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591 sections in this chapter.
Neb. Rev. Stat. § 8-336 Liquidation; insolvency; inventory; collection of assets; expenses.
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The Department of Banking and Finance, or any person authorized by it, shall, after having taken possession of the association under section 8-334, and pending the further proceedings specified in sections 8-301 to 8-340.01, prepare, or have prepared, a full and true exhibit of t…
Neb. Rev. Stat. § 8-337 Insolvency; reorganization; surrender of assets by Department of Banking and Finance.
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If at the special meeting of the shareholders they shall vote to reorganize such association, the Department of Banking and Finance, upon the consummation of the reorganization thereof, and the approval of the department, shall turn over to the new management all the books, paper…
Neb. Rev. Stat. § 8-338 Voluntary liquidation; disposition of payments, other property; duty of Department of Banking and Finance.
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If at the special meeting of the shareholders they shall vote to go into voluntary liquidation or to otherwise close up or discontinue the business of such association, the Department of Banking and Finance shall return to the shareholders all monthly payments and other payments …
Neb. Rev. Stat. § 8-339 Involuntary liquidation; duty of Department of Banking and Finance.
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If the Department of Banking and Finance after having called a meeting of the shareholders as herein provided, shall find that the association cannot be reorganized or that voluntary liquidation by the shareholders cannot be had or consummated, the department shall take charge of…
Neb. Rev. Stat. § 8-340 Rules and regulations.
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The Department of Banking and Finance has power to make such rules and regulations for the government of all associations of the character defined in sections 8-301 to 8-340.01 as may, in its judgment, seem wise and expedient.
Neb. Rev. Stat. § 8-340.01 Executive officers and employees; bonding requirements.
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Each and every executive officer and such other employees as the Department of Banking and Finance deems necessary of each building and loan association shall execute to such association and to the State of Nebraska, jointly, a corporate surety bond in an amount fixed by the depa…
Neb. Rev. Stat. § 8-345.01 Automatic teller machines; authorized.
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Nothing in section 8-157.01 shall prohibit building and loan associations as defined in sections 8-301 to 8-340.01 from establishing and operating new automatic teller machines for the purpose of transmitting savings and loan transactions.
Neb. Rev. Stat. § 8-345.02 New branch; limitation.
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No building and loan association organized under the provisions of Chapter 8, article 3, shall establish any new branch on or after March 26, 1992, except to the extent provided for banks in section 8-157.
Neb. Rev. Stat. § 8-346 Books; examination.
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(1) The Director of Banking and Finance, his or her deputy, or any duly appointed examiner shall have power to make a thorough examination into all the books, records, business, and affairs of every building and loan association organized under the laws of this state as often as …
Neb. Rev. Stat. § 8-347 State association; conversion into federal savings and loan association; procedure.
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Any building and loan association or other home financing organization by whatever name or style it may be designated, eligible to become a federal savings and loan association, may convert itself into a federal savings and loan association by following the procedure hereinafter …
Neb. Rev. Stat. § 8-348 State association; conversion into federal association; transfer of supervision; status of property owned; continuation of association.
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At the time when such conversion becomes effective as provided in section 8-347, such association shall cease to be supervised by this state and all of the property of such association, including all of its right, title and interest in and to all property of every kind and charac…
Neb. Rev. Stat. § 8-349 State associations; consolidation or merger; procedure; powers and duties of Department of Banking and Finance.
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When any savings and loan association or building and loan association organized under the laws of this state shall, by its duly qualified officers and board of directors, propose to consolidate or merge with any other savings and loan association or building and loan association…
Neb. Rev. Stat. § 8-350 Federal savings and loan association; conversion into state association; procedure.
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Any federal savings and loan association, having its principal place of business and home office in the State of Nebraska, if permitted by federal law, may convert itself into a state association under Chapter 8, article 3, and amendments thereto, in accordance with the following…
Neb. Rev. Stat. § 8-351 Federal savings and loan association; conversion into state association; certificate of approval; supervision.
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Upon the issuance by the Department of Banking and Finance of a certificate of its approval of said articles of incorporation, constitution, and bylaws, the conversion of any such federal savings and loan association into a state association shall become effective, and said assoc…
Neb. Rev. Stat. § 8-352 Federal savings and loan association; conversion into state association; status of property owned; obligation.
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All of the property of such association, including all of its right, title, and interest in and to all property of every kind and character whether real, personal, or mixed, shall immediately, by operation of law, without any conveyance or transfer whatsoever, and without any fur…
Neb. Rev. Stat. § 8-353 Federal savings and loan association; conversion into state association; effect.
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It is hereby expressly declared that said state association shall be merely a continuation of said federal savings and loan association under a new name and new jurisdiction, and such revision of its corporate structure as may be considered necessary for its proper operation unde…
Neb. Rev. Stat. § 8-355 Federal savings and loan; associations organized under laws of Nebraska; rights, privileges, benefits, and immunities; exception.
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Notwithstanding any of the provisions of Chapter 8, article 3, or any other Nebraska statute, except as provided in section 8-345.02, any association incorporated under the laws of the State of Nebraska and organized under the provisions of such article shall have all the rights,…
Neb. Rev. Stat. § 8-356 Capital stock savings and loan association, defined; capital stock; how treated.
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(1) A capital stock savings and loan association, referred to in sections 8-356 to 8-384 as a capital stock association, shall mean a financial institution incorporated under sections 8-356 to 8-384 having for its purposes the encouragement of home financing, the accumulation of …
Neb. Rev. Stat. § 8-357 Definitions, sections found.
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For purposes of sections 8-356 to 8-384, unless the context otherwise requires, the definitions found in sections 8-358 to 8-370 shall be used.
Neb. Rev. Stat. § 8-358 Association, defined.
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Association shall mean a savings and loan association, referred to as a building and loan association, or loan and building association, building association, savings and loan association, or loan and savings association, incorporated and now existing under the laws of this state…
Neb. Rev. Stat. § 8-359 Department, defined.
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Department shall mean the Department of Banking and Finance.
Neb. Rev. Stat. § 8-360 Capital accounts, defined.
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Capital accounts shall mean capital stock, undivided profits, surplus, and reserves.
Neb. Rev. Stat. § 8-361 Certificate of approval, defined.
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Certificate of approval shall mean a certificate issued by the Department of Banking and Finance and approved by the director.
Neb. Rev. Stat. § 8-362 Director, defined.
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Director shall mean the Director of Banking and Finance.
Neb. Rev. Stat. § 8-363 Existing mutual association, defined.
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Existing mutual association shall mean a mutual association which was authorized to do business in Nebraska on August 30, 1981.
Neb. Rev. Stat. § 8-364 Foreign association, defined.
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Foreign association shall mean any firm, company, association, partnership, limited liability company, or corporation actually engaged in the business of a savings and loan association which is not organized under the laws of this state or of the United States.
Neb. Rev. Stat. § 8-365 Net worth of a stock association, defined.
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Net worth of a stock association shall mean the aggregate of the capital stock account, paid-in surplus, earned surplus, legal and federal insurance reserves, and undivided profits.
Neb. Rev. Stat. § 8-366 Capital stock, defined.
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Capital stock shall mean that part of the capital or liabilities of an association representing ownership of the association and which is not subject to being withdrawn or the value paid to the holder of such stock until all other liabilities of the association have been fully li…
Neb. Rev. Stat. § 8-367 Savings deposit, defined.
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Savings deposit shall mean a savings account in an association qualified to accept deposits and on which the association pays interest or dividends, whether at a fixed or indeterminate rate.
Neb. Rev. Stat. § 8-368 Stockholder, defined.
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Stockholder shall mean a person who is a holder of record of shares in a corporation.
Neb. Rev. Stat. § 8-369 Withdrawable account, defined.
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Withdrawable account shall mean a savings deposit or other authorized account or deposit of an association which does not represent capital stock.
Neb. Rev. Stat. § 8-370 Withdrawal value, defined.
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Withdrawal value shall mean the amount paid to an association on a savings deposit plus earnings credited to such account or deposit less lawful deductions.
Neb. Rev. Stat. § 8-371 Capital stock association; organization; prerequisites.
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No capital stock association may be organized unless, prior to the filing of its articles of incorporation and bylaws, such amounts of its capital stock set forth in department rules and regulations or as the director shall deem adequate, shall have been subscribed for and paid i…
Neb. Rev. Stat. § 8-372 Capital stock association; application; contents.
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Every corporation organized for and desiring to conduct a capital stock association shall make under oath and transmit to the department a complete detailed application, giving the name of the proposed capital stock association, a certified copy of the articles of incorporation, …
Neb. Rev. Stat. § 8-373 Capital stock association; articles of incorporation; application; file information with department; examination fee.
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A copy of the articles of incorporation and bylaws of every association applying under section 8-372 shall be filed with the department together with an application for a certificate of approval and payment of the examination fee prescribed by section 8-602. The application shall…
Neb. Rev. Stat. § 8-374 Department; hearing on application; notice; purpose.
