US Laws, Codes, Statutes & Cases

No individual, firm, company, corporation, or association doing business in the State of Nebraska, unless organized as a bank under the Nebraska Banking Act or the authority of the federal government, or as a building and loan association, savings and loan association, or savings bank under Chapter 8, article 3, or the authority of the federal government, shall use the word bank or any derivative thereof as any part of a title or description of any business activity. This section does not apply to (1) banks, building and loan associations, savings and loan associations, or savings banks chartered and supervised by a foreign state agency, (2) bank holding companies registered pursuant to section 8-913 if the term holding company is also used as any part of the title or description of any business activity or if the derivative banc is used, (3) mortgage bankers licensed or registered under the Mortgage Bankers Registration and Licensing Act, if the word mortgage immediately precedes the word bank or its derivative, (4) organizations described in section 501(c)(3) of the Internal Revenue Code as defined in section 49-801.01 and exempt from taxation under section 501(a) of the code, (5) trade associations which are exempt from taxation under section 501(c)(6) of the code which represent a segment of the banking or savings and loan industries, and any affiliate or subsidiary thereof, and (6) such other firms, companies, corporations, or associations as have been in existence and doing business for a period of ten years or more prior to October 19, 1963, under a name composed in part of the word bank or some derivative thereof. Any violation of this section shall be a Class V misdemeanor.

Laws 1921, c. 297, § 1, p. 949

Laws 1921, c. 313, § 1, p. 1000

C.S.1922, § 7985

Laws 1929, c. 37, § 1, p. 155

C.S.1929, § 8-116

Laws 1933, c. 18, § 12, p. 141

C.S.Supp.,1941, § 8-116

R.S.1943, § 8-113

Laws 1963, c. 29, § 13, p. 139

Laws 1977, LB 40, § 38

Laws 1987, LB 2, § 2

Laws 1998, LB 1321, § 2

Laws 2004, LB 999, § 1

Laws 2005, LB 533, § 1

Mortgage Bankers Registration and Licensing Act,see section 45-701.