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Can you summarize NERS 8-701?
BANKS AND BANKING > Banking institution; definition.
Short Summary
For purposes of sections 8-701 to 8-709, banking institution means any bank, stock savings bank, mutual savings bank, building and loan association, digital asset depository institution under the Nebraska Financial Innovation Act, or savings and loan association, which is now or may hereafter be organized under the laws of this state. Source: Laws 1935, c. 8, 1, p. 72; C.S.Supp.,1941, 8-401; R.S.1943, 8-701; Laws 2003, LB 217, 15; Laws 2005, LB 533, 21; Laws 2017, LB140, 138; Laws 2021, LB649, 45. Cross References Nebraska Financial Innovation Act, see section 8-3001. Annotations A state bank which becomes a member of Federal Deposit Insurance Corporation thereby becomes an instrumentality of the United States, and federal statute forbidding embezzlement of funds of member bank applies to officer of such bank. United States v. Doherty, 18 F.Supp. 793 (D. Neb. 1937), affirmed, 94 F.2d 495 (8th Cir. 1938).
Jurisdiction
Nebraska