Ask Reggi Your Question Now
Reggi is the free generative AI assistance for regulatory compliance
Can you summarize NERS 8-148.06?
BANKS AND BANKING > Banks; subscribe, invest, buy, own, and sell stock; bank subsidiaries; limitation.
Short Summary
Any bank may subscribe to, invest in, buy, own, and sell the common stock, obligations, and other securities of one or more bank subsidiaries organized under the laws of the State of Nebraska. A bank shall not obligate more than thirty-five percent of its paid-up capital stock, surplus, undivided profits, capital reserves, and capital notes and debentures for such purposes. An additional percentage of its paid-up capital stock, surplus, undivided profits, capital reserves, and capital notes and debentures may be invested with written approval of the director. The subscription, investment, possession, or ownership is not subject to sections 8-148, 8-149, and 8-150. Source: Laws 1995, LB 384, 2; Laws 2022, LB707, 12.
Jurisdiction
Nebraska