Nebraska § 8-339 Involuntary liquidation; duty of Department of Banking and Finance

Nebraska Statutes

§ 8-339 — Involuntary liquidation; duty of Department of Banking and Finance

Nebraska § 8-339

Ch. 8Banks and Banking

This text of Nebraska § 8-339 (Involuntary liquidation; duty of Department of Banking and Finance) 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. § 8-339 (2026).

Text

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 such building and loan association and proceed to liquidate such association in the manner provided for the liquidation of insolvent banks.

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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 such building and loan association and proceed to liquidate such association in the manner provided for the liquidation of insolvent banks.

Legislative History

Source: Laws 1899, c. 17, § 19f, p. 97; R.S.1913, § 509; Laws 1919, c. 190, tit. V, art. XIX, § 25, p. 734; C.S.1922, § 8107; C.S.1929, § 8-324; Laws 1933, c. 18, § 85, p. 179; C.S.Supp.,1941, § 8-324; R.S.1943, § 8-339. Annotations: Alleged sovereign right to city of Lincoln to priority of payment out of assets of bankrupt trust company is inconsistent with Nebraska legislation and not within the common law of the state. City of Lincoln, Neb. v. Ricketts, 84 F.2d 795 (8th Cir. 1936).