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Can you summarize NERS 8-1504?
BANKS AND BANKING > Acquisition; notice; contents.
Short Summary
This legal document governs the process of acquisition and applies to persons or entities making an acquisition. The document specifies the information that must be included in a notice filed for an acquisition. The required information includes the identity, personal history, business background, and experience of each person involved in the acquisition, as well as their material business activities and affiliations in the past five years. The notice must also include a statement of the assets and liabilities of the persons involved, the terms and conditions of the proposed acquisition, and the source and amount of funds or other consideration used or to be used in the acquisition. Additionally, any plans or proposals to liquidate the bank or trust company, sell its assets, merge it with another company, or make other major changes must be disclosed. The notice should also identify any person employed or retained to make solicitations or recommendations to stockholders for the purpose of assisting in the acquisition. Copies of invitations, tenders, or advertisements making a tender offer to stockholders must be provided. The Director of Banking and Finance may require additional relevant information as per rule and regulation or specific request. No penalties are mentioned in the provided content.
Whom does it apply to?
Persons or entities making an acquisition
What does it govern?
Acquisition
What are exemptions?
Rule and regulation of the department may provide exemptions
What are the Penalties?
No penalties mentioned in the provided content.
Jurisdiction
Nebraska