Nebraska § 8-183.01 - State or federal savings association; conversion to state bank; plan of conversion; procedure.
Full text of Nebraska Revised Statutes of Nebraska § 8-183.01 — State or federal savings association; conversion to state bank; plan of conversion; procedure., with citation guidance and answers to common questions.
§ 8-183.01. State or federal savings association; conversion to state bank; plan of conversion; procedure.
(1) Any state or federal savings association, whether formed as a mutual association or a capital stock association, may apply to the director to convert to a state bank.
(2) Any savings association seeking to convert its form of organization pursuant to this section shall first obtain approval of a plan of conversion by resolution adopted by not less than a two-thirds majority vote of the total number of directors authorized to vote.
(3) Upon approval of a plan of conversion by the board of directors, such plan and the resolution approving it shall be submitted to the director. The director shall approve the plan of conversion if he or she finds, after appropriate investigation, that:
(a) The plan of conversion is fair and equitable;
(b) The interests of the applicant, its members or shareholders, its savings account holders, and the public are adequately protected; and
(c) The converting savings association has complied with the requirements of this section.
(4) If the director approves the plan of conversion, the approval shall be in writing and sent to the home office of the converting savings association. As part of its approval, the director may prescribe terms and conditions to be fulfilled either before or after the conversion to cause the converting savings association to conform to the requirements of the Nebraska Banking Act.
(5) If the director disapproves the plan of conversion, the reasons for such disapproval shall be stated in writing and sent to the home office of the converting savings association, which shall be afforded an opportunity to amend and resubmit the plan within a reasonable period of time as prescribed by the director. In the event the director disapproves the plan after such resubmission, written notice of such final disapproval shall be sent by certified mail to the savings association's home office.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 8-183.01
What does Revised Statutes of Nebraska § 8-183.01 cover?
Section 8-183.01 ("State or federal savings association; conversion to state bank; plan of conversion; procedure.") is part of the Revised Statutes of Nebraska, the codified statutory law of Nebraska. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nebraska § 8-183.01?
A common citation format is "Revised Statutes of Nebraska § 8-183.01" (Nebraska). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nebraska law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nebraska official source linked on this page or consult a licensed Nebraska attorney.
How does Nebraska § 8-183.01 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nebraska can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nebraska.