The trust department of a bank when chartered under sections 8-159 to 8-161 shall be separate and apart from every other department of the bank and shall have all of the powers, duties, and obligations of a trust company provided in the Nebraska Trust Company Act. Source: Laws 1959, c. 19, 4, p. 144; Laws 1961, c. 14, 7, p. 108; R.R.S.1943, 8-1,121; Laws 1963, c. 29, 62, p. 159; Laws 1993, LB 81, 12; Laws 1998, LB 1321, 13.

Any bank authorized to transact a trust company business in a trust department pursuant to sections 8-159 to 8-162 may conduct such trust company business at the office of any bank which is a subsidiary of the same bank holding company as the authorized bank. Source: Laws 1993, LB 81, 13.

This legal document governs the handling of fiduciary accounts controlled by a bank’s trust department. It allows banks to deposit or have on deposit funds of a fiduciary account, unless prohibited by applicable law. The bank is required to set aside collateral as security for the funds that are awaiting investment or distribution. The collateral must be under the control of appropriate fiduciary officers and bank employees. The bank may maintain the investments off-premises if consistent with applicable law and if adequate safeguards and controls are in place.

This legal provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, governs the withdrawal of capital or surplus by banks. According to this provision, no bank is allowed to withdraw or permit the withdrawal of any part of its capital or surplus without written permission from the director. If the bank has sustained losses equal to or exceeding the retained net income, dividends cannot be made without the written permission of the director.

This legal provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, governs the declaration of dividends by the board of directors of any bank. The document outlines two conditions that must be met before dividends can be declared. Firstly, all bad debts that have been required to be charged off by either the board of directors or the department must have been charged off. Additionally, any debts due to the bank on which interest is past due and unpaid for a period of six months, unless they are well secured or in the process of collection, are considered bad debts.

Any losses sustained by any bank in excess of its undivided profits shall be charged to its surplus fund. Its surplus fund shall thereafter be reimbursed from the earnings, and no dividends shall thereafter be declared or paid by any such bank, without the written permission of the director, until such surplus fund shall be fully restored to its former amount. Source: Laws 1923, c. 191, 38, p. 458; C.S.1929, 8-144; R.

This legal document, governed by the Nebraska Revised Statutes, pertains to banks and banking. It requires every bank to submit at least two reports to the department each year. The reports must be in the prescribed form and certified as correct by specified individuals. Additionally, two members of the board of directors must also certify the reports. However, the director has the authority to waive this requirement if the bank files its reports electronically with the Federal Deposit Insurance Corporation, the Federal Reserve Board, or an electronic collection agent of the Federal Deposit Insurance Corporation or the Federal Reserve Board.

This legal document pertains to the reporting requirements for banks to the department. It states that each report required by section 8-166 should exhibit in detail the resources and liabilities of the bank at the close of business on a specified past day. The report should be submitted to the department within thirty days or as required by the department after receiving a requisition for the report. The purpose of this requirement is to ensure a full statement of the transactions of the officers concerning the business done by them in their official capacities as officers and agents of the bank.

A bank shall furnish special reports as may be required by the director to enable the department to obtain full and complete knowledge of the condition of the bank. Source: Laws 1909, c. 10, 19, p. 76; R.S.1913, 298; Laws 1919, c. 190, tit. V, art. XVI, 19, p. 693; C.S.1922, 8000; C.S.1929, 8-131; Laws 1933, c. 18, 21, p. 145; C.S.Supp.,1941, 8-131; R.S.1943, 8-133; Laws 1963, c. 29, 68, p.