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Can you summarize NERS 8-161?
BANKS AND BANKING > Banks; trust department; application; investigation; authorization.
Short Summary
The director, before granting to any bank the right to operate a trust department, shall require such bank to make an application for amendment of its charter, setting forth such information as the director may require. If, upon investigation, the director is satisfied that the trust department of the bank requesting such amendment will be operated by officers of integrity and responsibility, the department shall, with such additional capital as the director shall require, issue to such bank an amendment to its charter, entitling it to operate a trust department and entitling it to transact the business provided for in the Nebraska Trust Company Act. Source: Laws 1959, c. 19, 3, p. 144; Laws 1961, c. 14, 6, p. 108; R.R.S.1943, 8-1,120; Laws 1963, c. 29, 61, p. 159; Laws 1993, LB 81, 11; Laws 1998, LB 1321, 12; Laws 2017, LB140, 59. Cross References Nebraska Trust Company Act, see section 8-201.01.
Jurisdiction
Nebraska