Ask Reggi Your Question Now
Can you summarize NERS 8-191?
BANKS AND BANKING > Banks; possession by department; notice to banks and trust companies; notice or knowledge of possession forestalls liens.
Short Summary
This legal document, sourced from the Nebraska Revised Statutes, pertains to the possession of property and business of a bank by the department. Upon taking possession, the department is required to immediately notify all banks or trust companies holding or in possession of any assets of the bank. If a bank or trust company is notified or has knowledge of the department’s possession, they will not have a lien or charge for any payment, advance, or liability against the bank’s assets, unless the bank is continued as a going concern. The document does not specify any exemptions or penalties related to this provision.
Whom does it apply to?
Banks or trust companies holding or in possession of any assets of the bank
What does it govern?
Possession of property and business of a bank by the department
What are exemptions?
The document does not mention any exemptions.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Nebraska