This legal document, part of the Nebraska Revised Statutes governing banks and banking, sets forth regulations regarding the direct borrowing of banks, limitation on amounts of loans and investments, and the illegal transfer of assets. According to the document, the aggregate amount of direct borrowing of any bank should not exceed the amount of its paid-up capital, surplus, undivided profits, capital reserves, capital notes, and debentures, unless prior written permission is obtained from the director.

This legal document governs the actions of banks in Nebraska. It prohibits banks from making loans or discounts on the security of their own capital stock or the capital stock of their holding company, purchasing such shares, or purchasing securities convertible into stock, unless it is necessary to prevent loss upon a debt previously contracted in good faith. Banks are required to sell or dispose of any stock purchased or acquired within six months, unless written approval for a longer holding period is obtained from the director.

Any bank may invest not more than ten percent of its capital and surplus either in stock of a corporation operating a computer center or directly, alone or with others, in a computer center. With written approval of the director, such additional percentage of its capital and surplus may be so invested as the director shall approve. Such investment is not subject to the provisions of sections 8-148, 8-149, and 8-150.

This legal provision, found in the Nebraska Revised Statutes under the section on Banks and Banking, allows banks to subscribe to, invest in, buy, and own stock in agricultural credit corporations or livestock loan companies. These corporations and companies primarily provide short and intermediate term credit to farmers, ranchers, and entities engaged in farming and ranching activities, including the breeding, raising, fattening, or marketing of livestock. Banks are limited to obligating up to 35% of their paid-up capital, surplus, undivided profits, capital reserves, capital notes, and debentures for such purposes.

Bonds of the State of Israel are hereby made securities in which banks, savings and loan associations, insurance companies, and credit unions may properly and legally invest funds. Source: Laws 1974, LB 845, 3.

This legal document, found in the Nebraska Revised Statutes under the section ‘BANKS AND BANKING’, governs community development investments made by banks. It allows banks to make such investments directly or through purchasing equity interests or evidence of indebtedness of entities primarily engaged in community development investments. However, there are certain conditions that need to be satisfied. Firstly, the investment should not expose the bank to unlimited liability. Secondly, the aggregate investment under this subsection should not exceed fifteen percent of the bank’s capital and surplus.

This legal provision, found in the Nebraska Revised Statutes under the section on BANKS AND BANKING, allows banks to engage in dealing, underwriting, and purchasing of qualified Canadian Government obligations. Banks are permitted to deal in these obligations to the same extent as they deal in obligations of the United States Government or general obligations of any state. The term ‘qualified Canadian Government obligation’ refers to any debt obligation backed by Canada or any Canadian province, with a comparable liability to obligations backed by the full faith and credit of the United States Government or any state thereof.

Any bank may subscribe to, invest in, buy, own, and sell the common stock, obligations, and other securities of one or more bank subsidiaries organized under the laws of the State of Nebraska. A bank shall not obligate more than thirty-five percent of its paid-up capital stock, surplus, undivided profits, capital reserves, and capital notes and debentures for such purposes. An additional percentage of its paid-up capital stock, surplus, undivided profits, capital reserves, and capital notes and debentures may be invested with written approval of the director.

A bank subsidiary shall engage in only those activities: (1) Prescribed under subdivision (6) of section 8-101.03; or (2) That its bank shareholder, shareholders, member, members, investor, or investors are authorized to perform under the laws of this state and shall engage in those activities only at locations in this state where the bank shareholder, shareholders, member, members, investor, or investors could be authorized to perform activities. Source: Laws 1995, LB 384, 3; Laws 2000, LB 932, 2; Laws 2017, LB140, 49; Laws 2022, LB707, 13.

A bank subsidiary is subject to examination and regulation by the department to the same extent as its bank shareholder, shareholders, member, members, investor, or investors. Source: Laws 1995, LB 384, 4; Laws 2017, LB140, 50; Laws 2022, LB707, 14.