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Can you summarize NERS 8-120?
BANKS AND BANKING > Corporation; application to conduct, merge, or transfer bank; contents.
Short Summary
This legal document, sourced from the Nebraska Revised Statutes, governs the process of conducting, merging, or transferring a bank. It applies to corporations that are organized for conducting a bank or merging with an existing bank. The document outlines the requirements for submitting a complete detailed application, including the proposed bank’s name, copy of the articles of incorporation, names of stockholders, location of the bank, nature of the proposed banking business, proposed amounts of paid-up capital stock and surplus, and a statement regarding the payment of at least twenty percent of the stated amounts by the stockholders. The document also covers the application process for a merger and the transfer of a bank charter. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Corporations organized for conducting a bank or merging with an existing bank
What does it govern?
Conducting, merging, or transferring a bank
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska