Nebraska § 8-1507 Cross-industry acquisition; acquisition and operation as bank subsidiary; when authorized

Nebraska Statutes

§ 8-1507 — Cross-industry acquisition; acquisition and operation as bank subsidiary; when authorized

Nebraska § 8-1507

Ch. 8Banks and Banking

This text of Nebraska § 8-1507 (Cross-industry acquisition; acquisition and operation as bank subsidiary; when authorized) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 8-1507 (2026).

Text

Pursuant to section  8-1506 , the Department of Banking and Finance may permit cross-industry acquisition of any failing financial institution or permit acquisition and operation of such financial institution as a bank subsidiary by a bank holding company when the department determines the acquisition of any of the financial institutions is necessary because its capital is impaired, it is conducting its business in an unsafe or unauthorized manner, or it is endangering the interests of depositors or savers. If the acquiring institution is a bank, it may continue to operate such financial institution in its original form notwithstanding its denomination as a bank subsidiary. Acquisitions by any financial institution under sections  8-1506  to  8-1510  or section  8-1516  shall be deemed to 

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Pursuant to section 8-1506 , the Department of Banking and Finance may permit cross-industry acquisition of any failing financial institution or permit acquisition and operation of such financial institution as a bank subsidiary by a bank holding company when the department determines the acquisition of any of the financial institutions is necessary because its capital is impaired, it is conducting its business in an unsafe or unauthorized manner, or it is endangering the interests of depositors or savers. If the acquiring institution is a bank, it may continue to operate such financial institution in its original form notwithstanding its denomination as a bank subsidiary. Acquisitions by any financial institution under sections 8-1506 to 8-1510 or section 8-1516 shall be deemed to be of the same nature as an acquisition of a state-chartered bank and shall follow such rules or regulations as may be established by the Director of Banking and Finance for acquisition of state-chartered banks by a bank holding company.

Legislative History

Source: Laws 1983, LB 241, § 2; Laws 1983, LB 239, § 4; Laws 1990, LB 956, § 13; Laws 1995, LB 456, § 2; Laws 1996, LB 1275, § 4; Laws 2002, LB 1089, § 9; Laws 2003, LB 217, § 26.