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Can you summarize NERS 8-122?
BANKS AND BANKING > Issuance of charter to transact business.
Short Summary
This legal document governs the issuance of a charter to corporations applying to transact business as a bank in Nebraska. The document outlines the requirements and process for obtaining a charter, including the examination and approval of the application by the Director of Banking and Finance, investigation of the integrity and responsibility of the stockholders, directors, and officers of the corporation, and the determination of public necessity, convenience, and advantage. Upon meeting the requirements and paying the necessary fees, the department will issue a charter to the corporation. The document also mentions the presumption of public necessity, convenience, and advantage in the case of a bank merger, subject to certain conditions. Overall, this document provides the framework for granting charters to banks in Nebraska.
Whom does it apply to?
Corporations applying for a charter to transact business as a bank in Nebraska
What does it govern?
Issuance of charter to transact business as a bank
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska