reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-317 - Certificates of stock; records; payments; matured stock; right to withdraw.

8-317.
Certificates of stock; records; payments; matured stock; right to withdraw.
Certificates of stock or other written evidence thereof shall be issued for each account in conformity with sections 8-301 to 8-340.01 and the bylaws. Every stockholder shall receive credit on the books of the association for all amounts paid by the stockholder upon the stockholder's subscription for stock, together with the stockholder's pro rata share of all dividends declared, as hereinafter provided, and when the sum of such payments and dividends, less all fines or other charges, equal the par value of the shares of stock held by the stockholder, the stockholder shall be entitled to receive such par value, with such interest not exceeding the legal rate, as the directors may determine, from the time of maturity until paid. Holders of stock thus matured and members desiring to withdraw before such maturity shall be paid the value of their stock in the order of the maturity of or notice of withdrawal of such stock. At no time shall more than two-thirds of the unloaned funds in the treasury of the association, inclusive of such funds applicable to the demands of withdrawing stockholders, as hereinbefore provided, be applicable to the demands of holders of matured stock without the consent of the board of directors.
Source
Laws 1899, c. 17, § 6, p. 87;
R.S.1913, § 491;
Laws 1919, c. 190, tit. V, art. XIX, § 7, p. 726;
C.S.1922, § 8089;
C.S.1929, § 8-307;
R.S.1943, § 8-317;
Laws 1947, c. 14, § 1, p. 79;
Laws 1975, LB 481, § 2;
Laws 1975, LB 508, § 1;
Laws 1978, LB 717, § 4;
Laws 2000, LB 932, § 9.
Annotations
This section only fixes property rights of persons named; strangers to deposit allowed to establish oral trust in the account. Eden v. Eden, 182 Neb. 768, 157 N.W.2d 543 (1968).
Certificates issued by building and loan association to two or more persons are payable to any one of them. Rose v. Hooper, 175 Neb. 645, 122 N.W.2d 753 (1963).
Joint tenancy as to building and loan shares of stock is controlled by this section. Kindler v. Kindler, 169 Neb. 153, 98 N.W.2d 881 (1959).
When building and loan stock certificate is made to the joint account of two or more persons, the survivor or survivors are entitled to the full title thereto. Tobas v. Mutual Building & Loan Assn., 147 Neb. 676, 24 N.W.2d 870 (1946).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-320 - Reserve funds; idle funds; investments authorized; deposit of funds in banks.

8-320.
Reserve funds; idle funds; investments authorized; deposit of funds in banks.
Any association may invest its reserve fund for the payment of contingent losses, any reserve fund created to protect against any other contingency, and any portion of its idle funds, not immediately needed to carry on its proper functions, as follows:
(1) In bonds, notes, warrants, or other direct obligations of the United States or of any city, village, county, township, or school, road, water, sewer, paving, drainage, or sanitary and improvement district or any other political subdivision of the State of Nebraska;
(2) In any securities and obligations issued by the Federal Home Loan Bank, the Federal National Mortgage Association, or successor corporations, bonds and debentures issued either singly or collectively by any of the twelve federal land banks, the twelve intermediate credit banks, or the thirteen banks for cooperatives under the supervision of the Farm Credit Administration, and securities of any other federal agency corporation; and
(3) In securities issued pursuant to the Nebraska Business Development Corporation Act.
Any provision of this section to the contrary notwithstanding, an association may make any investment that a federal savings and loan association doing business in this state is or may be authorized to make.
Any association may deposit its funds, or any part thereof, in any national or state bank insured by the Federal Deposit Insurance Corporation or any corporation successor thereto and receive therefor certificates of time or savings deposit or the usual bank passbook credit subject to check or in share accounts of any state or federal savings and loan association the accounts of which are insured by the Federal Deposit Insurance Corporation or any corporation successor thereto.
Source
Laws 1917, c. 10, § 3, p. 68;
Laws 1919, c. 190, tit. V, art. XIX, § 9, p. 727;
C.S.1922, § 8091;
C.S.1929, § 8-309;
Laws 1933, c. 25, § 1, p. 197;
Laws 1935, c. 14, § 3, p. 84;
Laws 1937, c. 14, § 1, p. 119;
Laws 1941, c. 90, § 32, p. 358;
C.S.Supp.,1941, § 8-309;
Laws 1943, c. 14, § 1(2), p. 79;
R.S.1943, § 8-320;
Laws 1955, c. 13, § 1, p. 81;
Laws 1959, c. 263, § 3, p. 922;
Laws 1963, c. 32, § 1, p. 192;
Laws 1992, LB 757, § 5;
Laws 2005, LB 533, § 17.
Cross References
Nebraska Business Development Corporation Act, see section 21-2101.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-320.01 - Investments; service corporations.

