State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter8 > 8-1_112

8-1,112. Insolvent banks; Director of Banking and Finance; payment of dividends.At any time after the expiration of the date fixed for the presentation of claims, the district court may, upon the application of the director, by order authorize the director to declare out of the funds remaining in his hands, after the payment of expenses, one or more dividends, and at the earliest possible date the director shall declare a final dividend as may be directed by the district court of the county in which the principal office of such bank is located. SourceLaws 1933, c. 18, § 69, p. 170; C.S.Supp.,1941, § 8-1,133; R.S.1943, § 8-198; Laws 1963, c. 29, § 112, p. 181.AnnotationsThis 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).