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Can you summarize NERS 8-118?
BANKS AND BANKING > Banks; unlawful promotion; sale of stock prior to issuance of charter; penalty.
Short Summary
(1) It shall be unlawful for any person for hire (a) to promote or attempt to promote the organization of a corporation to conduct the business of a bank in this state or (b) to sell the capital stock of such a corporation prior to the issuance of a charter to such corporation authorizing its operation as a bank. (2) Any person violating the provisions of this section is guilty of a Class II misdemeanor. Source: Laws 1909, c. 10, 13, p. 72; R.S.1913, 292; Laws 1919, c. 190, tit. V, art. XVI, 11, p. 689; Laws 1921, c. 297, 3, p. 950; C.S.1922, 7992; Laws 1923, c. 192, 1, p. 463; C.S.1929, 8-122; Laws 1935, c. 19, 1, p. 96; C.S.Supp.,1941, 8-122; Laws 1943, c. 19, 3(4), p. 103; R.S.1943, 8-122; Laws 1959, c. 15, 6, p. 134; R.R.S.1943, 8-122; Laws 1963, c. 29, 18, p. 141; Laws 1967, c. 19, 5, p. 119; Laws 1973, LB 164, 6; Laws 1977, LB 40, 40; Laws 2017, LB140, 19.
Jurisdiction
Nebraska