State Codes and Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter8 > 8-1_115

8-1,115. Insolvent banks; liquidation; reports to district court; dissolution of bank; cancellation of certificate and charter.The director shall from time to time make and file with the clerk of the district court of the county in which the insolvent bank is located, a report of his acts of liquidation of each insolvent bank. He shall, upon the completion of the liquidation, file a final report, notice of which shall be given as the court may direct, and on hearing thereon and approval thereof by the court such liquidation shall be declared closed and the corporation dissolved. The director shall then cancel the certificate and charter issued to such bank pursuant to sections 8-121 and 8-122. SourceLaws 1933, c. 18, § 68, p. 170; C.S.Supp.,1941, § 8-1,132; R.S.1943, § 8-1,101; Laws 1963, c. 29, § 115, p. 182.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).