Ask Reggi Your Question Now
Reggi is the free generative AI assistance for regulatory compliance
Can you summarize NERS 8-138?
BANKS AND BANKING > Deposits; receiving when insolvent; prohibition; penalty.
Short Summary
This legal document governs the acceptance and receipt of deposits by banks when they are insolvent. According to the document, no bank is allowed to accept or receive deposits when it is insolvent. If a bank receives or accepts deposits while insolvent, the officer, agent, or employee involved is guilty of a Class III felony. The document does not mention any exemptions. It is applicable to all banks and aims to prevent insolvent banks from accepting deposits. The penalty for non-compliance is a Class III felony.
Whom does it apply to?
Banks
What does it govern?
Deposits; receiving when insolvent
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Guilty of a Class III felony
Jurisdiction
Nebraska