Chapter 8 — BANKS AND BANKING
750 sections in this chapter.
Neb. Rev. Stat. § 8-217 Pledged securities; substitute; when required.
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If the interest on any security pledged as provided in section 8-209 remains unpaid for thirty days after maturity, the trust company shall substitute other securities therefor.
Neb. Rev. Stat. § 8-218 Examination; powers and duties of Department of Banking and Finance.
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The Department of Banking and Finance or any duly appointed examiner authorized by it may make a full examination into all the books, papers, and affairs of any trust company doing business under the Nebraska Trust Company Act as often as deemed necessary. In so doing, the depart…
Neb. Rev. Stat. § 8-218.01 Inactive company; charter revoked; when; release of assets.
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Any trust company which fails to exercise trust powers for three years or which voluntarily surrenders duties associated with fiduciary accounts so that no activity is reported for a period of three years, as determined by the consecutive annual reports submitted to the Departmen…
Neb. Rev. Stat. § 8-219 Liquidation; reorganization; adjudication of insolvency; grounds; powers and duties of Department of Banking and Finance.
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Whenever (1) it appears to the Department of Banking and Finance from any examination or report provided for by the Nebraska Trust Company Act that the capital stock of any trust company transacting business under the act is impaired, or that the trust company is conducting its b…
Neb. Rev. Stat. § 8-220 Liquidation; adjudication of insolvency; procedure; powers of district court; liens dissolved.
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The suit referred to in section 8-219 shall be conducted as a civil action under the laws of Nebraska. If in the suit the court finds that the trust company is insolvent, it shall enter a judgment of insolvency and order that the business of the trust company shall be wound up. T…
Repealed. Laws 2003, LB 130, § 143.
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[Repealed or reserved.]
Transferred to section 30-3883.
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[Repealed or reserved.]
Transferred to section 30-3884.
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[Repealed or reserved.]
Transferred to section 30-3885.
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[Repealed or reserved.]
Transferred to section 30-3886.
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[Repealed or reserved.]
Repealed. Laws 2003, LB 130, § 143.
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[Repealed or reserved.]
Repealed. Laws 2003, LB 130, § 143.
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[Repealed or reserved.]
Repealed. Laws 2003, LB 130, § 143.
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[Repealed or reserved.]
Transferred to section 30-3887.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-221 Liquidation; insolvency; injunction to prevent transaction of business.
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If the judge of the district court of the county where the suit is filed is absent therefrom, any judge of the Court of Appeals or Supreme Court may grant the injunction as provided in section 8-220 with the same force and effect as if it had been granted by the district judge. A…
Transferred to section 30-3888.
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[Repealed or reserved.]
Transferred to section 30-3889.
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[Repealed or reserved.]
Repealed. Laws 2003, LB 130, § 143.
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[Repealed or reserved.]
Repealed. Laws 2003, LB 130, § 143.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-222 Maximum liability.
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The maximum liability which may be incurred by any trust company organized under the Nebraska Trust Company Act, exclusive of money or properties held in trust and exclusive of money borrowed for investment and actually invested in real estate mortgages and other securities in wh…
Neb. Rev. Stat. § 8-223 Statements required; when; annual report, defined; penalty.
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(1) The trust company shall file with the Department of Banking and Finance during the months of January and July of each year a statement under oath of the condition of the trust company on the last business day of the preceding December and June in the manner and form required …
Neb. Rev. Stat. § 8-224 Reports; form; publication; trust company; disclosure statement.
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(1) The reports required by section 8-223 shall be verified by one of the managing officers, and a summary of the annual report, in a form prescribed by the Department of Banking and Finance, shall, within thirty days after the filing of the statement with the department, be publ…
Neb. Rev. Stat. § 8-224.01 Prohibited acts; violation; penalties; applicability.
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(1) No charge shall be allowed against an estate or trust for legal services performed by an attorney who is a salaried employee of the trust company or when a portion of the charge for legal service is retained by the trust company. Any officer or employee of the trust company c…
Neb. Rev. Stat. § 8-225 False statement or book entry; destruction or secretion of records; penalty.
