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Can you summarize NERS 8-186?
BANKS AND BANKING > Bank; possession; voluntary surrender to department; notice; posting; liens dissolved.
Short Summary
This legal provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, pertains to the voluntary surrender of a bank’s affairs and assets to the Department of Banking and Finance. According to the provision, a bank can place itself under the control of the department by posting a notice on its door. Once the notice is posted or the department or a financial institution examiner takes possession of the bank, all of its assets immediately come under the possession of the department. This action also prevents any attachments or executions from being levied on the bank’s assets and dissolves any levies, judgment liens, attachments, or other liens obtained through legal proceedings within sixty days prior to the posting of the notice or the department taking possession of the bank. The provision does not mention any specific penalties or exemptions.
Whom does it apply to?
Banks
What does it govern?
Possession of a bank by the Department of Banking and Finance
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska