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Can you summarize NERS 8-1512?
BANKS AND BANKING > Bank or thrift institution; acquire credit card bank; conditions; sections, how construed.
Short Summary
(1) Notwithstanding any other provisions of law and subject to the provisions of this section and to the approval of the Director of Banking and Finance, any bank or thrift institution may acquire and hold all or substantially all of the voting stock of one credit card bank located in this state when and so long as the credit card bank meets the conditions set forth in section 8-2401. (2) Sections 8-1511 to 8-1513 and 8-2401 to 8-2403 shall not be construed so as to limit the acquisition or ownership of a credit card bank to banks or thrift institutions. Source: Laws 1983, LB 454, 2; R.S.Supp.,1983, 8-905; Laws 1984, LB 1076, 3; Laws 1987, LB 332, 4; Laws 2004, LB 999, 15.
Jurisdiction
Nebraska