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Can you summarize NERS 8-1602?
BANKS AND BANKING > Formation of bankers bank; requirements.
Short Summary
A bankers bank may be formed with the approval of the department and subject to requirements and procedures for the issuance of a new bank charter or the transfer of an existing bank charter as provided in the Nebraska Banking Act. A bankers bank shall be a bank which is: (1) Insured by the Federal Deposit Insurance Corporation; (2) Owned substantially by other Nebraska banks, bank holding companies, foreign bank holding companies, or a combination of such entities; and (3) Directly and through all its subsidiaries engaged exclusively in providing services for other banks and their officers, directors, and employees. Source: Laws 1986, LB 1123, 2; Laws 1998, LB 1321, 72; Laws 1999, LB 396, 16; Laws 2006, LB 876, 22. Cross References Nebraska Banking Act, see section 8-101.02.
Jurisdiction
Nebraska