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Can you summarize NERS 8-1,107?
BANKS AND BANKING > Insolvent banks; claims; listing and classification; notice to claimant; filing of objection; powers and duties of director.
Short Summary
This legal document, part of the Nebraska Revised Statutes governing banks and banking, outlines the process for handling claims against insolvent banks. After the expiration of the time for presenting claims, the director is required to thoroughly investigate all claims and file a complete list of valid claims, along with a list of invalid claims, with the district court. The director also has the power to allow or reject claims based on their classification. If a claim is reclassified or rejected, the director must serve written notice to the claimant and provide them with an opportunity to file objections. The document also includes historical annotations and clarifies that it does not constitute an unlawful delegation of judicial power to the executive department of government.
Whom does it apply to?
Insolvent banks and claimants.
What does it govern?
Insolvent banks; claims; listing and classification; notice to claimant; filing of objection; powers and duties of director.
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska