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Can you summarize NERS 8-1,126?
BANKS AND BANKING > Emergencies; officers; powers.
Short Summary
This provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, grants authority to the officers of a financial institution to determine the closure of one or more of its offices in the event of an existing or impending emergency. The officers have the discretion to decide not to open or to close the offices during the emergency, even without a proclamation of emergency from the director. The closed office may remain closed until the officers determine that the emergency has ended, and they may take additional time to reopen if necessary. However, the office cannot remain closed for more than forty-eight consecutive hours, excluding other legal holidays, without seeking approval from the director. This provision does not specify any penalties or exemptions.
Whom does it apply to?
Financial institutions
What does it govern?
Emergencies, officers, powers
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska