reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2731 - Supervisory information sharing; information and material; how treated; applicability; director; powers.

8-2731.
Supervisory information sharing; information and material; how treated; applicability; director; powers.
(1) In order to promote more effective regulation and reduce the regulatory burden through supervisory information sharing:
(a) Except as otherwise provided in this section, the requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to the Nationwide Mortgage Licensing System and Registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. Such information and material may be shared with all federal and state regulatory officials with money transmitter industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law;
(b) Information or material that is subject to privilege or confidentiality under subdivision (a) of this subsection shall not be subject to:
(i) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or
(ii) Subpoena or discovery or admission into evidence in any private civil action or administrative process unless, with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry with respect to such information or material, the person to whom such information or material pertains waives, in whole or in part, in the discretion of such person, that privilege;
(c) Any state statute relating to the disclosure of confidential supervisory information or any information or material described in subdivision (a) of this subsection that is inconsistent with such subdivision shall be superseded by the requirements of this section; and
(d) This section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, applicants and licensees that is included in the Nationwide Mortgage Licensing System and Registry for access by the public.
(2) For these purposes, the director is authorized to enter into agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, the Money Transmitter Regulators Association, or other associations representing governmental agencies as established by adopting and promulgating rules and regulations or an order of the director.
Source
Laws 2013, LB616, § 31.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2732 - Application fee; processing fee.

8-2732.
Application fee; processing fee.
Each applicant shall submit, with the application, an application fee of one thousand dollars, and any processing fee allowed under subsection (2) of section 8-2730 which shall not be subject to refund but which, if the license is granted, shall constitute the license fee for the first license year or part thereof.
Source
Laws 2013, LB616, § 32.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2733 - Application; director; duties; powers; onsite investigation; costs; denial of application; reasons; hearing.

8-2733.
Application; director; duties; powers; onsite investigation; costs; denial of application; reasons; hearing.
(1) Upon the filing of a complete application under the Nebraska Money Transmitters Act, the director shall investigate the financial condition and responsibility, financial and business experience, character, and general fitness of the applicant. The director may conduct an onsite investigation of the applicant, the reasonable cost of which shall be borne by the applicant. If the director finds that the applicant's business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community and that the applicant has fulfilled the requirements imposed by the act and has paid the required application or license fee, the director shall issue a license to the applicant authorizing the applicant to engage in money transmission in this state. If these requirements have not been met, the director shall deny the application in writing, setting forth the reasons for the denial.
(2) The director shall approve or deny every application for an original license within one hundred twenty days after the date a complete application is submitted, which period may be extended by the written consent of the applicant. The director shall notify the applicant of the date when the application is deemed complete.
(3) Any applicant aggrieved by a denial issued by the director under the act may, at any time within fifteen business days after the date of the denial, request a hearing before the director. The hearing shall be held in accordance with the Administrative Procedure Act and rules and regulations of the department.
(4) If an applicant for a license under the Nebraska Money Transmitters Act does not complete the license application and fails to respond to a notice or notices from the department to correct the deficiency or deficiencies for a period of one hundred twenty days or more after the date the department sends the initial notice to correct the deficiency or deficiencies, the department may deem the application as abandoned and may issue a notice of abandonment of the application to the applicant in lieu of proceedings to deny the application.
Source
Laws 2013, LB616, § 33;
Laws 2017, LB185, § 1.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2734 - License; renewal application; licensing fee; processing fee; report; contents.

8-2734.
License; renewal application; licensing fee; processing fee; report; contents.
(1) Initial licenses shall remain in full force and effect until the next succeeding December 31. Each licensee shall, annually on or before December 31 of each year, file a license renewal application and pay to the director a license fee of two hundred fifty dollars and any processing fee allowed under subsection (2) of section 8-2730, both of which shall not be subject to refund.
(2) The renewal application and license fee shall be accompanied by a report, in a form prescribed by the director, which shall include:
(a) A copy of the licensee's most recent audited consolidated annual financial statement including balance sheet, statement of income or loss, statement of changes in shareholders' equity, and statement of changes in financial position, or, if a licensee is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation may be filed in lieu of the licensee's audited annual financial statement;
(b) The number of payment instruments sold by the licensee in the state, the dollar amount of those instruments, and the dollar amount of payment instruments currently outstanding, for the most recent quarter for which data is available before the date of the filing of the renewal application, but in no event more than one hundred twenty days before the renewal date;
(c) Any material changes to any of the information submitted by the licensee on its original application which have not previously been reported to the director on any other report required to be filed under the Nebraska Money Transmitters Act; and
(d) A list of the licensee's permissible investments.
Source
Laws 2013, LB616, § 34;
Laws 2016, LB778, § 2;
Laws 2021, LB363, § 21.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2735 - Licensee; notice to director; when; report; contents.