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(1) Prior to issuing a certificate of approval, the department, upon receiving an application for a stock savings and loan association, shall (a) publish notice of filing of the application for a period of three weeks in a legal newspaper published in or of general circulation in…
Neb. Rev. Stat. § 8-375 Department; issue certificate of approval; when.
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If the department, upon completion of its investigation and the public hearing of the application, is satisfied that such corporation has complied with the requirements of sections 8-356 to 8-384 and department rules and regulations, it shall issue a certificate of approval stati…
Neb. Rev. Stat. § 8-376 Capital stock association; transaction of business; conditions.
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No capital stock association shall transact any business, except the execution of its articles of incorporation, the adoption of the bylaws, and the election of directors and officers, until such association has been approved by the department and such association has submitted t…
Neb. Rev. Stat. § 8-377 Payment to person selling stock prohibited; exception.
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No corporation organized for the purpose of conducting a savings and loan association under the laws of this state shall be granted a certificate of approval if there have been any premium, bonus, commission, compensation, reward, salary, or other forms of remuneration paid or pr…
Neb. Rev. Stat. § 8-378 Mutual association; conversion to capital stock association; authorized; plan of conversion; approval required.
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(1) Any state or federal mutual association, if substantial business benefit to the applicant will result, and if otherwise permitted by federal law and regulations, may apply to convert to a state or federal capital stock association, in accordance with the provisions set forth …
Neb. Rev. Stat. § 8-379 Mutual association; conversion to capital stock association; plan of conversion; approval of members or stockholders; procedure.
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If the department approves a plan to conversion in accordance with section 8-378, such plan shall be submitted for adoption to the members or stockholders of the converting association by vote at an annual or special meeting called to consider such action. At least three weeks pr…
Neb. Rev. Stat. § 8-380 Conversion; plan of conversion; requirements.
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In any plan of conversion from a capital stock form of organization to a mutual form: (1) Each savings account holder shall receive without payment a withdrawable account of the same general class in the converted institution equal in amount and equal in time tenure to his or her…
Neb. Rev. Stat. § 8-381 Mutual association; conversion; certificate of conversion; issuance; when effective.
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If the department finds that a conversion proceeding has been completed in accordance with the requirements of sections 8-378 to 8-380 and any other applicable law and regulations, the department shall issue to the applicant a certificate of conversion, attaching as a part of suc…
Neb. Rev. Stat. § 8-382 Mutual association; conversion; effect.
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Upon the issuance to any applicant of a certificate of conversion as provided in section 8-381, the corporate existence of the converting association shall not terminate, but such association shall be a continuation of the entity so converted and all property of the converted ass…
Neb. Rev. Stat. § 8-383 State associations; consolidation or merger; procedure; proposed plan; approval; department; powers.
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When any savings and loan association or building and loan association organized under the laws of this state shall, by its duly qualified officers and board of directors, propose to consolidate or merge with any other savings and loan association or building and loan association…
Neb. Rev. Stat. § 8-384 Sections, how construed.
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In the event of an inconsistency between the provisions of sections 8-356 to 8-384 and the provisions of Chapter 8, article 3, such other provisions shall, to the extent of the inconsistency, be construed to be applicable to mutual associations only and not to the capital stock a…
Neb. Rev. Stat. § 8-501 Limitation of liability by contract; lease agreement; limitation of amount; assumption of risk; limitation of use; burden of proof.
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Any corporation, partnership, limited liability company, or person engaged in the business of maintaining and operating safety deposit boxes for storage or deposit for safekeeping of securities or valuables within this state may, in any written lease or contract governing or regu…
Neb. Rev. Stat. § 8-502 Liability; determination of applicable law.
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The liabilities of the parties to any such contract shall in all other respects be governed either by the law applicable to lessor and lessee or the law applicable to bailor and bailee, whichever basis is stipulated in the contract between the owner of the safety deposit box and …
Neb. Rev. Stat. § 8-601 Director of Banking and Finance; employees; entities chartered, licensed, or registered; levy of assessment authorized.
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The Director of Banking and Finance may employ deputies, examiners, attorneys, and other assistants as may be necessary for the administration of the provisions and purposes of the Credit Union Act, Delayed Deposit Services Licensing Act, Interstate Branching and Merger Act, Inte…
Neb. Rev. Stat. § 8-602 Department of Banking and Finance; services; schedule of fees.
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The Director of Banking and Finance shall charge and collect fees for certain services rendered by the Department of Banking and Finance according to the following schedule: (1) For filing and examining articles of incorporation, articles of association, and bylaws, except credit…