(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. (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.
Neb. Rev. Stat. § 8-114
Banks; corporate status required; unlawful banking; penalty
Applied in 1 court decision — leading case In Re Invol. Dissol. of Battle Creek Bank (1998)
Most recently applied in In Re Invol. Dissol. of Battle Creek Bank (March 1998)
Laws 1909, c. 10, § 2, p. 66; R.S.1913, § 281; Laws 1919, c. 190, tit
Official source: Nebraska Legislature. Reproduced from public-domain Nebraska statutes; confirm against the official source for the current text. Not legal advice.