Nebraska Statutes 8-177. Banks; consolidation; approval required; creditors’ claims
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Any bank, which is in good faith winding up its business for the purpose of consolidating with some other financial institution, may transfer its resources and liabilities to the financial institution with which it is in the process of consolidation, but no consolidation shall be made without the consent of the director, nor shall such consolidation operate to defeat the claim of any creditor or hinder any creditor in the collection of his or her debt against any such bank or financial institution.
Terms Used In Nebraska Statutes 8-177
- Financial institution: means a bank, savings bank, building and loan association, savings and loan association, credit union, or trust company, or any office thereof, chartered by the department. See Nebraska Statutes 8-1,124
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Process: shall mean a summons, subpoena, or notice to appear issued out of a court in the course of judicial proceedings. See Nebraska Statutes 49-801