8-2735.
Licensee; notice to director; when; report; contents.
(1) A licensee shall file notice with the director within thirty calendar days after any material change in information provided in a licensee's application as prescribed by the director.
(2) A licensee shall file a report with the director within five business days after the licensee has reason to know of the occurrence of any of the following events:
(a) The filing of a petition by or against the licensee under any bankruptcy law of the United States for liquidation or reorganization;
(b) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;
(c) The filing of an action to revoke or suspend the licensee's license in a state or country in which the licensee engages in business or is licensed;
(d) The cancellation or other impairment of the licensee's bond or other security;
(e) A charge or conviction of the licensee or of an executive officer, manager, or director of, or controlling person of, the licensee, for a felony; or
(f) A charge or conviction of an authorized delegate for a felony.
Source
Laws 2013, LB616, § 35.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2736 - Acquisition of control of licensee; notice to director; director; duties; powers; disapproval; grounds; notice; hearing.

8-2736.
Acquisition of control of licensee; notice to director; director; duties; powers; disapproval; grounds; notice; hearing.
(1) No person acting personally or as an authorized delegate shall acquire control of any licensee under the Nebraska Money Transmitters Act without first giving thirty days' notice to the director on forms prescribed by the director of such proposed acquisition.
(2) The director, upon receipt of such notice, shall act upon the proposed acquisition within thirty days, and unless he or she disapproves the proposed acquisition within that period of time, the acquisition shall become effective on the thirty-first day after receipt without the director's approval, except that the director may extend the thirty-day period an additional thirty days if, in his or her judgment, any material information submitted is substantially inaccurate or the acquiring person has not furnished all the information required by the director.
(3) An acquisition may be made prior to the expiration of the disapproval period if the director issues written notice of his or her intent not to disapprove the action.
(4)(a) The director may disapprove any proposed acquisition if:
(i) The financial condition of any acquiring person is such as might jeopardize the financial stability of the acquired licensee;
(ii) The business experience, character, and general fitness of any acquiring person or of any of the proposed management personnel of the acquiring person indicate that the acquired licensee would not be operated honestly, carefully, or efficiently; or
(iii) Any acquiring person neglects, fails, or refuses to furnish all information required by the director.
(b) The director may require that any acquiring person comply with the application requirements of section 8-2729.
(c) The director shall notify the acquiring person in writing of disapproval of the acquisition. The notice shall provide a statement of the basis for the disapproval.
(d) Within fifteen business days after receipt of written notice of disapproval, the acquiring person may request a hearing on the proposed acquisition. The hearing shall be in accordance with the Administrative Procedure Act and rules and regulations of the department. Following such hearing, the director shall, by order, approve or disapprove the proposed acquisition on the basis of the record made at the hearing.
Source
Laws 2013, LB616, § 36.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2738 - Licensee; books, accounts, and records.

8-2738.
Licensee; books, accounts, and records.
(1) Each licensee shall make, keep, and preserve the following books, accounts, and other records for a period of three years which shall be open to inspection by the director:
(a) A record of each payment instrument and stored value sold;
(b) A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly;
(c) Settlement sheets received from authorized delegates;
(d) Bank statements and bank reconciliation records;
(e) Records of outstanding payment instruments and stored value;
(f) Records of each payment instrument and stored value paid;
(g) A list of the names and addresses of all of the licensee's authorized delegates; and
(h) Any other records the director reasonably requires by rule or regulation or order.
(2) Maintenance of such documents as are required by this section in a photographic, electronic, or other similar form constitutes compliance with this section.
(3) Records may be maintained at a location other than within this state so long as the records are made accessible to the director on seven business days' written notice.
Source
Laws 2013, LB616, § 38.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2739 - Licensee; authorized delegate; contract; contents.

8-2739.
Licensee; authorized delegate; contract; contents.
A licensee desiring to conduct money transmission through an authorized delegate shall authorize each authorized delegate to operate pursuant to an express written contract which, for contracts entered into on or after January 1, 2014, shall provide the following:
(1) That the licensee appoints the person as its authorized delegate with authority to engage in the sale and issue of payment instruments or engage in the business of money transmission on behalf of the licensee;
(2) That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the director; and
(3) That the licensee is subject to supervision and regulation by the director.
Source
Laws 2013, LB616, § 39.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2740 - Authorized delegate; duties.

8-2740.
Authorized delegate; duties.
(1) An authorized delegate shall not make any fraudulent or false statement or misrepresentation to a licensee or to the director.
(2) An authorized delegate shall conduct all money transmission strictly in accordance with the licensee's written procedures provided to the authorized delegate.
(3) An authorized delegate shall remit all money owing to the licensee in accordance with the terms of the contract between the licensee and the authorized delegate.
(4) An authorized delegate is deemed to consent to the director's inspection with or without prior notice to the licensee or authorized delegate.
(5) An authorized delegate is under a duty to act only as authorized under the contract with the licensee and the Nebraska Money Transmitters Act. An authorized delegate who exceeds its authority is subject to cancellation of its contract and further disciplinary action by the director.
(6) All funds, less fees, received by an authorized delegate of a licensee from the sale or delivery of a payment instrument issued by a licensee or received by an authorized delegate for transmission shall, from the time such funds are received by such authorized delegate until such time when the funds or an equivalent amount are remitted by the authorized delegate to the licensee, constitute trust funds owned by and belonging to the licensee. If an authorized delegate commingles any such funds with any other funds or property owned or controlled by the authorized delegate, all commingled proceeds and other property is impressed with a trust in favor of the licensee in an amount equal to the amount of the proceeds due the licensee.
Source
Laws 2013, LB616, § 40.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2742 - Authorized delegate; suspension or revocation of designation; grounds; director; powers and duties; hearing; final order; application to modify or rescind.

8-2742.
Authorized delegate; suspension or revocation of designation; grounds; director; powers and duties; hearing; final order; application to modify or rescind.
(1) The director may, following a hearing in accordance with the Administrative Procedure Act, issue an order suspending or revoking the designation of an authorized delegate if the director finds that:
(a) The authorized delegate violated the Nebraska Money Transmitters Act or a rule or regulation adopted and promulgated or an order issued under the act;
(b) The authorized delegate did not cooperate with an examination or investigation by the director;
(c) The authorized delegate engaged in fraud, intentional misrepresentation, or gross negligence;
(d) The authorized delegate is convicted of a violation of a state or federal anti-money laundering statute;
(e) The competence, experience, character, or general fitness of the authorized delegate or a controlling person of the authorized delegate indicates that it is not in the public interest to permit the authorized delegate to engage in money transmission services; or
(f) The authorized delegate is engaged in an unsafe or unsound practice.
(2) In determining whether an authorized delegate is engaging in an unsafe or unsound practice, the director may consider the size and condition of the authorized delegate's money transmission, the magnitude of the loss, if any, the gravity of the violation of the act, and the previous conduct of the authorized delegate.
(3) Any authorized delegate to whom a final order is issued under this section may apply to the director to modify or rescind the order. The director shall not grant the application unless the director finds that (a) it is in the public interest to do so and (b) it is reasonable to believe that the person will comply with the act and any rule, regulation, or order issued under the act if and when that person is permitted to resume being an authorized delegate of a licensee.
Source
Laws 2013, LB616, § 42.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2743 - Cease and desist order; notice; hearing; vacation or modification of order; when; judicial review; enforcement.

