8-911. Out-of-state bank holding company; acquisition of banks; conditions.
130 words·~1 min read·
/ne/chapter-8/8-911A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Upon compliance with all other provisions of the Nebraska Bank Holding Company Act of 1995 and any other applicable law, an out-of-state bank holding company may acquire a bank or banks under the act only if the bank or banks to be acquired have been chartered for five years or more.
(2)An out-of-state bank holding company shall not, directly or indirectly, form, charter, or establish a bank in Nebraska or cause a bank in Nebraska to be formed, chartered, or established unless
(a)the bank is formed, chartered, or established solely for the purpose of acquiring all or substantially all of the assets of a bank which has been chartered for five years or more and
(b)the bank does not open for business prior to such acquisition.