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Code · Nebraska · Chapter 8 — Banks and Banking

8-3014. Financial institution; digital asset depository department; charter amendment; director; powers and duties.

270 words·~1 min read·/ne/chapter-8/8-3014

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

(1)Any financial institution, having adopted or amended its articles of incorporation to authorize the conduct of a digital asset depository business may be further chartered by the director to transact a digital asset depository business in a digital asset depository department in connection with such financial institution.
(2)The director has the authority to issue to financial institutions amendments to their charters to transact a digital asset depository business, has general supervision and control over such digital asset depository departments of financial institutions, and may require the injection of additional capital.
(3)The director, before granting to any financial institution the right to operate a digital asset depository department, shall require such financial institution to make an application for amendment of its charter, setting forth such information as the director may require.
(4)A digital asset depository department of a financial institution when chartered under subsection
(1)of this section shall be separate and apart from every other department of the financial institution and shall have all the powers, duties, and obligations of a digital asset depository institution as set forth in the Nebraska Financial Innovation Act.
(5)Any financial institution authorized to transact a digital asset depository business in a digital asset depository department pursuant to subsection
(1)of this section may conduct such digital asset depository business at the office of any financial institution which is a subsidiary of the same bank holding company as the authorized financial institution.
(6)A financial institution may deposit or have on deposit funds of an account controlled by the financial institution's digital asset depository department unless prohibited by applicable law.
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