8-2743.
Cease and desist order; notice; hearing; vacation or modification of order; when; judicial review; enforcement.
(1) The department may order any person to cease and desist whenever the department determines that the person has violated the Nebraska Money Transmitters Act. Upon entry of a cease and desist order, the director shall promptly notify the affected person that such order has been entered, of the reasons for such order, and that upon receipt, within fifteen business days after the date of the order, of a written request from the affected person, a hearing will be scheduled within thirty business days after the date of receipt of the written request, unless the parties consent to a later date or the hearing officer sets a later date for good cause. The hearing shall be held in accordance with the Administrative Procedure Act and rules and regulations of the department. If a hearing is not requested and none is ordered by the director, the order shall remain in effect until it is modified or vacated.
(2) The director may issue an order against a licensee to cease and desist from engaging in money transmission through an authorized delegate that is the subject of a separate order pursuant to section 8-2742.
(3) The director may vacate or modify a cease and desist order if he or she finds that the conditions which caused its entry have changed or that it is otherwise in the public interest to do so.
(4) A person aggrieved by a cease and desist order of the department may obtain judicial review of the order. The review shall be in the manner prescribed in the Administrative Procedure Act. The director may obtain an order from the district court of Lancaster County for enforcement of the cease and desist order.
Source
Laws 2013, LB616, § 43.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2744 - Violations; orders authorized.

8-2744.
Violations; orders authorized.
If the director finds, after notice and hearing in accordance with the Administrative Procedure Act, that any person has violated the Nebraska Money Transmitters Act or any rule, regulation, or order of the director thereunder, the director may order such person to pay (1) an administrative fine of not more than five thousand dollars for each separate violation and (2) the costs of investigation.
Source
Laws 2013, LB616, § 44.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2745 - Violations; penalties.

8-2745.
Violations; penalties.
(1) Except as provided in subsections (2) and (3) of this section, any person violating the Nebraska Money Transmitters Act or any rule, regulation, or order of the director made pursuant to the act or who engages in any act, practice, or transaction declared by the Nebraska Money Transmitters Act to be unlawful is guilty of a Class III misdemeanor.
(2) A person who intentionally makes a false statement, misrepresentation, or false certification in a record filed or required to be maintained under the act or who intentionally makes a false entry or omits a material entry in such a record is guilty of a Class I misdemeanor.
(3) An individual who knowingly engages in money transmission for which a license is required under the act without being licensed under the act is guilty of a Class I misdemeanor.
Source
Laws 2013, LB616, § 45.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2747 - Fees, charges, costs, and fines; disposition.

8-2747.
Fees, charges, costs, and fines; disposition.
(1) The department shall remit all fees, charges, and costs collected by the department pursuant to the Nebraska Money Transmitters Act to the State Treasurer for credit to the Financial Institution Assessment Cash Fund.
(2) The department shall remit fines collected under the act to the State Treasurer for distribution in accordance with Article VII, section 5, of the Constitution of Nebraska.
Source
Laws 2013, LB616, § 47.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2801 - Real estate loan agreement, mortgage, deed of trust, security instrument; enforcement and servicing; local ordinance or resolution; limitation.

8-2801.
Real estate loan agreement, mortgage, deed of trust, security instrument; enforcement and servicing; local ordinance or resolution; limitation.
(1) The enforcement and servicing of any real estate loan agreement or any mortgage, deed of trust, or other security instrument by which the loan is secured shall be pursuant only to state and federal law. No local ordinance or resolution may add to, change, interfere with any rights or obligations of, impose upon, or require payment of fees or taxes of any kind by, a lender, mortgagee, beneficiary, or trustee in a trust deed or servicer relating to, or delay or affect the enforcement and servicing of, any real estate loan agreement or any mortgage, deed of trust, or other security instrument by which the loan is secured.
(2) Subsection (1) of this section shall not apply to any ordinance or resolution adopted pursuant to the Community Development Law.
Source
Laws 2014, LB788, § 1.
Cross References
Community Development Law, see section 18-2101.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2901 - Terms, defined.

8-2901.
Terms, defined.
For purposes of sections 8-2901 to 8-2903:
(1) Account means a contract of deposit of funds between the depositor and a financial institution and:
(a) The account is owned by a vulnerable adult or senior adult, whether individually or with one or more other persons; or
(b) A vulnerable adult or senior adult is a beneficiary of the account, including a formal or informal trust account, a payable on death account, a conservatorship account, or a guardianship account;
(2) Department means the Department of Health and Human Services;
(3) Financial exploitation means:
(a) The wrongful or unauthorized taking, withholding, appropriation, or use of the money, assets, or other property or the identifying information of a vulnerable adult or senior adult by any person; or
(b) An act or omission by a person, including through the use of a power of attorney on behalf of, or as the conservator or guardian of, a vulnerable adult or senior adult, to:
(i) Obtain control, through deception, intimidation, fraud, or undue influence, over the vulnerable adult's or senior adult's money, assets, or other property to deprive the vulnerable adult or senior adult of the ownership, use, benefit, or possession of the property; or
(ii) Convert the money, assets, or other property of a vulnerable adult or senior adult to deprive a vulnerable adult or senior adult of the ownership, use, benefit, or possession of the property;
(4) Financial institution means a bank, savings bank, building and loan association, savings and loan association, or credit union, whether chartered by the Department of Banking and Finance, the United States, or a foreign state agency; any other similar organization which is covered by federal deposit insurance; a subsidiary or affiliate of any such entity; or a trust company as defined in section 8-230;
(5) Law enforcement agency has the same meaning as in section 28-359;
(6) Senior adult has the same meaning as in section 28-366.01;
(7) Transaction means any of the following as applicable to services provided by a financial institution:
(a) A transfer or request to transfer or disburse funds or assets in an account;
(b) A request to initiate a wire transfer, initiate an automated clearinghouse transfer, or issue a money order, cashier's check, or official check;
(c) A request to negotiate a check or other negotiable instrument;
(d) A request to change the ownership of, or access to, an account;
(e) A request for a loan, guarantee of a loan, extension of credit, or draw on a line of credit;
(f) A request to encumber any movable or immovable property, including real property, personal property, or fixtures; and
(g) A request to designate or change the designation of beneficiaries to receive any property, benefit, or contract right for a vulnerable adult or senior adult at death; and
(8) Vulnerable adult has the same meaning as in section 28-371.
Source
Laws 2020, LB909, § 18.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2902 - Legislative intent.

8-2902.
Legislative intent.
(1) It is the intent of the Legislature to provide legal protection to financial institutions so that they have the discretion to take action to assist in detecting and preventing financial exploitation.
(2) The Legislature recognizes that financial institutions are in a unique position to potentially discover financial exploitation when conducting transactions on behalf of and at the request of their customers.
(3) The Legislature recognizes that financial institutions have duties imposed by contract and duties imposed by both federal and state law to conduct transactions requested by their customers faithfully and timely in accordance with the customer's instructions.
(4) The Legislature recognizes that financial institutions do not have a duty to contravene the valid instructions of their customers and nothing in sections 8-2901 to 8-2903 creates such a duty.
Source
Laws 2020, LB909, § 19.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2905 - Terms, defined.

8-2905.
Terms, defined.
For purposes of the Nebraska Protection of Vulnerable Adults from Financial Exploitation Act, unless the context otherwise requires:
(1) Agencies means:
(a) The Adult Protective Services Division of the Department of Health and Human Services; and
(b) The Department of Banking and Finance;
(2) Agent has the same meaning as in section 8-1101;
(3) Broker-dealer has the same meaning as in section 8-1101;
(4) Eligible adult means:
(a) A senior adult as defined in section 28-366.01; or
(b) A vulnerable adult as defined in section 28-371;
(5) Financial exploitation means:
(a) The wrongful or unauthorized taking, withholding, appropriation, or use of money, assets, or other property of an eligible adult; or
(b) Any act or omission taken by a person, including through the use of a power of attorney, guardianship, or conservatorship of an eligible adult, to:
(i) Obtain control, through deception, intimidation, or undue influence, over the eligible adult's money, assets, or other property to deprive the eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or other property; or
(ii) Convert money, assets, or other property of the eligible adult to deprive such eligible adult of the ownership, use, benefit, or possession of his or her money, assets, or other property;
(6) Investment adviser has the same meaning as in section 8-1101;
(7) Investment adviser representative has the same meaning as in section 8-1101; and
(8) Qualified person means any broker-dealer, investment adviser, agent, investment adviser representative, or person who serves in a supervisory, compliance, or legal capacity for a broker-dealer or investment adviser.
Source
Laws 2021, LB297, § 2.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2906 - Financial exploitation; qualified person; notify agencies.

8-2906.
Financial exploitation; qualified person; notify agencies.
If a qualified person reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is occurring or being attempted, the qualified person may notify the agencies.
Source
Laws 2021, LB297, § 3.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2907 - Financial exploitation; qualified person; notify third party; immunity.

8-2907.
Financial exploitation; qualified person; notify third party; immunity.
(1) If a qualified person reasonably believes that financial exploitation of an eligible adult may have occurred, may have been attempted, or is occurring or being attempted, a qualified person may notify any third party previously designated by the eligible adult or any person allowed to receive notification under applicable law or any customer agreement. Notification may not be made to any designated third party that is suspected of financial exploitation or other abuse of the eligible adult.
(2) Any qualified person that in good faith and exercising reasonable care makes a notification pursuant to subsection (1) of this section shall be immune from administrative or civil liability that might otherwise arise from such notification or for any failure to notify the eligible adult of the disclosure.
Source
Laws 2021, LB297, § 4.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2908 - Broker-dealer; investment adviser; delay transaction or disbursement; conditions; expiration; court order; immunity.

8-2908.
Broker-dealer; investment adviser; delay transaction or disbursement; conditions; expiration; court order; immunity.
(1) A broker-dealer or investment adviser may delay a transaction or disbursement from an account of an eligible adult or an account on which an eligible adult is a beneficiary if:
(a) The broker-dealer or investment adviser reasonably believes, after initiating an internal review of the requested transaction or disbursement, that the requested transaction or disbursement may result in financial exploitation of an eligible adult; and
(b) The broker-dealer or investment adviser:
(i) Immediately, but in no event more than two business days after the requested transaction or disbursement, provides written notification of the delay and the reason for the delay to all parties authorized to transact business on the account unless any such party is reasonably believed to have engaged in suspected or attempted financial exploitation of the eligible adult;
(ii) Immediately, but in no event more than two business days after the requested transaction or disbursement, notifies the agencies; and
(iii) Continues its internal review of the suspected or attempted financial exploitation of the eligible adult, as necessary, and reports the internal review's results to the agencies upon request.
(2) Any delay of a transaction or disbursement as authorized by this section will expire upon the sooner of:
(a) A determination by the broker-dealer or investment adviser that the transaction or disbursement will not result in financial exploitation of the eligible adult; or
(b) Fifteen business days after the date on which the broker-dealer or investment adviser first delayed the transaction or disbursement of the funds, unless either of the agencies requests that the broker-dealer or investment adviser extend the delay, in which case the delay shall expire no more than thirty business days after the date on which the broker-dealer or investment adviser first delayed the transaction or disbursement of the funds unless sooner terminated by either of the agencies or by an order of a court of competent jurisdiction.
(3) A court of competent jurisdiction may enter an order extending the delay of the transaction or disbursement of the funds or may order other protective relief based on the petition of (a) either or both of the agencies, (b) the broker-dealer or investment adviser that initiated the delay under this section, or (c) any other interested party.
(4) Any qualified person that, in good faith and exercising reasonable care, complies with this section shall be immune from any administrative or civil liability that might otherwise arise from such delay or notification.
Source
Laws 2021, LB297, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2909 - Broker-dealer; investment adviser; provide access to records; immunity.

8-2909.
Broker-dealer; investment adviser; provide access to records; immunity.
(1) A broker-dealer or investment adviser shall provide access to or copies of records that are relevant to any suspected or attempted financial exploitation of an eligible adult to (a) the Adult Protective Services Division of the Department of Health and Human Services, (b) other agencies charged with administering state adult protective services laws, and (c) law enforcement, either as part of a referral to the agencies or to law enforcement, or upon request of the agencies or law enforcement pursuant to an investigation. The records may include historical records as well as records relating to the most recent transaction or disbursement or transactions or disbursements that may comprise financial exploitation of an eligible adult.
(2) Any qualified person that, in good faith and exercising reasonable care, complies with subsection (1) of this section shall be immune from any administrative or civil liability that might otherwise arise from providing such access to records.
(3) Any records made available to agencies and law enforcement under this section shall not be considered public records subject to disclosure pursuant to sections 84-712 to 84-712.09.
(4) Nothing in this section shall limit or otherwise impede the authority of the Department of Banking and Finance to access or examine the books and records of broker-dealers and investment advisers as otherwise provided by law.
Source
Laws 2021, LB297, § 6.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3002 - Legislative findings and declarations.

