Nebraska § 8-305 - Corporate name; requirements; penalty.

§ 8-305. Corporate name; requirements; penalty.

The words loan and building association, building association, building and loan association, savings and loan association, or loan and savings association, shall form part of the corporate name of every such corporation. No person, firm, company, corporation, or association operating in the State of Nebraska, unless (1) organized under authority of the federal government, (2) organized as a building and loan association under the authority of any foreign state and complying with the provisions of the Nebraska statutes, (3) organized and incorporated under and in accordance with the provisions of sections 8-301 to 8-384, or (4) having been in existence and doing business in Nebraska under its present name for a period of ten years prior to January 1, 1949, shall, after August 27, 1949, use in its name the words loan and building association, building and loan association, savings and loan association, loan and savings association, loan and building, building and loan, savings and loan, loan and savings, building and savings, or savings and building, in combination with any other word or words, except that an entity with a pending application for a loan and building association, building association, building and loan association, savings and loan association, or loan and savings association may use the words loan and building association, building association, building and loan association, savings and loan association, or loan and savings association as part of the corporate name of such entity, provided that if the entity's application is withdrawn or denied, the entity shall cease using the words loan and building association, building association, building and loan association, savings and loan association, or loan and savings association, as any part of its corporate name within thirty days after the withdrawal or denial of the application. Any person, firm, company, corporation, or association violating this section shall be guilty of a Class V misdemeanor for each offense. Each day such person, firm, or corporation shall use any such prohibited words shall be deemed a separate and distinct offense in violation of this section.