Chapter 8 — BANKS AND BANKING
750 sections in this chapter.
Neb. Rev. Stat. § 8-1301 Terms, defined.
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For the purposes of sections 8-1302 and 8-1303, unless the context otherwise requires: (1) Fiduciary shall mean a trustee under any trust, expressed, implied, resulting, or constructive, personal representative, administrator, guardian, committee, conservator, curator, tutor, cus…
Neb. Rev. Stat. § 8-1302 Deposit in a clearing corporation; procedure; rules and regulations; applicability.
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(1) Notwithstanding any other provision of law, any fiduciary holding securities in its fiduciary capacity, any bank or trust company holding securities as a custodian or managing agent, and any bank or trust company holding securities as custodian for a fiduciary is authorized t…
Neb. Rev. Stat. § 8-1303 Deposit of United States Government securities with a federal reserve bank; procedure; rules and regulations; applicability.
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(1) Notwithstanding any other provision of law, any bank or trust company, when acting as a fiduciary and any bank or trust company, when holding securities as custodian for a fiduciary, is authorized to deposit, or arrange for the deposit, with the federal reserve bank in its di…
Repealed. Laws 2003, LB 217, § 50.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-132 Banks; available funds; deficient reserve; impairment of capital; duty of bank; powers and duties of department; notice to bank.
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(1) The available funds of a bank shall consist of cash on hand and balances due from other solvent banks. Cash shall include lawful money of the United States and exchange for any clearinghouse association. Whenever the available funds or any reserve of any bank are deemed defic…
Repealed. Laws 2011, LB 74, § 9.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-133 Rate of interest; prohibited acts; penalties; pledge of letters of credit authorized.
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(1)(a) Except as provided in this section, a bank may pay interest at any rate on any deposits made or retained in the bank. (b) A bank shall not pay to any officer, director, principal stockholder, or employee a greater rate of interest on the deposits of such officer, director,…
Neb. Rev. Stat. § 8-134 Deposits; repayment only on presentation of pass book, when; notice.
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Banks may, by agreement, provide that deposits received under agreement shall be repaid only on presentation of pass books and may require notice to be given before such deposits are repaid.
Neb. Rev. Stat. § 8-135 Deposits; withdrawal methods authorized; lease of safe deposit box; section; how construed.
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(1) All persons, regardless of age, may become depositors in any bank and shall be subject to the same duties and liabilities respecting their deposits. Whenever a deposit is accepted by any bank in the name of any person, regardless of age, the deposit may be withdrawn by the de…
Repealed. Laws 1974, LB 354, § 316.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-137 Checks; certification; requirements; effect.
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No officer or employee of any bank shall certify any check drawn upon such bank unless the person, firm, or corporation drawing the check has on deposit with the bank at the time such check is certified an amount of credit, on the depositors' ledger of such bank, subject to the p…
Neb. Rev. Stat. § 8-138 Deposits; receiving when insolvent; prohibition; penalty.
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No bank shall accept or receive on deposit for any purpose any money, bank bills, United States treasury notes or currency, or other notes, bills, checks, drafts, credits, or currency, when such bank is insolvent. If any bank receives or accepts on deposit any such deposits when …
Neb. Rev. Stat. § 8-139 Executive officers; approval of loans and investments; qualifications; license; revocation; violations; penalty; civil penalty; election to exempt active executive officers from license; procedure.
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(1) No loan or investment shall be made by a bank, directly or indirectly, without the approval of an active executive officer. (2) Executive officers of banks shall be persons of good moral character, known integrity, business experience and responsibility, and be capable of con…
Neb. Rev. Stat. § 8-140 Mortgage loan originator; registration.
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Any financial institution chartered by the department that employs a mortgage loan originator, as defined in section 45-702, shall register such employee with the Nationwide Mortgage Licensing System and Registry, as defined in section 45-702, by furnishing the following informat…
Neb. Rev. Stat. § 8-1401 Disclosure of confidential records or information; court order; not applicable, when; immunity.
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(1) No person organized under the Credit Union Act, the Nebraska Banking Act, the Nebraska Industrial Development Corporation Act, the Nebraska Model Business Corporation Act, the Nebraska Nonprofit Corporation Act, the Nebraska Professional Corporation Act, the Nebraska Trust Co…
Neb. Rev. Stat. § 8-1402 Provide records or information; costs.
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(1) Any person, party, agency, or organization requesting disclosure of records or information pursuant to section 8-1401 shall pay the costs of providing such records or information unless: (a) The request for disclosure is made pursuant to subdivision (1)(a) of section 8-1401 a…
Neb. Rev. Stat. § 8-1403 Terms, defined.
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For purposes of sections 8-1401, 8-1402, and 8-1404: (1) Governmental agency means any agency, department, or commission of this state or any authorized officer, employee, or agent of such agency, department, or commission; (2) Law enforcement agency means an agency or department…
Neb. Rev. Stat. § 8-1404 Death of decedent; information regarding financial or property interests; furnished; to whom; affidavit; contents; immunity from liability; applicability of section.
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(1) This section does not apply to: (a) Real property owned by a decedent; or (b) The contents of a safe deposit box rented by a decedent from a state-chartered or federally chartered bank, savings bank, building and loan association, savings and loan association, or credit union…
Neb. Rev. Stat. § 8-141 Loans; limits; exceptions.
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(1) No bank shall directly or indirectly loan to any single corporation, limited liability company, firm, or individual, including in such loans all loans made to the several members or shareholders of such corporation, limited liability company, or firm, for the use and benefit …
Neb. Rev. Stat. § 8-142 Loans; excessive amount; violations; penalty.
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Any officer, employee, director, or agent of any bank who knowingly violates or knowingly permits a violation of section 8-141 is guilty of: (1) A Class IV felony when the violation, either separately or as part of one scheme or course of conduct, results in the insolvency of the…
Neb. Rev. Stat. § 8-143 Loans; excessive amount; violations; forfeiture of charter; directors' personal liability.
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If the directors of any bank knowingly violate or knowingly permit any of the officers, employees, or agents of the bank to violate section 8-141, all rights, privileges, and franchises of the bank shall be forfeited. Before the charter of the bank is declared forfeited, the viol…
Neb. Rev. Stat. § 8-143.01 Extension of credit; limits; credit report; violation; penalty; powers of director.
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(1) No bank shall extend credit to any of its executive officers, directors, or principal shareholders or to any related interest of such persons in an amount that, when aggregated with the amount of all other extensions of credit by the bank to that person and to all related int…
Neb. Rev. Stat. § 8-144 Loans or extension of credit; improper; willful and knowing violation; liability.
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Any officer or employee of any bank who willfully and knowingly violates any provision of sections 8-141 to 8-143.01 shall be liable under his or her bond for any loss to the bank resulting therefrom.
Neb. Rev. Stat. § 8-145 Loans; other improper solicitation or receipt of benefits; unlawful inducement; penalty.
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Any stockholder or director, officer, agent, or employee of any bank who, for the use or benefit of himself or herself or any person other than the bank, solicits, asks for, or receives or agrees to receive from any person any gift or compensation or reward or inducement of any k…
Repealed. Laws 1972, LB 1358, § 1.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-147 Direct borrowing of bank; loans and investments; limitation on amounts; illegal transfer of assets; violation; penalty.
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(1) The aggregate amount of direct borrowing of any bank shall at no time exceed the amount of its paid-up capital, surplus, undivided profits, capital reserves, capital notes, and debentures, except with the prior written permission of the director. Direct borrowing does not inc…
Neb. Rev. Stat. § 8-148 Banks; own capital stock; loans on, purchase, or use as collateral by bank prohibited; exceptions.
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(1) Except as provided in subsection (2) or (3) of this section, a bank shall not make any loan or discount on the security of the shares of its own capital stock or the capital stock of its holding company, if any, be the purchaser or holder of any such shares, or purchase any s…
Neb. Rev. Stat. § 8-148.01 Corporation operating a computer center; investment of funds; limitation.
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Any bank may invest not more than ten percent of its capital and surplus either in stock of a corporation operating a computer center or directly, alone or with others, in a computer center. With written approval of the director, such additional percentage of its capital and surp…
Neb. Rev. Stat. § 8-148.02 Banks; subscribe, invest, buy, and own stock; agricultural credit corporation; livestock loan company; limitation.
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Any bank may subscribe to, invest, buy, and own stock in any agricultural credit corporation or livestock loan company, or its affiliate, the principal business of which corporation must be the extension of short and intermediate term credit to farmers and ranchers, including par…
Neb. Rev. Stat. § 8-148.03 Bonds of the State of Israel; securities; banks; savings and loan associations, insurance companies, credit unions; invest funds.
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Bonds of the State of Israel are hereby made securities in which banks, savings and loan associations, insurance companies, and credit unions may properly and legally invest funds.
Neb. Rev. Stat. § 8-148.04 Community development investments; conditions.
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(1) Any bank may make a community development investment or investments either directly or through purchasing an equity interest in or an evidence of indebtedness of an entity primarily engaged in making community development investments, if the following conditions are satisfied…
Neb. Rev. Stat. § 8-148.05 Qualified Canadian Government obligations; investment.
