Nebraska Statutes 8-118. Banks; unlawful promotion; sale of stock prior to issuance of charter; penalty
Current as of: 2023 | Check for updates
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(1) It shall be unlawful for any person for hire (a) to promote or attempt to promote the organization of a corporation to conduct the business of a bank in this state or (b) to sell the capital stock of such a corporation prior to the issuance of a charter to such corporation authorizing its operation as a bank.
Attorney's Note
Under the Nebraska Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class II misdemeanor | up to 6 months | up to $1,000 |
Terms Used In Nebraska Statutes 8-118
- 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 person violating the provisions of this section is guilty of a Class II misdemeanor.
Source
- Laws 1909, c. 10, § 13, p. 72;
- R.S.1913, § 292;
- Laws 1919, c. 190, tit. V, art. XVI, § 11, p. 689;
- Laws 1921, c. 297, § 3, p. 950;
- C.S.1922, § 7992;
- Laws 1923, c. 192, § 1, p. 463;
- C.S.1929, § 8-122;
- Laws 1935, c. 19, § 1, p. 96;
- C.S.Supp.,1941, § 8-122;
- Laws 1943, c. 19, § 3(4), p. 103;
- R.S.1943, § 8-122;
- Laws 1959, c. 15, § 6, p. 134;
- R.R.S.1943, § 8-122;
- Laws 1963, c. 29, § 18, p. 141;
- Laws 1967, c. 19, § 5, p. 119;
- Laws 1973, LB 164, § 6;
- Laws 1977, LB 40, § 40;
- Laws 2017, LB140, § 19.