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Any person who swears to any of the statements required by the Nebraska Trust Company Act, knowing them to be false, who subscribes to, makes, or causes to be made any false statement or false entry in the books of any trust company transacting a business under the act, who subsc…
Neb. Rev. Stat. § 8-226 Trust terms; use restricted; penalty.
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(1) No individual, firm, corporation, or association doing business directly or indirectly in the State of Nebraska shall use the words trust, trust company, trust association, or trust fund as any part of its title except: (a) A trust company as defined in section 8-230; (b) A t…
Neb. Rev. Stat. § 8-227 State trust company; merger or consolidation with national banking association; procedure.
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Any state trust company, with the approval of the Department of Banking and Finance, may, upon a vote of the holders of at least two-thirds of its capital stock, merge or consolidate with a national banking association, as provided by federal law, by causing a certificate to be f…
Neb. Rev. Stat. § 8-228 State trust company; merger or consolidation with a national bank; effect.
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When a state trust company has merged or consolidated with a national bank, the resulting national bank and trust company shall be considered the same business and corporate entity as the former national bank and the former trust company and as a continuation thereof and the owne…
Neb. Rev. Stat. § 8-229 State trust company; merger or consolidation with a national bank; redemption of stock; when; value, how determined.
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When the merger or consolidation becomes effective, the owner of shares of a state trust company which were voted against a merger or consolidation with a national bank shall be entitled to receive the value of the stock in cash from the assets of the state trust company when the…
Neb. Rev. Stat. § 8-229.01 State trust company; merger or consolidation with state bank; procedure.
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Any state trust company, with the approval of the Department of Banking and Finance, may, upon a vote of the holders of at least two-thirds of its capital stock, merge or consolidate with any state bank which has obtained powers to conduct a trust business pursuant to the Nebrask…
Neb. Rev. Stat. § 8-229.02 State trust company; merger or consolidation with a state bank; effect.
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When a state trust company has merged or consolidated with a state bank, the resulting state bank and trust company shall be considered the same business and corporate entity as the former state bank and the former trust company and as a continuation thereof. The ownership and ti…
Neb. Rev. Stat. § 8-229.03 State trust company; merger or consolidation with a state bank; redemption of stock; when; value, how determined.
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When the merger or consolidation becomes effective, the owner of shares of a trust company which were voted against a merger or consolidation with a state bank shall be entitled to receive the value of the stock in cash from the assets of the state trust company upon written dema…
Neb. Rev. Stat. § 8-230 Terms, defined.
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For purposes of the Nebraska Trust Company Act, unless the context otherwise requires: (1) Agency capacity means a capacity resulting from an undertaking to act alone or jointly with others primarily as agent for another in all matters connected with its undertaking, including th…
Neb. Rev. Stat. § 8-2301 Act, how cited.
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Sections 8-2301 to 8-2313 shall be known and may be cited as the Interstate Trust Company Office Act.
Neb. Rev. Stat. § 8-2302 Terms, defined.
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For purposes of the Interstate Trust Company Office Act, unless the context otherwise requires: (1) Branch trust office means an office of a trust company, other than the main or principal office of a trust company, at which a trust company may act in any fiduciary capacity or co…
Neb. Rev. Stat. § 8-2303 Nebraska state-chartered trust company; out-of-state branch trust offices; authorized.
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A Nebraska state-chartered trust company may establish and maintain branch trust offices in any other state in accordance with the laws of the other state and with the prior approval of the director. A Nebraska state-chartered trust company may conduct any activities at any branc…
Neb. Rev. Stat. § 8-2304 Nebraska state-chartered trust company; out-of-state representative trust offices; authorized.
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A Nebraska state-chartered trust company may establish and maintain representative trust offices in any other state in accordance with the laws of the other state and with the prior approval of the director. A Nebraska state-chartered trust company may not act in a fiduciary capa…
Neb. Rev. Stat. § 8-2305 Out-of-state trust company; instate branch trust offices; authorized.
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An out-of-state trust company may establish and maintain branch trust offices in Nebraska only if (1) the requirements of sections 8-2306 and 8-2307 are met and (2) the home state of the out-of-state trust company authorizes the establishment and maintenance of branch trust offic…
Neb. Rev. Stat. § 8-2306 Out-of-state trust company; instate branch trust offices; requirements; procedure.
