § 82, p. 166;
Laws 2017, LB140, § 77.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-183 - National or state bank; conversion, merger, or consolidation; resulting bank; assets; valuation.

8-183.
National or state bank; conversion, merger, or consolidation; resulting bank; assets; valuation.
Without approval by the director, no asset shall be carried on the books of the bank resulting pursuant to section 8-181, when the resulting bank is a state bank, at a valuation higher than that on the books of the converting, merging, or consolidating bank at the time of the examination, by a state or national bank examiner, last occurring before the effective date of the conversion, merger, or consolidation.
Source
Laws 1951, c. 11, § 1(6), p. 86;
R.R.S.1943, § 8-165.05;
Laws 1963, c. 29, § 83, p. 167;
Laws 2017, LB140, § 78.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-183.01 - State or federal savings association; conversion to state bank; plan of conversion; procedure.

8-183.01.
State or federal savings association; conversion to state bank; plan of conversion; procedure.
(1) Any state or federal savings association, whether formed as a mutual association or a capital stock association, may apply to the director to convert to a state bank.
(2) Any savings association seeking to convert its form of organization 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 to vote.
(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 director. The director shall approve the plan of conversion if he or she finds, after appropriate investigation, that:
(a) The plan of conversion is fair and equitable;
(b) The interests of the applicant, its members or shareholders, its savings account holders, and the public are adequately protected; and
(c) The converting savings association has complied with the requirements of this section.
(4) If the director approves the plan of conversion, the approval shall be in writing and sent to the home office of the converting savings association. As part of its approval, the director may prescribe terms and conditions to be fulfilled either before or after the conversion to cause the converting savings association to conform to the requirements of the Nebraska Banking Act.
(5) If the director disapproves the plan of conversion, the reasons for such disapproval shall be stated in writing and sent to the home office of the converting savings association, which shall be afforded an opportunity to amend and resubmit the plan within a reasonable period of time as prescribed by the director. In the event the director disapproves the plan after such resubmission, written notice of such final disapproval shall be sent by certified mail to the savings association's home office.
Source
Laws 1998, LB 1321, § 27.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-183.02 - State or federal savings association; plan of conversion; approval.

8-183.02.
State or federal savings association; plan of conversion; approval.
(1) If the director approves a plan of conversion in accordance with section 8-183.01, such plan shall be submitted for adoption to the members or shareholders of the converting savings association by vote at a 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 shareholders and the converted association as a result of the operation of the plan, shall be mailed to each member or shareholder eligible to vote at such meeting.
(2) 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 conversion.
(3) A certified copy of the proceedings at such meeting shall be filed with the director within thirty days after such meeting.
(4) If the plan of conversion is approved, the board of directors of the savings association shall take action to obtain a state bank charter, adopt articles of incorporation, adopt bylaws, elect directors and officers, and take such other action as is required or appropriate for a state bank corporation.
Source
Laws 1998, LB 1321, § 28.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-183.03 - State or federal savings association; conversion to state bank; requirements.

8-183.03.
State or federal savings association; conversion to state bank; requirements.
(1) To obtain a state bank charter, a savings association shall meet the requirements of state law as to the formation of a new state bank. The public hearing requirement of subdivision (1) of section 8-115.01 shall only be required if (a) after publishing a notice of the proposed conversion in a newspaper of general circulation in the county where the main office of the converting savings association is located, the expense of which shall be paid by the applicant savings association, the director receives a substantive objection to the conversion within fifteen days after such publication or (b) in the discretion of the director, the condition of the savings association warrants a hearing.
(2) If the savings association is a federal association, compliance with the procedure for conversion to a state bank prescribed by the laws of the United States, if any, shall be demonstrated to the director.
(3) When the persons requesting the conversion of the savings association are officers or directors of the savings association, there shall be a rebuttable presumption that such persons are parties of integrity and responsibility.
(4) If the main office of the resulting state bank is to be at the same location as the main office of the converting savings association, the director shall recognize that the public necessity, convenience, and advantage of the community will be met by permitting the resulting bank to engage in business.
(5) The director may make an examination of the applicant savings association prior to his or her decision on the application for a state bank charter. The cost of such examination shall be paid by the applicant savings association.
Source
Laws 1998, LB 1321, § 29;
Laws 2002, LB 957, § 6.