Nebraska § 8-1602 Formation of bankers bank; requirements

Nebraska Statutes

§ 8-1602 — Formation of bankers bank; requirements

Nebraska·Ch. 8 Banks and Banking

A bankers bank may be formed with the approval of the department and subject to requirements and procedures for the issuance of a new bank charter or the transfer of an existing bank charter as provided in the Nebraska Banking Act. A bankers bank shall be a bank which is:

(1)Insured by the Federal Deposit Insurance Corporation;

(2)Owned substantially by other Nebraska banks, bank holding companies, foreign bank holding companies, or a combination of such entities; and

(3)Directly and through all its subsidiaries engaged exclusively in providing services for other banks and their officers, directors, and employees.

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A bankers bank may be formed with the approval of the department and subject to requirements and procedures for the issuance of a new bank charter or the transfer of an existing bank charter as provided in the Nebraska Banking Act. A bankers bank shall be a bank which is:
(1) Insured by the Federal Deposit Insurance Corporation;
(2) Owned substantially by other Nebraska banks, bank holding companies, foreign bank holding companies, or a combination of such entities; and
(3) Directly and through all its subsidiaries engaged exclusively in providing services for other banks and their officers, directors, and employees.

Nebraska § 8-1602 (Formation of bankers bank; requirements) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1986, LB 1123, § 2; Laws 1998, LB 1321, § 72; Laws 1999, LB 396, § 16; Laws 2006, LB 876, § 22. Cross References: Nebraska Banking Act, see section 8-101.02.