Nebraska Statutes 8-119. Capital stock; sale; compensation prohibited; false statement; penalties
No corporation organized for the purpose of conducting a bank under the laws of this state shall be granted the charter provided in section 8-122 until the corporation has filed with the department a statement, under oath, of the president or cashier of such corporation that no premium, bonus, commission, compensation, reward, salary, or other form of remuneration has been paid, or promised to be paid, to any person for selling the stock of such corporation. The president or cashier of any such corporation who shall be found guilty of filing a false statement under the provisions of this section is guilty of a Class I misdemeanor. If, after such charter has been delivered, the director determines, after a public hearing, that such statement is false, the department shall cancel such charter, and a receiver shall be appointed for such corporation in the manner provided for in case of a corporation which is conducting a bank in an unsafe or unauthorized manner.
Source
- Laws 1919, c. 190, tit. V, art. XVI, § 54, p. 708;
- C.S.1922, § 8034;
- C.S.1929, § 8-128;
- R.S.1943, § 8-130;
- Laws 1963, c. 29, § 19, p. 141;
- Laws 1967, c. 19, § 5, p. 119;
- Laws 1973, LB 164, § 7;
- Laws 1977, LB 40, § 41;
- Laws 2017, LB140, § 20.
Attorney's Note
Under the Nebraska Statutes, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Class I misdemeanor | up to 1 year | up to $1,000 |
Terms Used In Nebraska Statutes 8-119
- 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