Nebraska Statutes 8-708. Insolvent bank; Federal Deposit Insurance Corporation as receiver or liquidator; title to property
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Upon the acceptance of the appointment of receiver or liquidator aforesaid by the Federal Deposit Insurance Corporation, the possession of and title to all the assets, business and property of such banking institution of every kind and nature shall pass to and vest in said corporation and without the execution of any instruments of conveyance, assignment, transfer or endorsement.
Source
- Laws 1935, c. 8, § 8, p. 75;
- C.S.Supp.,1941, § 8-408;
- R.S.1943, § 8-708.
Terms Used In Nebraska Statutes 8-708
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.