Chapter 8 — BANKS AND BANKING
750 sections in this chapter.
Neb. Rev. Stat. § 8-1715 Precious metal, defined.
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Precious metal shall mean the following in either coin, bullion, or other form: (1) Silver; (2) Gold; (3) Platinum; (4) Palladium; (5) Copper; and (6) Such other items as the director may specify by rule, regulation, or order.
Neb. Rev. Stat. § 8-1716 Sale or sell, defined.
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Sale or sell shall mean every sale, contract of sale, contract to sell, or disposition, for value.
Neb. Rev. Stat. § 8-1717 Sale or purchase of commodity; prohibited; exception.
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Except as otherwise provided in section 8-1718 or 8-1719, no person shall sell or purchase or offer to sell or purchase any commodity under any commodity contract or under any commodity option or offer to enter into or enter into as seller or purchaser any commodity contract or a…
Neb. Rev. Stat. § 8-1717.01 Failure to make physical delivery; defense.
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It shall be a defense in any complaint, information, indictment, writ, or proceeding brought under the Commodity Code alleging a violation of section 8-1717 based solely on the failure in an individual case to make physical delivery within the applicable time period under subdivi…
Neb. Rev. Stat. § 8-1718 Transactions; authorized purchaser or seller.
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(1) Section 8-1717 shall not apply to any transaction offered by and in which any of the following persons, or any employee, officer, or director of such person acting solely in that capacity, is the purchaser or seller: (a) A person registered with the Commodity Futures Trading …
Neb. Rev. Stat. § 8-1719 Transaction; accounts or contracts authorized; director; adopt rules and regulations.
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(1) Section 8-1717 shall not apply to the following: (a) An account, agreement, or transaction within the exclusive jurisdiction of the Commodity Futures Trading Commission as granted under the Commodity Exchange Act; (b) A commodity contract for the purchase of one or more preci…
Repealed. Laws 1975, LB 279, § 75.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-1720 Commodity merchant; board of trade; requirements.
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(1) No person shall engage in a trade or business or otherwise act as a commodity merchant unless such person (a) is registered or temporarily licensed with the Commodity Futures Trading Commission for each activity constituting such person as a commodity merchant and such regist…
Neb. Rev. Stat. § 8-1721 Prohibited acts.
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(1) No person shall directly or indirectly (a) cheat, defraud, or attempt to cheat or defraud any other person or employ any device, scheme, or artifice to defraud any other person, (b) make any false report, enter any false record, or make any untrue statement of a material fact…
Neb. Rev. Stat. § 8-1721.01 Cause of action under commodity contract authorized; exception; statute of limitations; waiver of compliance with code; void.
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(1) Any person who violates section 8-1721 shall be liable to the purchaser who may sue either at law or in equity to recover the consideration paid under the commodity contract, including interest paid under a financing agreement in connection with the purchase, costs, and reaso…
Neb. Rev. Stat. § 8-1722 Liability; joint and several.
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(1) The act, omission, or failure of any official, agent, or other person acting for any individual, association, partnership, limited liability company, corporation, or trust within the scope of his or her employment or office shall be deemed the act, omission, or failure of suc…
Neb. Rev. Stat. § 8-1723 Securities Act of Nebraska; applicability of code.
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Nothing in the Commodity Code shall impair, derogate, or otherwise affect the authority or powers of the director under the Securities Act of Nebraska or the application of any provision of the act to any person or transaction subject to such act.
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…
Repealed. Laws 1965, c. 141, § 2, p. 482.
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[Repealed or reserved.]
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.
Repealed. Laws 2004, LB 999, § 56.
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[Repealed or reserved.]
Repealed. Laws 2004, LB 999, § 56.
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[Repealed or reserved.]
Repealed. Laws 2004, LB 999, § 56.
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[Repealed or reserved.]
Repealed. Laws 2004, LB 999, § 56.
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[Repealed or reserved.]
Repealed. Laws 2004, LB 999, § 56.
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[Repealed or reserved.]
Repealed. Laws 2004, LB 999, § 56.
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[Repealed or reserved.]
Repealed. Laws 2004, LB 999, § 56.
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[Repealed or reserved.]
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…