8-320.01.
Investments; service corporations.
An association organized under the provisions of Chapter 8, article 3, may purchase, hold, and sell stock in any service corporation organized under the laws of the State of Nebraska whose stock is owned exclusively by building and loan associations whose operations are subject to audit by the Department of Banking and Finance and, if insured, by the Federal Home Loan Bank Board and whose activities are restricted to:
(1) The providing of clerical, bookkeeping, accounting, statistical, and data processing services primarily for building and loan associations;
(2) The purchase, development, and conveyance of real estate for the purpose of renovating and rehabilitating substandard housing including enrollment in state and federal programs in connection therewith, and for other lawful purposes;
(3) The servicing, purchasing, selling, and making of loans upon real estate and participating interests therein; and
(4) The investment in corporations whose principal activities are community development, urban renewal and industrial development.
Source
Laws 1969, c. 44, § 1, p. 256.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-321 - Loans; evidence of indebtedness; form; parity with federal associations.

8-321.
Loans; evidence of indebtedness; form; parity with federal associations.
No evidence of indebtedness taken by said association for the return of any loan shall be negotiable in form, and whatever be its form, every such evidence of indebtedness shall be nonnegotiable in law, except as hereinafter provided, and no such debt or evidence of debt shall be assignable or transferable in any manner so as to prevent the discharge thereof by payments to the association, except as hereinafter provided, except that bonds and interest-bearing obligations, in which temporary investments may be made as hereinbefore provided, may be converted into cash in due course.
Notwithstanding the provision of this section, an association may sell or purchase such loans, and enter into such participation loans, as are or may be permitted to federal savings and loan associations doing business in this state.
Source
Laws 1899, c. 17, § 8, p. 89;
R.S.1913, § 493;
Laws 1917, c. 10, § 3, p. 68;
Laws 1919, c. 190, tit. V, art. XIX, § 9, p. 728;
C.S.1922, § 8091;
C.S.1929, § 8-309;
Laws 1933, c. 25, § 1, p. 198;
Laws 1935, c. 14, § 3, p. 85;
Laws 1937, c. 14, § 1, p. 119;
Laws 1941, c. 90, § 32, p. 358;
C.S.Supp.,1941, § 8-309;
Laws 1943, c. 14, § 1(3), p. 79;
R.S.1943, § 8-321;
Laws 1959, c. 21, § 3, p. 150.
Annotations
Provision hereof against assigning or transferring evidence of debt was inserted for protection of borrowing member and does not prevent equitable transfer by association. Nebraska Central B. & L. Assn. v. H. J. Hughes & Co., 121 Neb. 266, 236 N.W. 699 (1931).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-322 - Membership in Federal Home Loan Bank authorized; power to utilize federal agencies; power to obtain advances; use of funds.

8-322.
Membership in Federal Home Loan Bank authorized; power to utilize federal agencies; power to obtain advances; use of funds.
Any building and loan association is hereby authorized (1) to subscribe for the stock of and to become a member of the Federal Home Loan Bank for the district in which it may be located or for the stock of a Federal Home Loan Bank of an adjoining district if demanded by convenience; (2) to obtain advances from the Federal Home Loan Bank System, under the rules and regulations promulgated by the bank of which the association is a member, to obtain advances from any other corporation or agency established by or under authority of the United States Government, and to assign its mortgages or such other assets as may be required as security therefor; and (3) to do and perform such acts as may be necessary and required to avail to it all the advantages and privileges offered by the Federal Home Loan Bank or offered by any other corporation or agency established under the authority of the United States Government or any instrumentality of the United States Government.
Source
Laws 1933, c. 25, § 1, p. 198;
Laws 1935, c. 14, § 3, p. 85;
Laws 1937, c. 14, § 1, p. 120;
Laws 1941, c. 90, § 32, p. 359;
C.S.Supp.,1941, § 8-309;
Laws 1943, c. 14, § 1(4), p. 79;
R.S.1943, § 8-322;
Laws 1957, c. 14, § 1, p. 137.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-323 - Mortgages; assignment to Home Owners' Loan Corporation authorized; condition.

8-323.
Mortgages; assignment to Home Owners' Loan Corporation authorized; condition.
Any building and loan association is hereby authorized, with the approval of its board of directors, to assign its mortgages and the evidence of debt secured thereby to the Home Owners' Loan Corporation created by act of Congress of the United States under the act cited as the Home Owners' Loan Act of 1933, or such other corporation as may be created by authority of the United States Government, or as an instrumentality of the United States Government, and to accept as consideration for such assignment, cash or bonds of such Home Owners' Loan Corporation or such other corporation as may be created by authority of the United States Government, or as an instrumentality of the United States Government;
Provided,
that no mortgage given by any member of such association shall be so assigned without the written consent of the borrowing member.
Source
Laws 1933, c. 25, § 1, p. 198;
Laws 1935, c. 14, § 3, p. 85;
Laws 1937, c. 14, § 1, p. 120;
C.S.Supp.,1939, § 8-309;
Laws 1941, c. 90, § 32, p. 359;
C.S.Supp.,1941, § 8-309;
Laws 1943, c. 14, § 1(5), p. 80;
R.S.1943, § 8-323.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-324 - Stock; availability for purchase of real estate or payment of loan.

