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Can you summarize NERS 8-1,115?
BANKS AND BANKING > Insolvent banks; liquidation; reports to district court; dissolution of bank; cancellation of charter.
Short Summary
The director shall from time to time make and file with the clerk of the district court of the county in which the main office of the insolvent bank is located a report of his or her acts of liquidation of each insolvent bank. He or she shall, upon the completion of the liquidation, file a final report, notice of which shall be given as the court may direct, and on hearing thereon and approval thereof by the court such liquidation shall be declared closed and the corporation dissolved. The director shall then cancel the charter issued to such bank pursuant to section 8-122. Source: Laws 1933, c. 18, 68, p. 170; C.S.Supp.,1941, 8-1,132; R.S.1943, 8-1,101; Laws 1963, c. 29, 115, p. 182; Laws 2017, LB140, 111. Annotations This section does not constitute an unlawful delegation of judicial power to an executive department of government. Department of Banking v. Hedges, 136 Neb. 382, 286 N.W. 277 (1939).
Jurisdiction
Nebraska