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Can you summarize NERS 8-1,124?
BANKS AND BANKING > Emergencies; terms, defined.
Short Summary
This legal document, as part of the Nebraska Revised Statutes governing banks and banking, defines the terms related to emergencies in the context of financial institutions. An emergency is defined as any condition or occurrence that physically interferes with normal business operations or poses a threat to the safety or security of persons or property. This includes events such as fire, flood, earthquake, hurricane, labor disputes, power failure, transportation failure, robbery, enemy attack, epidemic, riot, civil commotion, and other acts of lawlessness or violence. The document also defines financial institutions as banks, savings banks, building and loan associations, savings and loan associations, credit unions, trust companies, or any of their offices chartered by the department. Additionally, it clarifies that an office refers to any place where a financial institution conducts its business or related operations. The document further specifies that officers are individuals designated by the governing body of a financial institution to act in emergencies, or in their absence, the president or any other officer in charge. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Financial institutions
What does it govern?
Emergencies
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska