8-3013. Digital asset depository institution; capital and surplus requirements.
213 words·~1 min read·
/ne/chapter-8/8-3013A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)The capital stock of each digital asset depository institution chartered under the Nebraska Financial Innovation Act shall be subscribed for as paid-up stock. Except as provided in subsection
(3)of this section, a digital asset depository institution shall not be chartered with capital stock of less than ten million dollars.
(2)A digital asset depository institution shall not commence business until the full amount of its authorized capital is subscribed and all capital stock is fully paid in. Except as provided in subsection
(3)of this section, a digital asset depository institution shall not be chartered without a paid-up surplus fund of at least three years of estimated operating expenses in the amount disclosed pursuant to subsection
(2)of section 8-3015 or in another amount required by the director.
(3)Notwithstanding the provisions of subsections
(1)and
(2)of this section and at the discretion of the director, a digital asset depository institution may be chartered and commence business if such institution meets the capital and surplus requirements for a substantially similar federal charter, license, or regulatory structure as determined by the director.
(4)A digital asset depository institution may acquire additional capital prior to the granting of a charter and shall report this capital as an amendment to its charter application.