Nebraska § 8-215 Pledged securities; release upon liquidation;
conditions

Nebraska Statutes

§ 8-215 — Pledged securities; release upon liquidation; conditions

Nebraska § 8-215

Ch. 8Banks and Banking

This text of Nebraska § 8-215 (Pledged securities; release upon liquidation; conditions) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 8-215 (2026).

Text

Any trust company, state or national bank or
federal savings association with a trust department, federally chartered trust
company, out-of-state
trust company authorized under the Interstate Trust Company Office Act or otherwise doing business
in this state, or out-of-state
entity acting in a fiduciary capacity in this state, upon liquidating
its business and affairs for reasons other than insolvency, may have its pledged
securities released to it upon satisfying the Department of Banking and Finance
that it has been lawfully relieved of all its duties and obligations as assignee,
receiver, or trustee, either by appointment of court or under will, and for
depository of money in court, after first having published notice three successive
weeks in some legal newspaper published in the count

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Any trust company, state or national bank or
federal savings association with a trust department, federally chartered trust
company, out-of-state
trust company authorized under the Interstate Trust Company Office Act or otherwise doing business
in this state, or out-of-state
entity acting in a fiduciary capacity in this state, upon liquidating
its business and affairs for reasons other than insolvency, may have its pledged
securities released to it upon satisfying the Department of Banking and Finance
that it has been lawfully relieved of all its duties and obligations as assignee,
receiver, or trustee, either by appointment of court or under will, and for
depository of money in court, after first having published notice three successive
weeks in some legal newspaper published in the county or, if none is published
in the county, in a legal newspaper of general circulation in the county in
which the principal place of business of the trust company, trust department
of a state or national bank or federal savings association, or federally chartered trust company is located that
all claims against such securities, whether absolute or contingent, must be
filed with the department by a day certain, not less than thirty days after
the last publication of such notice. In
the case of an out-of-state trust company authorized under the Interstate
Trust Company Office Act or otherwise doing business in this state, or in
the case of any out-of-state entity acting in a fiduciary capacity in this
state, the notice shall be published in each county in Nebraska where the
out-of-state trust company or out-of-state entity maintains an office, does
business, or acts in a fiduciary capacity, or maintained an office, conducted
business, or acted in a fiduciary capacity, within one year prior to the liquidation
of its affairs.

Legislative History

Source: Laws 1939, c. 3, § 2, p. 61; C.S.Supp.,1941, § 8-212; R.S.1943, § 8-215; Laws 1986, LB 960, § 3; Laws 1993, LB 81, § 29; Laws 1998, LB 1321, § 44; Laws 2012, LB963, § 9. Cross References: Interstate Trust Company Office Act, see section 8-2301. Annotations: Department of Banking, as liquidating agent for trust company by proceedings hereunder, is not "adverse holder", and is required to obey summary order to turn over property to bankruptcy receiver. Gamble v. Daniel, 39 F.2d 447 (8th Cir. 1930), appeal dismissed 281 U.S. 705 (1930).