8-324.
Stock; availability for purchase of real estate or payment of loan.
Any association, at the discretion of its officers and directors, and with the consent and approval of the Department of Banking and Finance, may accept its stock at the withdrawal value of such shares, to apply on the purchase at its fair market value, of any real estate owned by such association, or to apply in payment or reduction of any loans or contracts of sale on which, in the judgment of the officers and directors, there may be an eventual loss, whether or not notice for withdrawal of such shares shall have been filed, and such action shall not be considered prejudicial to the rights of any stockholders to whom payment on withdrawal notices is being delayed.
Source
Laws 1933, c. 25, § 1, p. 199;
Laws 1935, c. 14, § 3, p. 86;
Laws 1937, c. 14, § 1, p. 120;
Laws 1941, c. 90, § 32, p. 359;
C.S.Supp.,1941, § 8-309;
Laws 1943, c. 14, § 1(6), p. 80;
R.S.1943, § 8-324.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-325 - Real estate; acquisition and disposal; powers; limitations.

8-325.
Real estate; acquisition and disposal; powers; limitations.
Such association may purchase, hold, lease and convey real estate or stock for the following purposes and no others:
(1) Such real estate as it may need to occupy as a place of business;
(2) Such as shall in good faith be conveyed to it in satisfaction of debts contracted in the ordinary course of business;
(3) Such as it shall purchase at sales under judgments, decrees or mortgages held by the association, or shall purchase in good faith to secure debts due;
(4) Such as it shall in good faith acquire as a part of the consideration for the sale or exchange of real estate owned by it;
(5) Such as shall be acquired in salvaging the value of property owned by the association; and
(6) Such as is permitted building and loan service corporations under section 8-320.01. Nothing in this section shall be construed to forbid the mortgaging of real estate to such associations.
Source
Laws 1899, c. 17, § 9, p. 89;
R.S.1913, § 494;
Laws 1919, c. 190, tit. V, art. XIX, § 10, p. 728;
C.S.1922, § 8092;
C.S.1929, § 8-310;
Laws 1935, c. 11, § 1, p. 80;
C.S.Supp.,1941, § 8-310;
R.S.1943, § 8-325;
Laws 1969, c. 38, § 1, p. 246.
Annotations
Association must dispose of title and possession to property held for five years. State ex rel. Johnson v. Conservative Savings and Loan Assn., 143 Neb. 805, 11 N.W.2d 89 (1943).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-327 - Dividends; how and when paid.

8-327.
Dividends; how and when paid.
Every association of the character defined in section 8-326, shall be required, at least annually, to transfer the residue of earnings, after paying expenses and setting aside a sum for the reserve funds as herein provided, as a dividend to members holding share accounts. All such members shall participate in earnings pro rata to the withdrawal value of their respective accounts, except that an association may classify its share accounts according to the character, amount, or duration thereof, or regularity of additions thereto, and may agree in advance to pay an additional rate of earnings, over and above the minimum rate of earnings paid on share accounts, on accounts based on such classifications, and shall regulate such earnings in such manner that each share account in the same classification shall receive the same ratable portion of such additional earnings. Earnings may be declared on the withdrawal value of each share account at the beginning of the accounting period, plus additions thereto made during the period, less amounts previously withdrawn and amounts covered by notice for withdrawal which for earnings purposes shall be deducted from the latest previous additions thereto, computed at the declared rate for the time the funds have been invested determined as next provided. The date of investment shall be the date of actual receipt by the association of an account or an addition to an account, except that if the board of directors shall so determine, accounts in one or more classifications or additions thereto received by the association on or before a date not later than the twentieth day of the month, unless the day determined is not a business day and in such case it may be the next succeeding business day, shall receive earnings as if invested on the first day of the month in which such payments were received; and if the board shall make such determination, it also shall determine that payments received subsequent to such determination date shall either (1) receive earnings as if invested on the first day of the next succeeding month, or (2) receive earnings from the date of actual receipt by the association. The directors shall determine by resolution the method of calculating the amount of any earnings on share accounts as herein provided, and the time or times when earnings are to be declared, paid, or credited, but the association shall not be required to credit or pay dividends on inactive share accounts of fifty dollars or less.
Source
Laws 1899, c. 17, § 11, p. 90;
R.S.1913, § 496;
Laws 1919, c. 190, tit. V, art. XIX, § 12, p. 729;
C.S.1922, § 8094;
C.S.1929, § 8-312;
Laws 1941, c. 12, § 2, p. 85;
C.S.Supp.,1941, § 8-312;
R.S.1943, § 8-327;
Laws 1967, c. 26, § 1, p. 135.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-329 - Taxation; real estate.

8-329.
Taxation; real estate.
The real estate of such associations shall be subject to taxation in the same manner as provided by law in the case of other corporations and individuals.
Source
Laws 1899, c. 17, § 14, p. 91;
R.S.1913, § 498;
Laws 1919, c. 190, tit. V, art. XIX, § 14, p. 730;
C.S.1922, § 8096;
C.S.1929, § 8-314;
R.S.1943, § 8-329;
Laws 1959, c. 22, § 1, p. 152;
Laws 1971, LB 3, § 1.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-331 - Articles of incorporation; bylaws; filing; certificate of approval; application; contents; approval by Department of Banking and Finance.

8-331.
Articles of incorporation; bylaws; filing; certificate of approval; application; contents; approval by Department of Banking and Finance.
Every association shall adopt articles of incorporation and bylaws. A copy of the articles of incorporation and bylaws of every such association shall be filed in the office of the Department of Banking and Finance, 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 facts and information desired by the Department of Banking and Finance. The department, upon completion of its investigations and its examination of the articles, bylaws, and application for certificate of approval, shall issue a certificate of approval of the association and articles of incorporation and bylaws, but no such certificate of approval shall be issued unless and until the department has determined:
(1) That the articles of incorporation and bylaws conform to the requirements of sections 8-301 to 8-384 and contain a just and equitable plan for the management of the association's business;
(2) That the persons organizing the association are of good character and responsibility;
(3) That in its judgment a need exists for such an institution in the community to be served;
(4) That there is a reasonable probability of its usefulness and success; and
(5) That the same can be established without undue injury to properly conducted existing local building and loan associations.
No such association shall transact any business, except the execution of its articles of incorporation, the adoption of bylaws, and the election of directors and officers, until it has procured a certificate of approval under this section. No amendment of the articles of incorporation or bylaws of any such association shall become operative until a copy of the amendment has been filed and a certificate of approval obtained under this section in regard to the original articles of incorporation and bylaws.
Source
Laws 1899, c. 17, § 15, p. 92;
R.S.1913, § 500;
Laws 1919, c. 190, tit. V, art. XIX, § 16, p. 730;
C.S.1922, § 8098;
C.S.1929, § 8-136;
R.S.1943, § 8-331;
Laws 1949, c. 11, § 1, p. 72;
Laws 1957, c. 10, § 3, p. 130;
Laws 1978, LB 717, § 5;
Laws 2000, LB 932, § 10;
Laws 2005, LB 533, § 18.
Annotations
Requirements hereof apply to application for branch office. First Fed. Sav. & Loan Assn. v. Department of Banking, 187 Neb. 562, 192 N.W.2d 736 (1971).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-332 - Annual statement; publication; special reports; violation; penalty.

8-332.
Annual statement; publication; special reports; violation; penalty.
Every such association shall, at the close of business on June 30 of each year and at such other times as required by the Department of Banking and Finance, file in the office of the department, within thirty days after the receipt of a request for a requisition therefor, a statement verified by the oath of its president or secretary and approved by three of its directors in such form as may be prescribed by the department, setting forth its actual financial condition and the amount of its assets and liabilities and furnishing such other information as to its affairs as the department may require. A copy of such annual statement shall be published in a newspaper of general circulation, in the county where such association is located, three consecutive times, and due proof of such publication, by affidavit, shall be filed with the department. The department may call for special reports from any such association whenever in its judgment such reports may be necessary or advisable, but no other or further notice or statement of the amount of the existing debts of such corporation shall be required to be published than that on June 30. Any association failing to comply with this section shall pay to the department fifty dollars for each day such noncompliance continues unless the department extends the filing deadlines for such reports and proofs of publication.
Source
Laws 1899, c. 17, § 16, p. 93;
R.S.1913, § 501;
Laws 1919, c. 190, tit. V, art. XIX, § 17, p. 731;
C.S.1922, § 8099;
C.S.1929, § 8-317;
R.S.1943, § 8-332;
Laws 1988, LB 993, § 1.
Annotations
A false entry under this section is one that is knowingly made with intent to deceive examiner, and an incorrect entry made to correct a mistake in bookkeeping and to make account more nearly speak the truth is not made criminal. Fricke v. State, 112 Neb. 767, 201 N.W. 667 (1924).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-333 - False statement or book entry; penalty.

8-333.
False statement or book entry; penalty.
Every person who shall willfully or knowingly subscribe, or make, or cause to be made, any false statement or any false entries in any book of any association organized for the purpose set forth in section 8-302, or exhibit any false paper with the intent to deceive any person authorized to examine into the affairs of such association, or shall make, state or publish any false statement of the financial condition of such association, shall be guilty of a Class IV felony.
Source
Laws 1899, c. 17, § 17, p. 93;
R.S.1913, § 502;
Laws 1919, c. 190, tit. V, art. XIX, § 18, p. 731;
C.S.1922, § 8100;
C.S.1929, § 8-318;
R.S.1943, § 8-333;
Laws 1977, LB 40, § 57.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-334 - Liquidation; insolvency; powers and duties of Department of Banking and Finance; writs of assistance.

8-334.
Liquidation; insolvency; powers and duties of Department of Banking and Finance; writs of assistance.
Whenever it appears to the Department of Banking and Finance that the assets of any association or corporation organized under the laws of this state for the purpose set forth in section 8-302 do not equal the liabilities, that it is conducting its business in an unsafe or unauthorized manner, that it is jeopardizing the interest of its members, or that it is unsafe for such association or corporation to transact business, the department shall take possession of the books, records, and assets of every description of such association or corporation, and the department shall have full authority to retain such possession as against any mesne or final process issued by any court against such association or corporation whose property has been taken possession of by the department, pending the further proceedings specified in sections 8-301 to 8-340.01. If such possession is refused by the secretary, managing officer, or person in charge of such association or corporation, the department shall communicate such fact to the Attorney General together with a copy of such order of possession and it shall become the duty of the Attorney General to apply to the Court of Appeals or to the district court or county court of the county where such association or corporation is located or to a judge of any such court for a writ of assistance in placing the department in immediate possession of such association or corporation. It shall be sufficient to authorize the issuance of the writ and the taking possession of such association or corporation under the writ if it is made to appear that possession was refused.
Source
Laws 1899, c. 17, § 19a, p. 94;
R.S.1913, § 504;
Laws 1919, c. 190, tit. V, art. XIX, § 20, p. 732;
C.S.1922, § 8102;
C.S.1929, § 8-319;
R.S.1943, § 8-334;
Laws 1991, LB 732, § 15;
Laws 2000, LB 932, § 11.
Annotations
A borrowing member upon insolvency is required to repay what he actually received, with interest, and is entitled, after debts are paid, to a pro rata dividend with nonborrowing member for what he has paid. Saunders v. State Savings & Loan Assn., 121 Neb. 473, 237 N.W. 572 (1931).
Alleged sovereign right of city of Lincoln to priority of payment out of assets of bankrupt trust company is inconsistent with Nebraska legislation and not within the common law of the state. City of Lincoln, Neb. v. Ricketts, 84 F.2d 795 (8th Cir. 1936).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-335 - Liquidation; insolvency; special shareholders' meeting; report of department.

8-335.
Liquidation; insolvency; special shareholders' meeting; report of department.
The Department of Banking and Finance shall, within ten days next after acquiring possession of such association, convene a special meeting of the shareholders. Notice of such special meeting shall be given by publication in a newspaper of general circulation in the county where such association is located and by written or printed notice posted in a conspicuous place in the office or place of business of the association. At such meeting the department shall present a full report of the affairs and condition of such association as found by its examination thereof.
Source
Laws 1899, c. 17, § 19b, p. 95;
R.S.1913, § 505;
Laws 1919, c. 190, tit. V, art. XIX, § 21, p. 733;
C.S.1922, § 8103;
C.S.1929, § 8-320;
R.S.1943, § 8-335.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-336 - Liquidation; insolvency; inventory; collection of assets; expenses.

8-336.
Liquidation; insolvency; inventory; collection of assets; expenses.
The Department of Banking and Finance, or any person authorized by it, shall, after having taken possession of the association under section 8-334, and pending the further proceedings specified in sections 8-301 to 8-340.01, prepare, or have prepared, a full and true exhibit of the affairs, property, and condition of such association, including an itemized statement of all its assets and liabilities. The department shall also receive and collect all debts, dues, and claims belonging to it, pay the immediate and reasonable expense of its trust, receive and receipt for all monthly payments becoming due after the date of coming into possession of the association, and keep the same separate and apart from the other money and effects of such association.
Source
Laws 1899, c. 17, § 19c, p. 96;
R.S.1913, § 506;
Laws 1919, c. 190, tit. V, art. XIX, § 22, p. 733;
C.S.1922, § 8104;
C.S.1929, § 8-321;
R.S.1943, § 8-336;
Laws 2000, LB 932, § 12.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-337 - Insolvency; reorganization; surrender of assets by Department of Banking and Finance.

8-337.
Insolvency; reorganization; surrender of assets by Department of Banking and Finance.
If at the special meeting of the shareholders they shall vote to reorganize such association, the Department of Banking and Finance, upon the consummation of the reorganization thereof, and the approval of the department, shall turn over to the new management all the books, papers and effects of every description in its hands belonging to such association.
Source
Laws 1899, c. 17, § 19d, p. 96;
R.S.1913, § 507;
Laws 1919, c. 190, tit. V, art. XIX, § 23, p. 733;
C.S.1922, § 8105;
C.S.1929, § 8-322;
R.S.1943, § 8-337.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-338 - Voluntary liquidation; disposition of payments, other property; duty of Department of Banking and Finance.

8-338.
Voluntary liquidation; disposition of payments, other property; duty of Department of Banking and Finance.
If at the special meeting of the shareholders they shall vote to go into voluntary liquidation or to otherwise close up or discontinue the business of such association, the Department of Banking and Finance shall return to the shareholders all monthly payments and other payments on subscriptions for stock received and receipted for by it, and which became due and payable after the date of taking possession. All books, papers and effects of every description in its hands, belonging to such association not so returnable, shall be turned over and delivered to the person or persons entitled thereto.
Source
Laws 1899, c. 17, § 19e, p. 96;
R.S.1913, § 508;
Laws 1919, c. 190, tit. V, art. XIX, § 24, p. 733;
C.S.1922, § 8106;
C.S.1929, § 8-323;
R.S.1943, § 8-338.
Annotations
Borrowing member is entitled to pro rata dividend on shares after assets reduced to money and debts paid. Saunders v. State Savings & Loan Assn., 121 Neb. 473, 237 N.W. 572 (1931).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-339 - Involuntary liquidation; duty of Department of Banking and Finance.

