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591 sections in this chapter.
Neb. Rev. Stat. § 8-1724 Code, how construed.
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The Commodity Code may be construed and implemented to effectuate its general purpose to protect investors, to prevent and prosecute illegal and fraudulent schemes involving commodity contracts, and to maximize coordination with federal and other states' law and the administratio…
Neb. Rev. Stat. § 8-1725 Director; investigation; enforcement; powers.
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(1) The director may make investigations, within or without this state, as he or she finds necessary or appropriate to: (a) Determine whether any person has violated or is about to violate any provision of the Commodity Code or any rule, regulation, or order of the director; or (…
Neb. Rev. Stat. § 8-1726 Violations of code; director; powers.
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(1) If the director believes, whether or not based upon an investigation conducted under section 8-1725, that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of the Commodity Code or any rule, regulation, or order unde…
Neb. Rev. Stat. § 8-1727 Violations of code; civil remedies.
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(1) Upon a proper showing by the director that a person has violated or is about to violate any provision of the Commodity Code or any rule, regulation, or order of the director, the court may grant appropriate legal or equitable remedies. (2) Upon a showing of a violation of the…
Neb. Rev. Stat. § 8-1728 Violations of commodity code of foreign state; remedies.
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(1) Upon a proper showing by the director or securities or commodity agency of a foreign state that a person other than a government or governmental agency or instrumentality has violated or is about to violate any provision of the commodity code of such state or any rule, regula…
Neb. Rev. Stat. § 8-1729 Violations of code; criminal penalties; enforcement.
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(1) Any person who willfully violates any provision of the Commodity Code or any rule, regulation, or order of the director under the code shall, upon conviction, be guilty of a Class IV felony. (2) Any person convicted of violating a rule, regulation, or order under the code may…
Neb. Rev. Stat. § 8-173 Actions against bank on claims inconsistent with records; accrual of cause of action; limitations.
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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…
Neb. Rev. Stat. § 8-1730 Code; administration; use of information for personal gain or benefit prohibited; public information; confidentiality; privilege.
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(1) The Commodity Code shall be administered by the Department of Banking and Finance. Neither the director nor any employees of the director shall use any information which is filed with or obtained by the director which is not public information for personal gain or benefit, no…
Neb. Rev. Stat. § 8-1731 Uniform application and interpretation of code; securities regulation and enforcement; governmental cooperation; authorized.
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(1) To encourage uniform application and interpretation of the Commodity Code and securities regulation and enforcement in general, the director and the employees of the director may cooperate, including bearing the expense of the cooperation, with the securities agencies or dire…
Neb. Rev. Stat. § 8-1732 Director; adopt rules and regulations; standards.
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(1) In addition to specific authority granted elsewhere in the Commodity Code, the director may adopt and promulgate rules, regulations, and orders as are necessary to carry out the code. Such rules and regulations shall include, but not be limited to, rules and regulations defin…
Neb. Rev. Stat. § 8-1733 Service of process.
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When a person, including a nonresident of this state, engages in conduct prohibited or made actionable by the Commodity Code or any rule, regulation, or order of the director, the engaging in the conduct shall constitute sufficient contact with this state for the exercise of pers…
Neb. Rev. Stat. § 8-1734 Purchase, sale, or offer within state; laws applicable; exceptions.
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(1) Sections 8-1717, 8-1720, and 8-1721 shall apply to persons who sell or offer to sell when (a) an offer to sell is made in this state or (b) an offer to buy is made and accepted in this state. (2) Sections 8-1717, 8-1720, and 8-1721 shall apply to persons who buy or offer to b…
Neb. Rev. Stat. § 8-1735 Administrative proceeding; notice of intent; summary order; notice; hearing.
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(1) The director shall commence an administrative proceeding under the Commodity Code by entering either a notice of intent to do a contemplated act or a summary order. The notice of intent or summary order may be entered without notice, without opportunity for hearing, and need …
Neb. Rev. Stat. § 8-1736 Appeal; procedure.
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(1) Any person aggrieved by a final order of the director may obtain a review of the order in the district court of Lancaster County by filing, within sixty days after the entry of the order, a written petition praying that the order be modified or set aside in whole or in part. …
Neb. Rev. Stat. § 8-1737 Exemption; burden of proof.
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It shall not be necessary to refute the existence of any of the exemptions of the Commodity Code in any complaint, information, or indictment or any writ or proceeding brought under the code, and the burden of proof of any such exemption shall be upon the party claiming the same.
Neb. Rev. Stat. § 8-174 Records and files; destruction; applicable to national banks.
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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.
Neb. Rev. Stat. § 8-175 Banks; false entry or statement; other offenses relating to books and records; penalty.
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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 affa…
Neb. Rev. Stat. § 8-177 Banks; consolidation; approval required; creditors' claims.
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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…
Neb. Rev. Stat. § 8-178 National bank; reorganization as state bank; authorization; vote required; trust company business; conversion; public hearing; when.
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(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 c…
Neb. Rev. Stat. § 8-179 National bank; reorganization as state bank; procedure; trust company business; charter.
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(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 state…
Neb. Rev. Stat. § 8-180 State bank; reorganization as national bank; vote required.
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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.
Neb. Rev. Stat. § 8-181 National or state bank; conversion, merger, or consolidation; resulting bank; considered same corporate entity; termination of franchise.
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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…
Neb. Rev. Stat. § 8-182 State bank; conversion, merger, or consolidation with a national bank; objecting stockholders; stock; payment.
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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 …
Neb. Rev. Stat. § 8-183 National or state bank; conversion, merger, or consolidation; resulting bank; assets; valuation.
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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 exa…
Neb. Rev. Stat. § 8-183.01 State or federal savings association; conversion to state bank; plan of conversion; procedure.
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(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 …
Neb. Rev. Stat. § 8-183.02 State or federal savings association; plan of conversion; approval.
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(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…
Neb. Rev. Stat. § 8-183.03 State or federal savings association; conversion to state bank; requirements.
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(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 propose…
Neb. Rev. Stat. § 8-183.04 State or federal savings association; mutual savings association; retention of mutual form authorized.
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(1) Notwithstanding any other provision of the Nebraska Banking Act or any other Nebraska law, a state or federal savings association which was formed and in operation as a mutual savings association as of July 15, 1998, may elect to retain its mutual form of corporate organizati…
Neb. Rev. Stat. § 8-183.05 State or federal savings association; issuance of state bank charter; effect; section, how construed.
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(1) Upon the issuance of a state bank charter to a converting savings association, the corporate existence of the converting savings association shall not terminate, but such bank shall be a continuation of the entity so converted and all property of the converted savings associa…
Neb. Rev. Stat. § 8-184 Voluntary liquidation; approval required; examination; fees.
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Whenever any bank shall desire to go into voluntary liquidation, it shall first obtain the written consent of the director who may, before granting such request, order a special examination of the affairs of such bank, for which the same fees may be collected as in regular examin…
Neb. Rev. Stat. § 8-185 Voluntary liquidation; procedure.
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Any bank may voluntarily liquidate by paying off all its depositors in full. The bank so liquidating shall file a certified statement with the department, setting forth the fact that all its liabilities have been paid and naming its stockholders with the amount of stock held by e…
Neb. Rev. Stat. § 8-186 Bank; possession; voluntary surrender to department; notice; posting; liens dissolved.
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Any bank may place its affairs and assets under the control of the department by posting on its door the following notice: This bank is in the hands of the Department of Banking and Finance. The posting of such notice, or the taking possession of any bank by the department or by …
Neb. Rev. Stat. § 8-187 Banks; department may take possession; when; examination of affairs; liens dissolved; retention of possession.
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Whenever it appears to the director from any examination or report provided for by the laws of this state that (1) the capital of any bank is impaired, (2) a bank is conducting its business in an unsafe or unauthorized manner, (3) a bank is endangering the interests of its deposi…
Neb. Rev. Stat. § 8-188 Banks; possession by department; effective upon notice.
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The director or any deputy, counsel, or examiner authorized by the director may, on behalf of the department, take possession of a bank by handing to the president, cashier, or any person in charge of the bank, a written notice that the bank is in the possession of the department…
Neb. Rev. Stat. § 8-189 Banks; attempted prevention of possession by department; penalty.
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Any officer, director, or employee of a bank who attempts to prevent the department from taking possession of such bank is guilty of a Class I misdemeanor.
Neb. Rev. Stat. § 8-190 Banks; possession by department; refusal to deliver; possession by banks; application for court order.
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Whenever any bank refuses or neglects to deliver possession of its affairs, assets, or property of whatever nature to the department or to any person ordered or appointed to take charge of such bank according to the Nebraska Banking Act, the director shall make an application to …
Neb. Rev. Stat. § 8-1901 Terms, defined.
