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Can you summarize NERS 8-112?
BANKS AND BANKING > Director; records required; disclosures prohibited; confidential records.
Short Summary
This legal document governs the records required, disclosures prohibited, and confidentiality of records by the director and anyone connected with the department, as well as financial institutions and other entities regulated by the department. The director is required to maintain proper books showing all acts, matters, and things done under the jurisdiction of the department. The name of any customer, including a depositor, debtor, beneficiary, member, or account holder, and the amount of any deposit, debt, or account holdings of any of them shall not be disclosed, except as necessary in the performance of official duty. The department may maintain a record of debtors and provide information on the total liabilities of such debtors to financial institutions. Examination reports, investigation reports, and related documents and information are confidential records of the department and may only be released or disclosed in the performance of official duty or pursuant to a properly issued subpoena with a protective order. These confidentiality restrictions also apply to financial institutions and their representatives or agents. The party issuing a subpoena for examination reports or related documents must provide notice to the financial institution subject to the reports, unless the institution is already a party to the underlying proceeding or prohibited by law or court order. No specific penalties are mentioned in this document.
Whom does it apply to?
The director and anyone connected with the department, financial institutions and other entities regulated by the department
What does it govern?
Records required; disclosures prohibited; confidential records
What are exemptions?
The department may disclose information concerning the total liabilities of a debtor to any financial institution owning obligations of such debtor. Information may also be released or disclosed pursuant to a properly issued subpoena and upon entry of a protective order from a court of competent jurisdiction.
What are the Penalties?
No specific penalties mentioned.
Jurisdiction
Nebraska