Nebraska Statutes 8-133. Rate of interest; prohibited acts; penalties; pledge of letters of credit authorized
(1)(a) Except as provided in this section, a bank may pay interest at any rate on any deposits made or retained in the 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 IV felony | up to 2 years | up to $10,000 |
Terms Used In Nebraska Statutes 8-133
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Federal Deposit Insurance Corporation: A government corporation that insures the deposits of all national and state banks that are members of the Federal Reserve System. Source: OCC
- 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
- Trustee: A person or institution holding and administering property in trust.
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
(b) A bank shall not pay to any officer, director, principal stockholder, or employee a greater rate of interest on the deposits of such officer, director, principal stockholder, or employee than that paid to other depositors on similar deposits with such bank. Any person who causes the payment of a greater rate of interest on such deposits is guilty of a Class IV felony. Any officer, director, principal stockholder, or employee who requests or receives a greater rate of interest on his or her deposits than that paid to other depositors on similar deposits with such bank is guilty of a Class IV felony.
(2) Any officer, director, principal stockholder, or employee of a bank or any other person who, directly or indirectly, and either personally or for the bank, pledges any assets of the bank, except as provided in this section or otherwise by law, for making or retaining a deposit in the bank is guilty of a Class IV felony. Any depositor who accepts any such pledge of assets is guilty of a Class IV felony. Deposits made in violation of this section are not entitled to priority of payment from the assets of the bank.
(3) A bank may secure deposits made by a trustee under 11 U.S.C. § 101 et seq. by pledge of the assets of the bank or by furnishing a surety bond as provided in 11 U.S.C. § 345.
(4) A bank may secure deposits made by the United States Secretary of the Interior on behalf of any individual Indian or any Indian tribe under 25 U.S.C. § 162a by a pledge of the assets of the bank or by furnishing an acceptable bond as provided in 25 U.S.C. § 162a.
(5) A bank may secure deposits by a pledge of the assets of the bank or by furnishing an acceptable bond as provided in the Public Funds Deposit Security Act.
(6) Nothing in this section shall prohibit a bank or any officer, director, stockholder, or employee thereof from providing to a depositor a guaranty bond which provides coverage for the deposits of the depositor which are in excess of the amounts insured by the Federal Deposit Insurance Corporation.
(7) Nothing in this section shall prohibit a bank or any officer, director, stockholder, or employee thereof from providing to a depositor an irrevocable, nontransferable, unconditional standby letter of credit issued by the Federal Home Loan Bank of Topeka which provides coverage for the deposits of the depositor which are in excess of the amounts insured by the Federal Deposit Insurance Corporation.
(8) For purposes of this section, principal stockholder means a person owning ten percent or more of the voting shares of the bank.
Source
- Laws 1909, c. 10, § 27, p. 79;
- Laws 1911, c. 8, § 27, p. 81;
- R.S.1913, § 306;
- Laws 1919, c. 190, tit. V, art. XVI, § 27, p. 696;
- Laws 1921, c. 313, § 1, p. 1001;
- C.S.1922, § 8008;
- Laws 1925, c. 28, § 1, p. 119;
- C.S.1929, § 8-140;
- Laws 1930, Spec. Sess., c. 6, § 8, p. 30;
- Laws 1933, c. 18, § 26, p. 148;
- C.S.Supp.,1941, § 8-140;
- R.S.1943, § 8-142;
- Laws 1959, c. 15, § 12, p. 136;
- R.R.S.1943, § 8-142;
- Laws 1963, c. 29, § 33, p. 147;
- Laws 1977, LB 40, § 43;
- Laws 1978, LB 966, § 1;
- Laws 1980, LB 966, § 1;
- Laws 1990, LB 956, § 1;
- Laws 1994, LB 979, § 1;
- Laws 1996, LB 1053, § 4;
- Laws 2003, LB 217, § 5;
- Laws 2009, LB74, § 1;
- Laws 2017, LB140, § 32.