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For purposes of sections 8-1901 to 8-1903, unless the context otherwise requires: (1) Department means the Department of Banking and Finance; and (2) Financial institution means: (a) A bank, savings bank, building and loan association, savings and loan association, credit union, …
Neb. Rev. Stat. § 8-1902 Name of financial institution; use of similar names unlawful; power of department.
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It shall be unlawful for two or more financial institutions in the same city, village, or county in this state to have or use the same name or names so nearly alike as to cause confusion in transacting business. In all cases in which a similarity of names now exists, or may herea…
Neb. Rev. Stat. § 8-1903 Rules and regulations.
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The department may adopt and promulgate rules and regulations to carry out the purposes of sections 8-1901 and 8-1902.
Neb. Rev. Stat. § 8-191 Banks; possession by department; notice to banks and trust companies; notice or knowledge of possession forestalls liens.
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Upon taking possession of the property and business of any bank, the department shall immediately give notice of such fact by letter or electronic mail to all banks or trust companies holding or in possession of any assets of such bank, so far as known by the department. No bank …
Neb. Rev. Stat. § 8-192 Banks; possession by department; inventory of assets and liabilities; filing.
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Upon taking charge of any bank, the director shall cause to be made an inventory in triplicate of all the property, assets, and liabilities of the bank so far as the property, assets, and liabilities of the bank can be ascertained. One copy of the inventory shall be filed with th…
Neb. Rev. Stat. § 8-193 Banks; redelivery of possession; bond; departmental supervision; repossession by department.
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Whenever the officers, directors, stockholders, or owners of any insolvent bank give good and sufficient bond running to the department with an incorporated surety company authorized by the laws of this state to transact such business, conditioned upon the full settlement of all …
Neb. Rev. Stat. § 8-194 Insolvent banks; determination; declaration by director; filing.
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Upon determination of insolvency of any bank by the director and failure of the stockholders or owners to restore solvency within the time and in the manner provided by law, or upon violation of the laws of the state by the bank, the director shall make a finding in writing of th…
Neb. Rev. Stat. § 8-195 Insolvent banks; possession by department; petition to enjoin; show cause order; findings by district court; disposition of case.
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Whenever any bank of whose property and business the department has taken possession or whose insolvency has been declared under section 8-194 deems itself aggrieved by such actions, it may, at any time not later than ten days after such declaration of insolvency has been filed w…
Neb. Rev. Stat. § 8-196 Insolvent banks; liquidation; injunction; appeal; bond.
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An appeal under section 8-195 shall operate as a stay of judgment of the district court, and no bond need be given if the appeal is taken by the director. If the appeal is taken by the bank, a bond shall be given as required by law for an appeal in civil cases.
Neb. Rev. Stat. § 8-197 Insolvent banks; liquidation by Federal Deposit Insurance Corporation or by liquidating trustees.
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(1) Pending final judgment on the petition to enjoin under section 8-195, the department shall retain possession of the property and business of the bank. If not enjoined, the director shall proceed to liquidate the affairs of the bank as provided in the Nebraska Banking Act, exc…
Neb. Rev. Stat. § 8-198 Financial institutions; designation of receiver and liquidating agent; department; powers.
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The department may be designated the receiver and liquidating agent for any financial institution chartered by the department and, subject to the district court's supervision and control, may proceed to liquidate such financial institution or reorganize it in accordance with the …
Neb. Rev. Stat. § 8-199 Financial institutions; department as receiver; powers; no compensation to director.
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Whenever the department has been designated receiver for a financial institution chartered by the department, the department shall have all the powers and privileges provided by the laws of this state with respect to any other receiver and such incidental powers as shall be neces…
Neb. Rev. Stat. § 8-2001 Terms, defined.
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For purposes of sections 8-2001 to 8-2005, the following definitions are used: (1) Depository institution means a state-chartered or federally chartered financial institution located in this state that is authorized to maintain deposit accounts; (2) Compliance review committee me…
Neb. Rev. Stat. § 8-2002 Sections; applicability.
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Sections 8-2001 to 8-2005 apply to a compliance review committee whose functions are to evaluate and seek to improve: (1) Loan underwriting standards; (2) Asset quality; (3) Financial reporting to federal or state regulatory agencies; or (4) Compliance with federal or state statu…