8-339.
Involuntary liquidation; duty of Department of Banking and Finance.
If the Department of Banking and Finance after having called a meeting of the shareholders as herein provided, shall find that the association cannot be reorganized or that voluntary liquidation by the shareholders cannot be had or consummated, the department shall take charge of such building and loan association and proceed to liquidate such association in the manner provided for the liquidation of insolvent banks.
Source
Laws 1899, c. 17, § 19f, p. 97;
R.S.1913, § 509;
Laws 1919, c. 190, tit. V, art. XIX, § 25, p. 734;
C.S.1922, § 8107;
C.S.1929, § 8-324;
Laws 1933, c. 18, § 85, p. 179;
C.S.Supp.,1941, § 8-324;
R.S.1943, § 8-339.
Annotations
Alleged sovereign right to city of Lincoln to priority of payment out of assets of bankrupt trust company is inconsistent with Nebraska legislation and not within the common law of the state. City of Lincoln, Neb. v. Ricketts, 84 F.2d 795 (8th Cir. 1936).
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-340 - Rules and regulations.

8-340.
Rules and regulations.
The Department of Banking and Finance has power to make such rules and regulations for the government of all associations of the character defined in sections 8-301 to 8-340.01 as may, in its judgment, seem wise and expedient.
Source
Laws 1899, c. 17, § 20, p. 98;
R.S.1913, § 510;
Laws 1919, c. 190, tit. V, art. XIX, § 26, p. 734;
C.S.1922, § 8108;
C.S.1929, § 8-325;
R.S.1943, § 8-340;
Laws 2000, LB 932, § 13.
Cross References
For adoption and promulgation of administrative rules, see Administrative Procedure Act, section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-340.01 - Executive officers and employees; bonding requirements.

8-340.01.
Executive officers and employees; bonding requirements.
Each and every executive officer and such other employees as the Department of Banking and Finance deems necessary of each building and loan association shall execute to such association and to the State of Nebraska, jointly, a corporate surety bond in an amount fixed by the department, said amount to be equal or uniform as to all associations in accordance with their size. In lieu of individual corporate surety bonds, the Director of Banking and Finance may accept a blanket corporate surety bond. All surety bonds shall be conditioned to protect and indemnify the association from any and all pecuniary loss, which the association may sustain, of money or other personal property, including that for which the association is responsible, through or by reason of the fraud, dishonesty, forgery, theft, embezzlement, wrongful abstraction, misapplication, misappropriation, or any other dishonest or criminal act, of or by any of said executive officers or employees of the association. Such bond or bonds shall be filed with and approved by the director, remain a part of the records of the department, and be open to public inspection during the office hours of the department.
Source
Laws 1953, c. 13, § 1, p. 79.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-345.01 - Automatic teller machines; authorized.

8-345.01.
Automatic teller machines; authorized.
Nothing in section 8-157.01 shall prohibit building and loan associations as defined in sections 8-301 to 8-340.01 from establishing and operating new automatic teller machines for the purpose of transmitting savings and loan transactions.
Source
Laws 1975, LB 508, § 2;
Laws 1993, LB 81, § 53;
Laws 2000, LB 932, § 14;
Laws 2003, LB 131, § 6;
Laws 2016, LB760, § 4.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-345.02 - New branch; limitation.

8-345.02.
New branch; limitation.
No building and loan association organized under the provisions of Chapter 8, article 3, shall establish any new branch on or after March 26, 1992, except to the extent provided for banks in section 8-157.
Source
Laws 1992, LB 470, § 3;
Laws 2002, LB 1089, § 6.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-346 - Books; examination.

8-346.
Books; examination.
(1) The Director of Banking and Finance, his or her deputy, or any duly appointed examiner shall have power to make a thorough examination into all the books, records, business, and affairs of every building and loan association organized under the laws of this state as often as deemed necessary. The director may accept in his or her discretion, in lieu of any examination authorized by the laws of this state, a report of an examination made of a building and loan association by the Federal Deposit Insurance Corporation, or the director may examine any such association with that federal agency.
(2) The director may, at his or her discretion, make available to the Federal Deposit Insurance Corporation or the Office of the Comptroller of the Currency copies of reports of any such examination or any information furnished to or obtained by him or her in such examination. The rights, powers, duties, and privileges of the director, his or her deputy, or any duly appointed examiner in connection with such examinations shall be the same as is or may be provided by law in reference to the examinations of banks.
Source
Laws 1935, c. 13, § 1, p. 82;
C.S.Supp.,1941, § 8-331;
R.S.1943, § 8-346;
Laws 1953, c. 12, § 1, p. 78;
Laws 1992, LB 757, § 8;
Laws 2000, LB 932, § 15;
Laws 2019, LB258, § 10.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-347 - State association; conversion into federal savings and loan association; procedure.

