Nebraska Revised Statute 8-193

Chapter 8 Section 193

8-193.

Banks; redelivery of possession; bond; departmental supervision; repossession by department.

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 the liabilities of such bank by such officers, directors, stockholders, or owners within a stated time, and the bond is approved by the director, then the department shall turn over all the assets of such bank to the officers, directors, stockholders, or owners of the bank furnishing the bond, reserving the same right to require report of the condition and to examine into the affairs of the bank as existed in the department previous to its closing. If, upon such examination, it is found by the department that the officers, directors, stockholders, or owners are not closing up the affairs of the bank in such manner as to discharge its liabilities and to close up its affairs in a manner satisfactory to the department within a reasonable time, the department shall take immediate possession of the bank for liquidation under the Nebraska Banking Act.

Source

  • Laws 1919, c. 190, tit. V, art. XVI, § 8, p. 688;
  • C.S.1922, § 7989;
  • Laws 1923, c. 191, § 13, p. 444;
  • C.S.1929, § 8-189;
  • Laws 1933, c. 18, § 51, p. 161;
  • C.S.Supp.,1941, § 8-189;
  • R.S.1943, § 8-179;
  • Laws 1963, c. 29, § 93, p. 171;
  • Laws 1987, LB 2, § 13;
  • Laws 1998, LB 1321, § 18;
  • Laws 2017, LB140, § 90.
  • Operative Date: August 24, 2017

Annotations

  • Agreement between stockholders of bank and its depositors and creditors under which bank officers were to liquidate bank does not contravene statute where Department of Banking accepted bank officers' joint and several liability in lieu of surety bond. Department of Banking v. Walker, 131 Neb. 732, 269 N.W. 907 (1936).