8-116. Banks; capital stock; amount required.
94 words·~1 min read·
/ne/chapter-8/8-116A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Except as provided in subsection
(2)of this section, a charter for a bank shall not be issued unless the corporation applying therefor has surplus and paid-up capital stock in an amount not less than the amount necessary for compliance with subsection
(1)of section 8-702 for the insurance of deposits.
(2)The director has the authority to determine the minimum amount of paid-up capital stock and surplus required for any corporation applying for a bank charter, which amount shall not be less than the amount provided in subsection
(1)of this section.