Ask Reggi Your Question Now
Can you summarize NERS 8-1,134?
BANKS AND BANKING > Violations; director; powers; fines; notice; hearing; closure; emergency powers; service; procedures.
Short Summary
This legal document, part of the Nebraska Revised Statutes governing Banks and Banking, outlines the procedures and powers of the director in cases of violations. The director has the authority to serve a written complaint upon an alleged violator, specifying the violation and ordering necessary corrective action. The alleged violator has the right to request a hearing before the director within ten days of receiving the order. The director conducts a fair hearing, makes findings of fact and conclusions of law, and issues an order to further the purposes of the relevant statutes and regulations. The director may impose fines, not exceeding $10,000 for the first offense and $25,000 for subsequent offenses of the same provision. The fines and costs are collected by the director and remitted to the State Treasurer. Failure to pay the fine or costs may result in a lien on the assets and property of the violator. In emergency situations, the director may issue immediate orders without notice or hearing to protect the safety and soundness of financial institutions. The document also specifies the procedures for serving notices, conducting hearings, and the closure of public hearings when necessary to protect individuals or the public interest.
Whom does it apply to?
Alleged violators, persons named in the order, any other person who appeared at the hearing and made written request for notice of the order
What does it govern?
Violations, director powers, fines, notice, hearing, closure, emergency powers, service, procedures
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A fine not exceeding $10,000 per violation for the first offense and $25,000 per violation for a second or subsequent offense involving a violation of the same provision
Jurisdiction
Nebraska