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(1) Any bank may deal in, underwrite, and purchase for its own account qualified Canadian Government obligations to the same extent that such bank may deal in, underwrite, and purchase for its own account obligations of the United States Government or general obligations of any s…
Neb. Rev. Stat. § 8-148.06 Banks; subscribe, invest, buy, own, and sell stock; bank subsidiaries; limitation.
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Any bank may subscribe to, invest in, buy, own, and sell the common stock, obligations, and other securities of one or more bank subsidiaries organized under the laws of the State of Nebraska. A bank shall not obligate more than thirty-five percent of its paid-up capital stock, s…
Neb. Rev. Stat. § 8-148.07 Bank subsidiary; authorized activities.
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A bank subsidiary shall engage in only those activities: (1) Prescribed under subdivision (6) of section 8-101.03; or (2) That its bank shareholder, shareholders, member, members, investor, or investors are authorized to perform under the laws of this state and shall engage in th…
Neb. Rev. Stat. § 8-148.08 Bank subsidiary; examination and regulation.
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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.
Neb. Rev. Stat. § 8-148.09 Bank; financial institution; merger, acquisition, or asset acquisition; transactions authorized.
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(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 fina…
Neb. Rev. Stat. § 8-148.10 Digital asset depository institution; investment; conditions.
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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 …
Neb. Rev. Stat. § 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.
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(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 corp…
Neb. Rev. Stat. § 8-150 Banks; real estate; power to acquire and convey; limitations and conditions.
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(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 …
Neb. Rev. Stat. § 8-1501 Terms, defined.
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For purposes of sections 8-1501 to 8-1505, unless the context otherwise requires: (1) Person means an individual, corporation, partnership, limited liability company, trust, association, joint venture, pool, syndicate, sole proprietorship, unincorporated organization, or other fo…
Neb. Rev. Stat. § 8-1502 Acquisition; notice required; exception; Director of Banking and Finance; duties.
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(1) Except as provided in subsection (2) of this section, no person acting personally or as agent shall acquire control of any state-chartered bank or trust company without first giving sixty days' notice to the Department of Banking and Finance on forms provided by the departmen…
Neb. Rev. Stat. § 8-1503 Acquisition; hearing; when required; procedure.
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Within ten days after receipt of notice of disapproval pursuant to section 8-1502, the acquiring party may request an agency hearing on the proposed acquisition. At such hearing, all issues shall be determined on the record pursuant to the administrative rules of procedure and th…
Neb. Rev. Stat. § 8-1504 Acquisition; notice; contents.
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Except as otherwise provided by rule and regulation of the department, a notice filed pursuant to section 8-1502 shall contain the following information: (1) The identity, personal history, business background, and experience of each person by whom or on whose behalf the acquisit…
Neb. Rev. Stat. § 8-1505 Acquisition; disapproval; grounds.
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The Director of Banking and Finance may disapprove any proposed acquisition if: (1) The financial condition of any acquiring person is such as might jeopardize the financial stability of the bank or trust company or prejudice the interests of the depositors of the bank or trust c…
Neb. Rev. Stat. § 8-1506 Failing financial institution; Director of Banking and Finance; powers; hearing; order; appeal.
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(1) Whenever the Department of Banking and Finance determines the acquisition of any financial institution chartered under the laws of Nebraska is necessary because its capital is impaired, it is conducting its business in an unsafe or unauthorized manner, or it is endangering th…
Neb. Rev. Stat. § 8-1506.01 Financial institution, defined.
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For purposes of sections 8-1506 to 8-1510, financial institution shall mean a bank, savings bank, savings and loan association, building and loan association, trust company, or credit union, organized under the laws of this state or organized under the laws of the United States t…
Neb. Rev. Stat. § 8-1507 Cross-industry acquisition; acquisition and operation as bank subsidiary; when authorized.
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Pursuant to section 8-1506, the Department of Banking and Finance may permit cross-industry acquisition of any failing financial institution or permit acquisition and operation of such financial institution as a bank subsidiary by a bank holding company when the department determ…
Neb. Rev. Stat. § 8-1508 Application by bank or bank holding company; terms and conditions.
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Whenever an application by a bank or a bank holding company is received by the Department of Banking and Finance to acquire any other financial institution, the following terms and conditions shall be met and such acquisitions shall be valid only when and for as long as these con…
Neb. Rev. Stat. § 8-1509 Acquisition by bank holding company; prohibited; exceptions.
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A bank holding company shall not acquire, hold, or operate a financial institution acquired under sections 8-1506 to 8-1510 or section 8-1516 located in this state as a nonbank subsidiary under section 4 of the federal Bank Holding Company Act of 1956, as amended, unless such fin…
Repealed. Laws 2017, LB140, § 163.
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[Repealed or reserved.]