8-347.
State association; conversion into federal savings and loan association; procedure.
Any building and loan association or other home financing organization by whatever name or style it may be designated, eligible to become a federal savings and loan association, may convert itself into a federal savings and loan association by following the procedure hereinafter outlined:
(1) At any regular meeting of the shareholders of any such association or at any special meeting of the shareholders of such association, in either case called to consider such action and held in accordance with the laws governing such association, such shareholders by an affirmative record vote of the shareholders owning and voting two-thirds of the total number of shares outstanding, present in person or by proxy, may declare by resolution the determination to convert said association into a federal savings and loan association;
(2) A copy of the minutes of such meeting of the shareholders verified by the affidavit of the president or vice president and the secretary of the meeting, shall be filed within ten days after said meeting in the office or department of this state having supervision of such association; and such verified copy of the minutes of such meeting when so filed shall be presumptive evidence of the holding and of the action of such meeting;
(3) Within a reasonable time and without any unnecessary delay after the adjournment of such meeting of shareholders, such association shall take such action as may be necessary to make it a federal savings and loan association, and within ten days after receipt of the federal charter there shall be filed in the office or department of this state having supervision of such association, a copy of the charter issued to such association by the Federal Home Loan Bank Board or a certificate showing the organization of such association as a federal savings and loan association certified by, or on behalf of, the Federal Home Loan Bank Board. Upon the filing of such instrument such association shall cease to be a state association and shall thereafter be a federal savings and loan association.
Source
Laws 1935, c. 15, § 1, p. 86;
C.S.Supp.,1941, § 8-332;
R.S.1943, § 8-347.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-348 - State association; conversion into federal association; transfer of supervision; status of property owned; continuation of association.

8-348.
State association; conversion into federal association; transfer of supervision; status of property owned; continuation of association.
At the time when such conversion becomes effective as provided in section 8-347, such association shall cease to be supervised by this state and all of the property of such association, including all of its right, title and interest in and to all property of every kind and character whether real, personal or mixed, shall immediately by operation of law and without any conveyance or transfer whatsoever and without any further act or deed, continue to be vested in said association under its new name and style as a federal savings and loan association and under its new jurisdiction. Said federal savings and loan association 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 it as a state association, and said federal savings and loan association at the time of the taking effect of such conversion shall continue responsible for all of the obligations of said state association to the same extent as though said conversion had not taken place. It is hereby expressly declared that the said federal savings and loan association shall be merely a continuation of the said state association under a new name and new jurisdiction and such revision of its corporate structure as may be considered necessary for its proper operation under said new jurisdiction.
Source
Laws 1935, c. 15, § 2, p. 87;
C.S.Supp.,1941, § 8-333;
R.S.1943, § 8-348.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-349 - State associations; consolidation or merger; procedure; powers and duties of Department of Banking and Finance.

8-349.
State associations; consolidation or merger; procedure; powers and duties of Department of Banking and Finance.
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 of Banking and Finance 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. Such plan for consolidation or merger may include and provide for a reduction in the capital stock of the association or associations and of the nominal or book value of the shares, thereof, for the issuance of new certificates in lieu thereof, and for the distribution of any part of the assets of such association among its shareholders. If, at such meeting of the shareholders of any such association, not less than one-third 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 of Banking and Finance, 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; and such plan shall be in force and effect from and after the date of such order;
Provided,
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 of Banking and Finance full power and authority to issue and enforce such orders having to do with carrying out of the plan of consolidation or merger adopted as shall be necessary and requisite for the protection of the shareholders, and distribution of the assets of the associations involved in the consolidation or merger.
Source
Laws 1937, c. 21, § 1, p. 132;
C.S.Supp.,1941, § 8-335;
R.S.1943, § 8-349;
Laws 1969, c. 40, § 1, p. 248.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-351 - Federal savings and loan association; conversion into state association; certificate of approval; supervision.

8-351.
Federal savings and loan association; conversion into state association; certificate of approval; supervision.
Upon the issuance by the Department of Banking and Finance of a certificate of its approval of said articles of incorporation, constitution, and bylaws, the conversion of any such federal savings and loan association into a state association shall become effective, and said association shall thereupon be subject to the exclusive supervision and control of the department as provided in Chapter 8, article 3, and amendments thereto.
Source
Laws 1949, c. 7, § 2(1), p. 67.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-352 - Federal savings and loan association; conversion into state association; status of property owned; obligation.

8-352.
Federal savings and loan association; conversion into state association; status of property owned; obligation.
All of the property of such association, including all of its right, title, and interest in and to all property of every kind and character whether real, personal, or mixed, shall immediately, by operation of law, without any conveyance or transfer whatsoever, and without any further act or deed, continue to be vested in said association under its new name and style as a state association and under its new jurisdiction. Such state association 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 it as a federal savings and loan association. The said state association at the time of the taking effect of such conversion shall continue to be responsible for all the obligations of said federal savings and loan association to the same extent as though said conversion had not taken place.
Source
Laws 1949, c. 7, § 2(2), p. 67.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-353 - Federal savings and loan association; conversion into state association; effect.