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(1) An out-of-state trust company, in order to establish and maintain branch trust offices in Nebraska pursuant to section 8-2305, shall file written notice of the proposed transaction with the director on a form prescribed by the director on or after the date on which the out-of…
Neb. Rev. Stat. § 8-2307 Out-of-state trust company; instate branch trust offices; director; approval.
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(1) The director shall act within ninety days after receipt of notice under section 8-2306. The director may extend the ninety-day period if he or she determines that the notice raises issues that require additional information or additional time for analysis. (2) The director ma…
Neb. Rev. Stat. § 8-2308 Out-of-state trust company with instate branch trust office; representative trust offices; authorized; when.
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An out-of-state trust company which has established and maintains at least one branch trust office in this state pursuant to the Interstate Trust Company Office Act may establish and maintain representative trust offices in Nebraska only if (1) the requirements of section 8-2309 …
Neb. Rev. Stat. § 8-2309 Out-of-state trust company with instate branch trust office; representative trust offices; requirements; procedure.
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(1) An out-of-state trust company, in order to establish and maintain representative trust offices in Nebraska pursuant to section 8-2308, shall file written notice of the proposed transaction with the director on a form prescribed by the director. The notice shall include a list…
Neb. Rev. Stat. § 8-231 Trust company; substituted in fiduciary capacity for affiliated bank; application; court order; filing.
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(1) Any trust company which has been duly authorized to commence the business for which it is organized and which has made the pledge of securities required by sections 8-209 and 8-210 may file an application in the county court of the county in which an affiliated bank is locate…
Neb. Rev. Stat. § 8-2310 Out-of-state trust company without instate branch trust office; representative trust offices; authorized; when.
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An out-of-state trust company which has not established and does not maintain a branch trust office in this state may establish and maintain representative trust offices in Nebraska only if (1) the requirements of section 8-2311 are met and (2) the home state of the out-of-state …
Neb. Rev. Stat. § 8-2311 Out-of-state trust company without instate branch trust office; representative trust offices; requirements; procedure.
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(1) An out-of-state trust company, in order to establish and maintain representative trust offices in Nebraska pursuant to section 8-2310, shall file written notice of the proposed transaction with the director on a form prescribed by the director. The notice shall include, in ad…
Neb. Rev. Stat. § 8-2312 Branch trust office; representative trust office; director; powers.
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(1) The director may examine any branch trust office or representative trust office established and maintained in this state by any out-of-state state trust company as he or she deems necessary to determine whether the branch trust office or representative trust office is being o…
Neb. Rev. Stat. § 8-2313 Act, how construed.
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Nothing in the Interstate Trust Company Office Act shall be construed to authorize any Nebraska trust company or any out-of-state trust company to conduct the general business of banking at any branch trust office or representative trust office.
Neb. Rev. Stat. § 8-232 Designation of bank as fiduciary in a will or other instrument; effect.
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Each designation in a will or other instrument executed either before, on, or after September 9, 1993, in which a bank is designated as fiduciary shall be deemed a designation of the trust company substituted for the bank pursuant to sections 8-230 to 8-233 except when the will o…
Neb. Rev. Stat. § 8-233 Trust company; substituted as fiduciary; accounting; transfer of assets.
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A bank shall account jointly with the trust company which has been substituted as fiduciary for the bank pursuant to sections 8-230 to 8-233 for the accounting period during which the trust company is initially so substituted. Upon substitution pursuant to sections 8-230 to 8-233…
Neb. Rev. Stat. § 8-234 Branch trust offices authorized; procedure.
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(1) With the approval of the Director of Banking and Finance, a corporation organized to do business as a trust company under the Nebraska Trust Company Act may establish and maintain branch trust offices within this state and in any other state pursuant to section 8-2303. (2) A …
Neb. Rev. Stat. § 8-235 Representative trust offices authorized; procedure.
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(1) With the approval of the Director of Banking and Finance, a corporation organized to do business as a trust company under the Nebraska Trust Company Act may establish and maintain representative trust offices within this state and in any other state pursuant to section 8-2304…