US Laws, Codes, Statutes & Cases

The available funds of a bank shall consist of cash on hand and balances due from other solvent banks approved by the department. Cash shall include lawful money of the United States and exchange for any clearinghouse association. Whenever the available funds or any reserve of any bank are deemed deficient by the department, such bank shall not make any new loans or discount otherwise than by discounting or purchasing bills of exchange payable at sight or make any dividends of its profits until it has on hand available funds and reserve deemed sufficient for operation by the department. The department shall notify any bank, in case its available funds or reserves are deemed deficient or its capital is impaired, to make good such available funds, reserves, or capital within such time as the department may direct, and any failure of such bank to make good any deficiency in the amount of its available funds, reserve, or capital within the time directed shall be cause for the director to take possession of such bank, declare it insolvent, and liquidate it as provided in the Nebraska Banking Act.

Laws 1909, c. 10, § 23, p. 77

R.S.1913, § 302

Laws 1919, c. 190, tit. V, art. XVI, § 23, p. 695

C.S.1922, § 8004

C.S.1929, § 8-135

Laws 1933, c. 18, § 24, p. 147

C.S.Supp.,1941, § 8-135

R.S.1943, § 8-137

R.R.S.1943, § 8-137

Laws 1963, c. 29, § 32, p. 147

Laws 1965, c. 28, § 1, p. 200

Laws 1987, LB 2, § 9

Laws 1998, LB 1321, § 9

Laws 2003, LB 217, § 4