8-353.
Federal savings and loan association; conversion into state association; effect.
It is hereby expressly declared that said state association shall be merely a continuation of said federal savings and loan association under a new name and new jurisdiction, and such revision of its corporate structure as may be considered necessary for its proper operation under said state jurisdiction.
Source
Laws 1949, c. 7, § 2(3), p. 67.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-355 - Federal savings and loan; associations organized under laws of Nebraska; rights, privileges, benefits, and immunities; exception.

8-355.
Federal savings and loan; associations organized under laws of Nebraska; rights, privileges, benefits, and immunities; exception.
Notwithstanding any of the provisions of Chapter 8, article 3, or any other Nebraska statute, except as provided in section 8-345.02, any association incorporated under the laws of the State of Nebraska and organized under the provisions of such article shall have all the rights, powers, privileges, benefits, and immunities which may be exercised as of January 1, 2023, by a federal savings and loan association doing business in Nebraska. Such rights, powers, privileges, benefits, and immunities shall not relieve such association from payment of state taxes assessed under any applicable laws of this state.
Source
Laws 1971, LB 185, § 1;
Laws 1972, LB 1288, § 1;
Laws 1973, LB 351, § 1;
Laws 1974, LB 784, § 1;
Laws 1975, LB 201, § 1;
Laws 1976, LB 763, § 2;
Laws 1977, LB 224, § 1;
Laws 1978, LB 717, § 6;
Laws 1979, LB 154, § 2;
Laws 1980, LB 865, § 1;
Laws 1981, LB 71, § 1;
Laws 1982, LB 646, § 1;
Laws 1983, LB 144, § 1;
Laws 1984, LB 923, § 1;
Laws 1985, LB 128, § 1;
Laws 1986, LB 1052, § 1;
Laws 1987, LB 115, § 1;
Laws 1988, LB 858, § 1;
Laws 1989, LB 207, § 1;
Laws 1990, LB 1016, § 1;
Laws 1991, LB 98, § 1;
Laws 1992, LB 470, § 4;
Laws 1992, LB 985, § 1;
Laws 1993, LB 288, § 1;
Laws 1994, LB 876, § 1;
Laws 1995, LB 41, § 1;
Laws 1996, LB 949, § 1;
Laws 1997, LB 35, § 1;
Laws 1998, LB 1321, § 67;
Laws 1999, LB 396, § 12;
Laws 2000, LB 932, § 16;
Laws 2001, LB 53, § 6;
Laws 2002, LB 957, § 8;
Laws 2003, LB 217, § 11;
Laws 2004, LB 999, § 4;
Laws 2005, LB 533, § 19;
Laws 2006, LB 876, § 13;
Laws 2007, LB124, § 7;
Laws 2008, LB851, § 11;
Laws 2009, LB327, § 9;
Laws 2010, LB890, § 8;
Laws 2011, LB74, § 2;
Laws 2012, LB963, § 11;
Laws 2013, LB213, § 8;
Laws 2014, LB712, § 2;
Laws 2015, LB286, § 2;
Laws 2016, LB676, § 2;
Laws 2017, LB140, § 134;
Laws 2018, LB812, § 8;
Laws 2019, LB258, § 11;
Laws 2020, LB909, § 11;
Laws 2021, LB363, § 11;
Laws 2022, LB707, § 19;
Laws 2023, LB92, § 11.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-356 - Capital stock savings and loan association, defined; capital stock; how treated.

8-356.
Capital stock savings and loan association, defined; capital stock; how treated.
(1) A capital stock savings and loan association, referred to in sections 8-356 to 8-384 as a capital stock association, shall mean a financial institution incorporated under sections 8-356 to 8-384 having for its purposes the encouragement of home financing, the accumulation of capital through the issuance and sale of its stock, the acceptance of such accounts, referred to in sections 8-356 to 8-384 as deposits, as may be authorized for mutual savings and loan associations, and the lending of funds so accumulated in accordance with the powers conveyed to mutual associations by Chapter 8, article 3. A capital stock association shall issue a class of stock known as capital stock. The par value shall be stated in the articles of association and bylaws and approved by the Department of Banking and Finance. The consideration for capital stock which has a par value shall be credited to the capital stock account at its par value and any excess shall be credited to paid-in surplus and both shall be maintained as the fixed and permanent capital of the association. Participation in the management of the association shall be limited to the holders of capital stock.
(2) Capital stock shall be a reserve to absorb losses after all surplus, undivided profits, and other reserves available for losses have been depleted.
(3) Capital stock shall not be subject to redemption except on dissolution and shall then be eligible for redemption only after all accounts, deposits, and other creditors, including the Federal Deposit Insurance Corporation in the case of an insured institution, have been paid in full, together with accrued interest.
Source
Laws 1981, LB 500, § 1;
Laws 1992, LB 757, § 9.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-357 - Definitions, sections found.

8-357.
Definitions, sections found.
For purposes of sections 8-356 to 8-384, unless the context otherwise requires, the definitions found in sections 8-358 to 8-370 shall be used.
Source
Laws 1981, LB 500, § 2.