8-3002.
Legislative findings and declarations.
The Legislature finds and declares that:
(1) Economic development initiatives demand buy-in and input from community stakeholders across multiple industries. The Legislature should send a strong message that Nebraska wants to bring high-tech jobs and digital asset operations to our state. Nebraska has an incredible opportunity to be a leader in this emerging technology;
(2) Nebraska desires to create an entrepreneurial ecosystem where young talent can be paired with private investors in order to create jobs, enhance our quality of life, and prevent the brain drain that is particularly acute in rural Nebraska. If Nebraska does not make intentional and meaningful changes to how it recruits and retains young people, Nebraska will be left behind;
(3) The rapid innovation of blockchain and digital ledger technology, including the growing use of virtual currency, digital assets, and other controllable electronic records has complicated the development of blockchain services and products in the marketplace;
(4) Blockchain innovators are able and willing to address banking compliance challenges such as federal customer identification, anti-money laundering, and beneficial ownership requirements to comply with regulators' concerns;
(5) Compliance with federal and state laws, including, but not limited to, know-your-customer and anti-money-laundering rules and the federal Bank Secrecy Act, is critical to ensuring the future growth and reputation of the blockchain and technology industries as a whole; and
(6) Authorizing digital asset depositories in Nebraska will provide a necessary and valuable service to blockchain innovators and customers, emphasize Nebraska's partnership with the technology and financial industries, safely grow this state's ever-evolving financial sector, and afford more opportunities for Nebraska residents.
Source
Laws 2021, LB649, § 2;
Laws 2023, LB92, § 19.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3004 - Director; powers and duties.

8-3004.
Director; powers and duties.
The director shall have the power to issue to corporations desiring to transact business as a digital asset depository institution charters to transact digital asset depository business as defined in the Nebraska Financial Innovation Act. The director shall have general supervision and control over such digital asset depositories.
Source
Laws 2021, LB649, § 4;
Laws 2023, LB92, § 21.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3006 - Digital asset depository institution; subject to other provisions of law.

8-3006.
Digital asset depository institution; subject to other provisions of law.
A digital asset depository institution shall be subject to the Interstate Branching and Merger Act, the Nebraska Bank Holding Company Act of 1995, and Chapter 8, articles 6, 8, 13, 14, 15, 16, 19, 20, 25, 26, and 29 unless otherwise limited or excluded or the context otherwise requires.
Source
Laws 2021, LB649, § 6.
Cross References
Interstate Branching and Merger Act, see section 8-2101.
Nebraska Bank Holding Company Act of 1995, see section 8-908.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3007 - Customers; criteria.

8-3007.
Customers; criteria.
(1) No customer shall open or maintain an account with a digital asset depository or otherwise receive any services from the digital asset depository unless the customer meets the criteria of this subsection. A customer shall:
(a) Make sufficient evidence available to the digital asset depository to enable compliance with anti-money laundering, customer identification, and beneficial ownership requirements, as determined by the federal Bank Secrecy Act guidance and the policies and practices of the institution; and
(b) If the customer is a legal entity other than a natural person:
(i) Be in good standing with the jurisdiction in the United States in which it is incorporated or organized; and
(ii) Be engaged in a business that is lawful and bona fide in Nebraska, in the host state, if applicable, and under federal law consistent with subsection (3) of this section.
(2) A customer which meets the criteria of subsection (1) of this section may be issued a digital asset depository account and otherwise receive services from the digital asset depository, contingent on the digital asset depository maintaining sufficient insurance under subsection (5) of section 8-3023.
(3) Consistent with subdivisions (1)(a)(iv) and (v) of section 8-3005, and in addition to any requirements specified by federal law, a digital asset depository shall require that any potential customer that is a legal entity other than a natural person provide reasonable evidence that the entity is engaged in a business that is lawful and bona fide in Nebraska, in the host state, if applicable, and under federal law or is likely to open a lawful, bona fide business within a federal Bank Secrecy Act compliant timeframe, as the act existed on January 1, 2023. For purposes of this subsection, reasonable evidence includes business entity filings, articles of incorporation or organization, bylaws, operating agreements, business plans, promotional materials, financing agreements, or other evidence.
Source
Laws 2021, LB649, § 7;
Laws 2022, LB707, § 28;
Laws 2023, LB92, § 23.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3008 - Digital asset depository account; disclosures to customer; requirements.

8-3008.
Digital asset depository account; disclosures to customer; requirements.
The terms and conditions of a customer's digital asset depository account at a digital asset depository shall be disclosed at the time the customer contracts for a digital asset business service. Such disclosure shall be full and complete, contain no material misrepresentations, be in readily understandable language, and shall include, as appropriate and to the extent applicable:
(1) A schedule of fees and charges the digital asset depository may assess, the manner by which fees and charges will be calculated if they are not set in advance and disclosed, and the timing of the fees and charges;
(2) A statement that the customer's digital asset depository account is not protected by the Federal Deposit Insurance Corporation;
(3) A statement whether there is support for forked networks of each digital asset;
(4) A statement that investment in digital assets is volatile and subject to market loss;
(5) A statement that investment in digital assets may result in total loss of value;
(6) A statement that legal, legislative, and regulatory changes may impact the value of digital assets;
(7) A statement that customers should perform research before investing in digital assets;
(8) A statement that transfers of digital assets are irrevocable, if applicable;
(9) A statement as to how liability for an unauthorized, mistaken, or accidental transfer shall be apportioned;
(10) A statement that digital assets are not legal tender in any jurisdiction;
(11) A statement that digital assets may be subject to cyber theft or theft and become unrecoverable;
(12) A statement about who maintains control, ownership, and access to any private key related to a digital assets customer's digital asset account; and
(13) A statement that losing private key information may result in permanent total loss of access to digital assets.
Source
Laws 2021, LB649, § 8;
Laws 2023, LB92, § 24.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3009 - Digital asset depository; required liquid assets.

8-3009.
Digital asset depository; required liquid assets.
(1) At all times, a digital asset depository shall maintain unencumbered liquid assets denominated in United States dollars valued at not less than one hundred percent of the value of any outstanding stablecoin issued by the digital asset depository.
(2) For purposes of this section, liquid assets means:
(a) United States currency held on the premises of the digital asset depository that is not a digital asset depository institution;
(b) United States currency held for the digital asset depository by a federal reserve bank or a Federal Deposit Insurance Corporation-insured financial institution which has a main-chartered office in this state, any branch thereof in this state, or any branch of the financial institution which maintained a main-chartered office in this state prior to becoming a branch of such financial institution; or
(c) Investments which are highly liquid and obligations of the United States Treasury or other federal agency obligations, consistent with rules and regulations or order adopted by the director.
Source
Laws 2021, LB649, § 9;
Laws 2022, LB707, § 29.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3010 - Digital asset depository; compliance with state and federal laws; required.

8-3010.
Digital asset depository; compliance with state and federal laws; required.
A digital asset depository shall comply with all state and federal laws, including, but not limited to, those relating to anti-money laundering, customer identification, and beneficial ownership.
Source
Laws 2021, LB649, § 10.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-3011 - Digital asset depository; notice and statement regarding insurance and risk; customer; acknowledgment.

8-3011.
Digital asset depository; notice and statement regarding insurance and risk; customer; acknowledgment.
(1) With respect to all digital asset business activities, a digital asset depository shall display and include in all advertising, in all marketing materials, on any Internet website or mobile application it maintains, and at each window or place where it accepts digital asset deposits, (a) a notice conspicuously stating that digital asset deposits and digital asset accounts are not insured by the Federal Deposit Insurance Corporation, if applicable, and (b) the following conspicuous statement: Holdings of digital assets are speculative and involve a substantial degree of risk, including the risk of complete loss. There is no assurance that any digital asset will be viable, liquid, or solvent. Nothing in this communication is intended to imply that any digital asset held in custody by a digital asset depository is low-risk or risk-free. Digital assets held in custody are not guaranteed by a digital asset depository and are not insured by the Federal Deposit Insurance Corporation.
(2) Upon opening a digital asset depository account, a digital asset depository shall require each customer to execute a statement acknowledging that all digital asset deposits at the digital asset depository are not insured by the Federal Deposit Insurance Corporation. The digital asset depository shall permanently retain this acknowledgment, whether in electronic form or as a signature card.
Source
Laws 2021, LB649, § 11;
Laws 2023, LB92, § 25.
Operative Date: June 7, 2023