Nebraska § 8-219 - Liquidation; reorganization; adjudication of insolvency; grounds; powers and duties of Department of Banking and Finance.
Full text of Nebraska Revised Statutes of Nebraska § 8-219 — Liquidation; reorganization; adjudication of insolvency; grounds; powers and duties of Department of Banking and Finance., with citation guidance and answers to common questions.
§ 8-219. Liquidation; reorganization; adjudication of insolvency; grounds; powers and duties of Department of Banking and Finance.
Whenever (1) it appears to the Department of Banking and Finance from any examination or report provided for by the Nebraska Trust Company Act that the capital stock of any trust company transacting business under the act is impaired, or that the trust company is conducting its business in an unsafe or unauthorized manner, or that the trust company is endangering the interest of the beneficiaries for whom it holds property in trust, (2) the officers or employees of the trust company refuse to submit its books, papers, and affairs to the inspection of any examiner, (3) any officer thereof refuses to be examined upon oath touching the affairs of the trust company, or (4) from any examination or report provided for by law, the department has reason to conclude that the trust company is in an unsafe or unsound condition to transact the business for which it is organized or that it is unsafe and inexpedient for it to continue its business, the department shall take charge of the trust company and proceed to reorganize or to liquidate the trust company in the manner provided for the liquidation of insolvent banks. If the trust company neglects or refuses to observe any lawful order of the department, then the department may cause a suit to be brought in the name of the State of Nebraska upon the relation of the Department of Banking and Finance against the trust company in the district court of the county in which the trust company is chartered for the purpose of having the trust company adjudged insolvent and its business wound up.
Source: official Nebraska text · Last verified 2026-08-27
Frequently Asked Questions About Nebraska § 8-219
What does Revised Statutes of Nebraska § 8-219 cover?
Section 8-219 ("Liquidation; reorganization; adjudication of insolvency; grounds; powers and duties of Department of Banking and Finance.") 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 § 8-219?
A common citation format is "Revised Statutes of Nebraska § 8-219" (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 § 8-219 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.