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Can you summarize NERS 8-107?
BANKS AND BANKING > Banks; books and accounts; failure to keep; penalty.
Short Summary
This legal provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, grants the department the authority to require bank officers to open and maintain specific books or accounts. The purpose of these books and accounts is to accurately record and conveniently track the transactions and accounts of the bank. If a bank refuses or neglects to open and keep the prescribed books or accounts, they may be subject to a penalty of ten dollars for each day of non-compliance. The penalty can be collected in a similar manner as fees for bank examinations. It is important for bank officers to promptly enter transactions into the required books to comply with this provision, as established by a previous court case.
Whom does it apply to?
Officers of any bank
What does it govern?
Books and accounts that banks are required to keep
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
A penalty of ten dollars for each day a bank neglects or fails to open and keep the required books and accounts
Jurisdiction
Nebraska