8-120. Corporation; application to conduct, merge, or transfer bank; contents.

326 words·~1 min read·/ne/chapter-8/8-120

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Every corporation organized for and desiring to conduct a bank or to conduct a bank for purposes of a merger with an existing bank shall make under oath and transmit to the department a complete detailed application giving

(a)the name of the proposed bank;

(b)a copy of the proposed articles of incorporation;

(c)the names of the stockholders;

(d)the county, city, or village and the exact location therein in which such bank is proposed to be located;

(e)the nature of the proposed banking business;

(f)the proposed amounts of paid-up capital stock and surplus, and the items of actual cash and property, as reported and approved at a meeting of the stockholders, to be included in such amounts; and

(g)a statement that at least twenty percent of the amounts stated in subdivision

(f)of this subsection have in fact been paid in to the corporation by its stockholders.

(2)In the case of a merger, the existing bank which is to be merged into shall complete an application and meet the requirements of this section.

(3)This section also applies when application is made for transfer of a bank charter and move of a bank's main office to any location other than

(a)within the corporate limits of the city or village of its original charter,

(b)within the county in which it is located if such bank charter is not located in a city or village, or

(c)as provided in subdivision

(6)of section 8-115.01 .

Where it appears in an error proceeding that an administrative agency acted within its jurisdiction and there is some competent evidence to sustain its findings and order, the order will be sustained. First Nat. Bank of Bellevue v. Southroads Bank, 189 Neb. 748, 205 N.W.2d 346 (1973).

Preliminary statement, without articles of incorporation, was sufficient. First Nat. Bank & Trust Co. of Beatrice v. Ley, 182 Neb. 164, 153 N.W.2d 743 (1967).