Chapter 8 — BANKS AND BANKING
750 sections in this chapter.
Neb. Rev. Stat. § 8-1109.01 Registration of securities; denial, suspension, or revocation; additional grounds.
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The director may issue an order denying effectiveness to, or suspend or revoke the effectiveness of, a registration statement to register securities by qualification if he or she finds that the conditions in subdivision (1) of section 8-1109, or if he or she finds that any of the…
Neb. Rev. Stat. § 8-1109.02 Registration of securities; order of denial, suspension, or revocation; notice; request for hearing; modification of order.
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Upon the entry of an order denying effectiveness to or suspending or revoking the effectiveness of a registration statement to register securities under any part of section 8-1109 or 8-1109.01, the director shall promptly notify the issuer of the securities and the applicant or r…
Neb. Rev. Stat. § 8-111 Director; real estate; power to convey; execution of conveyance.
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The director may convey any real estate title which is vested in the department by operation of law or otherwise. Such conveyance shall be signed by the director, sealed with the seal of the department, and acknowledged by the director.
Neb. Rev. Stat. § 8-1110 Securities exempt from registration.
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Sections 8-1104 to 8-1109 shall not apply to any of the following securities: (1) Any security, including a revenue obligation, issued or guaranteed by the State of Nebraska, any political subdivision, or any agency or corporate or other instrumentality thereof or any certificate…
Neb. Rev. Stat. § 8-1111 Transactions exempt from registration.
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Except as provided in this section, sections 8-1103 to 8-1109 shall not apply to any of the following transactions: (1) Any isolated transaction, whether effected through a broker-dealer or not; (2)(a) Any nonissuer transaction by a registered agent of a registered broker-dealer,…
Neb. Rev. Stat. § 8-1112 Registrant; subject to personal jurisdiction.
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Registering as a broker-dealer, issuer-dealer, agent, investment adviser, or investment adviser representative under the Securities Act of Nebraska or directly or indirectly offering a security or investment adviser services in this state shall constitute sufficient contact with …
Neb. Rev. Stat. § 8-1113 False or misleading filings; unlawful.
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It shall be unlawful for any person to make or cause to be made, in any document filed with the director or in any proceeding under the Securities Act of Nebraska, any statement which is, at the time and in the light of the circumstances under which it is made, false or misleadin…
Neb. Rev. Stat. § 8-1114 Unlawful representation concerning merits of registration or exemption.
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Neither the fact that an application for registration or notice filing under section 8-1103, a notice filing under section 8-1108.02, or a registration statement under section 8-1106 or 8-1107 has been filed, nor the fact that a person or security is effectively registered, shall…
Neb. Rev. Stat. § 8-1115 Investigations; subpoena; director; powers.
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(1) The director in his or her discretion (a) may make such public or private investigations within or without this state as he or she deems necessary to determine whether any registration should be granted, denied, or revoked or whether any person has violated or is about to vio…
Neb. Rev. Stat. § 8-1115.01 Investigation or other proceeding; prohibited acts.
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It shall be unlawful for any person with respect to any investigation or other proceeding under the Securities Act of Nebraska to: (1) Alter, destroy, mutilate, or conceal; (2) make a false entry in or by any means falsify; or (3) remove from any place or withhold from investigat…
Neb. Rev. Stat. § 8-1116 Violations; injunction; receiver; appointment; additional court orders authorized.
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Whenever it appears to the director that any person has engaged or is about to engage in any act or practice constituting a violation of any provision of the Securities Act of Nebraska or any rule and regulation or order under the act, the director may in his or her discretion br…
Neb. Rev. Stat. § 8-1117 Violations; penalty.
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(1) Any person who willfully violates any provision of the Securities Act of Nebraska except section 8-1113, or who willfully violates any rule and regulation or order under the act, or who willfully violates the provisions of section 8-1113 knowing the statement made to be false…
Neb. Rev. Stat. § 8-1118 Violations; damages; statute of limitations.
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(1) Any person who offers or sells a security in violation of section 8-1104 or offers or sells a security by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made in the light of the circumstances…
Neb. Rev. Stat. § 8-1119 Appeal; procedure.
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Any person aggrieved by a final order of the director may appeal the order, and the appeal shall be in accordance with the Administrative Procedure Act.
Neb. Rev. Stat. § 8-112 Director; records required; disclosures prohibited; confidential records.
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(1) The director shall keep, as records of his or her office, proper books showing all acts, matters, and things done under the jurisdiction of the department. Neither the director nor anyone connected with the department shall in any instance disclose the name of any customer, i…
Neb. Rev. Stat. § 8-1120 Administration of act; Director of Banking and Finance; powers and duties; use of information for personal benefit prohibited; Securities Act Cash Fund; created; use; investment; transfers; document filed, when.
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(1) Except as otherwise provided in this section, the Securities Act of Nebraska shall be administered by the Director of Banking and Finance who may employ such deputies, examiners, assistants, or counsel as may be reasonably necessary for the purpose thereof. The employment of …
Neb. Rev. Stat. § 8-1121 Exemption or exception; burden of proof.
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In any proceeding under the Securities Act of Nebraska, the burden of proving an exemption or an exception from a definition shall be upon the person claiming it.
Neb. Rev. Stat. § 8-1122 Act; how construed.
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The Securities Act of Nebraska shall be construed as to effectuate its general purpose to make uniform the law of those states which enact it and to coordinate the interpretation and administration of the act with the related federal regulation.
Neb. Rev. Stat. § 8-1122.01 Federal limits rejected.
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The federal limits on the registration of securities, dealers, brokers, broker-dealers, agents, and investment advisers as provided in the federal Philanthropy Protection Act of 1995, Public Law 104-62, shall not apply in Nebraska and are hereby rejected by the State of Nebraska …
Neb. Rev. Stat. § 8-1123 Act, how cited.
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Sections 8-1101 to 8-1123 shall be known and may be cited as the Securities Act of Nebraska.
Repealed. Laws 1988, LB 795, § 8.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-113 Unauthorized use of word bank or its derivatives; penalty.
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(1) No individual, firm, company, corporation, or association doing business in the State of Nebraska, unless organized as a bank under the Nebraska Banking Act or the authority of the director or federal government, a digital asset depository that is not a digital asset deposito…
Neb. Rev. Stat. § 8-114 Banks; corporate status required; unlawful banking; penalty.
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(1) It is unlawful for any person to conduct a bank within this state except by means of a corporation duly organized for such purpose under the laws of this state. It is unlawful for any corporation to receive money upon deposit or conduct a bank under the laws of this state unt…
Neb. Rev. Stat. § 8-115 Banks; digital asset depositories; charter required.
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No corporation shall conduct a bank or digital asset depository in this state without having first obtained a charter in the manner provided in the Nebraska Banking Act or the Nebraska Financial Innovation Act, respectively.
Neb. Rev. Stat. § 8-115.01 Banks; new charter; transfer of charter; procedure.
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When an application required by section 8-120 is made by a corporation, the following procedures shall be followed: (1) Except as provided for in subdivision (2) of this section, when application is made for a new bank charter, a public hearing shall be held on each application. …
Neb. Rev. Stat. § 8-116 Banks; capital stock; amount required.
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(1) Except as provided in subsection (2) of this section, a charter for a bank shall not be issued unless the corporation applying therefor has surplus and paid-up capital stock in an amount not less than the amount necessary for compliance with subsection (1) of section 8-702 fo…
Neb. Rev. Stat. § 8-116.01 Banks; capital notes and debentures; issuance; conditions.
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With the approval of the director, any bank may at any time, through action of its board of directors and without requiring any action of its stockholders, issue and sell its capital notes or debentures. Such capital notes or debentures shall be subordinate and subject to the cla…
Neb. Rev. Stat. § 8-117 Conditional bank charter; application; contents; hearing; notice; expenses; conversion to full bank charter; extension; written request; notice of expiration.
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(1)(a) The director may grant approval for a conditional bank charter which may remain inactive for an initial period of up to eighteen months. (b) The purpose for which a conditional bank charter may be granted is limited to the acquisition or potential acquisition of a financia…
Repealed. Laws 2002, LB 1094, § 19.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-118 Banks; unlawful promotion; sale of stock prior to issuance of charter; penalty.
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(1) It shall be unlawful for any person for hire (a) to promote or attempt to promote the organization of a corporation to conduct the business of a bank in this state or (b) to sell the capital stock of such a corporation prior to the issuance of a charter to such corporation au…
Neb. Rev. Stat. § 8-119 Capital stock; sale; compensation prohibited; false statement; penalties.
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No corporation organized for the purpose of conducting a bank under the laws of this state shall be granted the charter provided in section 8-122 until the corporation has filed with the department a statement, under oath, of the president or cashier of such corporation that no p…
Neb. Rev. Stat. § 8-120 Corporation; application to conduct, merge, or transfer bank; contents.
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(1) Every corporation organized for and desiring to conduct a bank or to conduct a bank for purposes of a merger with an existing bank shall make under oath and transmit to the department a complete detailed application giving (a) the name of the proposed bank; (b) a copy of the …
Repealed. Laws 1995, LB 384, § 35.
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[Repealed or reserved.]
Repealed. Laws 1995, LB 384, § 35.
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[Repealed or reserved.]
Repealed. Laws 1995, LB 384, § 35.
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[Repealed or reserved.]
Repealed. Laws 1995, LB 384, § 35.
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[Repealed or reserved.]
Repealed. Laws 1995, LB 384, § 35.
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[Repealed or reserved.]
Repealed. Laws 1995, LB 384, § 35.
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[Repealed or reserved.]
Repealed. Laws 2017, LB140, § 163.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-122 Issuance of charter to transact business.
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(1) After the examination and approval by the Director of Banking and Finance of the application required by section 8-120, if the director upon investigation and after any public hearing on the application held pursuant to section 8-115.01 shall be satisfied that the stockholder…
Repealed. Laws 2002, LB 1094, § 19.
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[Repealed or reserved.]
Transferred to section 8-1902.
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[Repealed or reserved.]
Neb. Rev. Stat. § 8-124 Banks; board of directors; president; meetings; examination; audit.
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(1) The affairs and business of any bank shall be managed or controlled by a board of directors of not less than five and not more than twenty-five members, who shall be selected at such time and in such manner as may be provided by the articles of incorporation of the corporatio…
Neb. Rev. Stat. § 8-124.01 Banks; board of directors; vacancy; notice; filling; application for approval.
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At any time that a vacancy on the board of directors of a bank occurs, the bank shall, within thirty days, notify the department of the vacancy. Vacancies shall be filled within ninety days by appointment by the remaining directors, and any director so appointed shall serve until…
Neb. Rev. Stat. § 8-125 Banks; board of directors; meetings; record; contents; publication.
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A full and complete record of the proceedings and business of all meetings of the board of directors shall be recorded in the bank's minutes. Such record of the meetings shall show the gross earnings and disposition thereof by indicating expenses and taxes paid, worthless items c…
Neb. Rev. Stat. § 8-126 Bank directors; qualifications; approval by department; revocation of approval; procedure.
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(1) Reasonable efforts shall be made for a majority of the members of the board of directors of any bank to have their primary residences (a) in this state, (b) within twenty-five miles of the main office of the bank, (c) in the county in which the main office of such bank is loc…
Neb. Rev. Stat. § 8-127 List of stockholders; open to inspection; violation; penalty.
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(1) Every bank shall cause to be kept at all times a full and correct list of the names and residences of all its stockholders, the number of shares held by each, and the amount of paid-up capital represented thereby. Such list shall be subject to the inspection of all stockholde…
Neb. Rev. Stat. § 8-128 Capital stock; increase; decrease; notice; publication; denial by director, when.
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The paid-in capital stock of any bank may be increased or decreased in the following manner: The stockholders at any regular meeting or at any special meeting duly called for such purpose shall by vote of those owning two-thirds of the capital stock authorize an officer of the ba…
Neb. Rev. Stat. § 8-129 Stockholders' meeting; director may call; notice; expense.
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Whenever the director deems it expedient, he or she may call a meeting of the stockholders of any bank by sending notice of such meeting to each stockholder five days previous thereto. All necessary expenses incurred in the giving of such notice shall be borne by the bank whose s…
Neb. Rev. Stat. § 8-130 Federal reserve system; membership by state banks and trust companies authorized; examinations.
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Any bank or trust company, organized under the laws of this state, may subscribe to the capital stock of the Federal Reserve Bank of Kansas City, Missouri, and become a member of the federal reserve system created and organized under an act of Congress of the United States, appro…