(1) The department shall remit all fees, charges, and costs collected by the department pursuant to the Nebraska Money Transmitters Act to the State Treasurer for credit to the Financial Institution Assessment Cash Fund. (2) The department shall remit fines collected under the act to the State Treasurer for distribution in accordance with Article VII, section 5, of the Constitution of Nebraska. Source: Laws 2013, LB616, 47.

Nothing in section 8-157.01 shall prohibit building and loan associations as defined in sections 8-301 to 8-340.01 from establishing and operating new automatic teller machines for the purpose of transmitting savings and loan transactions. Source: Laws 1975, LB 508, 2; Laws 1993, LB 81, 53; Laws 2000, LB 932, 14; Laws 2003, LB 131, 6; Laws 2016, LB760, 4.

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.

This section of the Nebraska Revised Statutes governs the requirements for banking institutions organized under the laws of Nebraska to obtain membership in the Federal Deposit Insurance Corporation (FDIC) and provide insurance for deposits. It specifies that before a charter is issued, a banking institution must enter into contracts and incur obligations necessary for FDIC membership. Banking institutions are allowed to take advantage of various benefits and privileges available to FDIC members.

This legal provision authorizes the Federal Deposit Insurance Corporation (FDIC) to act as a receiver or liquidator for banking institutions that have closed due to their inability to meet depositor demands. The FDIC can accept the appointment as receiver or liquidator from the appropriate state authority. In such cases, the FDIC will possess all the powers and privileges provided by state laws for a receiver or liquidator of a banking institution, including the rights and duties towards depositors and other creditors.

Whenever any banking institution shall have been closed as aforesaid, and the Federal Deposit Insurance Corporation shall pay or make available for payment the insured deposit liabilities of such closed institution, the corporation, whether or not it shall have become receiver or liquidator of such closed banking institution as herein provided, shall be subrogated to all rights against such closed banking institution of the owners of such deposits in the same manner and to the same extent as subrogation of the corporation is provided for in subsection (1) of section 12B of the Federal Reserve Act, as amended (being section 8, of the Banking Act of 1933) in the case of the closing of a national bank; Provided, that the rights of depositors and other creditors of such closed institution shall be determined in accordance with the applicable provisions of the laws of this state.

This provision authorizes the Director of Banking and Finance in Nebraska to exercise discretion in accepting examinations and reports conducted by other regulatory agencies in lieu of conducting their own examinations of banking institutions. The Director may accept examinations conducted by the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, the Consumer Financial Protection Bureau, or a foreign state agency, provided a copy of the examination is furnished to the Director.

This provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, allows the Director of Banking and Finance to provide copies of examinations and reports of banking institutions to specified entities. The entities include the Federal Deposit Insurance Corporation, the Federal Reserve Board, the Comptroller of the Currency, the Consumer Financial Protection Bureau, and foreign state agencies, officials, and examiners. The Director is also required to disclose any information possessed by their office regarding the conditions or affairs of insured institutions.

This legal document, found in the Nebraska Revised Statutes under the section on Banks and Banking, governs the actions related to insolvent banks. It allows the Director of Banking and Finance or the receiver/liquidator of a closed banking institution to borrow from the Federal Deposit Insurance Corporation (FDIC) and provide the assets of the institution as security for the loan. However, if the FDIC is acting as the receiver or liquidator, a court order must be obtained before approving the loan.

Upon the acceptance of the appointment of receiver or liquidator aforesaid by the Federal Deposit Insurance Corporation, the possession of and title to all the assets, business and property of such banking institution of every kind and nature shall pass to and vest in said corporation and without the execution of any instruments of conveyance, assignment, transfer or endorsement. Source: Laws 1935, c. 8, 8, p. 75; C.S.Supp.,1941, 8-408; R.S.1943, 8-708.