Nebraska Statutes 8-114. Banks; corporate status required; unlawful banking; penalty
Current as of: 2023 | Check for updates
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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 until such corporation has complied with all the provisions and requirements of the Nebraska Banking Act.
Attorney's Note
Under the Nebraska Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class V misdemeanor | up to $100 |
Terms Used In Nebraska Statutes 8-114
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: shall include bodies politic and corporate, societies, communities, the public generally, individuals, partnerships, limited liability companies, joint-stock companies, and associations. See Nebraska Statutes 49-801
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
(2) Any violation of this section is a Class V misdemeanor for each day of the continuation of such offense and is cause for the appointment of a receiver as provided in the act to wind up such banking business.
Source
- Laws 1909, c. 10, § 2, p. 66;
- R.S.1913, § 281;
- Laws 1919, c. 190, tit. V, art. XVI, § 3, p. 686;
- C.S.1922, § 7984;
- C.S.1929, § 8-115;
- R.S.1943, § 8-111;
- Laws 1963, c. 29, § 14, p. 139;
- Laws 1977, LB 40, § 39;
- Laws 1987, LB 2, § 3;
- Laws 1998, LB 1321, § 3;
- Laws 2017, LB140, § 15.