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Can you summarize NERS 8-141?
BANKS AND BANKING > Loans; limits; exceptions.
Short Summary
This legal document governs the limits on loans that banks can provide to corporations, limited liability companies, firms, and individuals. The limit is set at twenty-five percent of the paid-up capital, surplus, and capital notes and debentures or fifteen percent of the unimpaired capital and unimpaired surplus of the bank, whichever is greater. However, there are exceptions to these limitations. These exceptions include obligations secured by shipping documents or livestock, obligations secured by certain bonds or notes of the United States, obligations secured by negotiable warehouse receipts, and obligations secured by readily marketable collateral. The document also provides definitions for terms such as derivative transactions and unimpaired capital and unimpaired surplus. No specific penalties are mentioned in this document.
Whom does it apply to?
Banks
What does it govern?
Loans; limits; exceptions
What are exemptions?
Exceptions include obligations secured by shipping documents or livestock, obligations secured by certain bonds or notes of the United States, obligations secured by negotiable warehouse receipts, and obligations secured by readily marketable collateral.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska