reglab/statecodes huggingface dataset:
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 18 - REQUIREMENTS FOR PURCHASES OF SHARES OF INVESTMENT COMPANIES › Section 45-18-003 - INVESTMENT LIMITS

Current through June 17, 2024
003.01 When an
				investment company's assets consist solely of, and are limited to, obligations
				that are eligible for unlimited investment by a bank, there is no limit on a
				bank's investment.
003.02 When an
				investment company's assets contain obligations which are subject to the bank's
				investment or lending limitations, investment by the bank must be limited to
				twenty-five percent of its paid-up capital, surplus, capital notes, and
				debentures or fifteen percent of its unimpaired capital and unimpaired surplus,
				whichever is greater.
003.03 When
				an investment company makes use of repurchase agreements, the bank's investment
				is limited to twenty-five percent of its paid-up capital, surplus, capital
				notes, and debentures or fifteen percent of its unimpaired capital and
				unimpaired surplus, whichever is greater, provided that all of the following
				conditions are met:
003.03A The repurchase
				agreements are fully secured by securities of the United States government or
				any authorized agency thereof.
003.03B Possession of the collateral is
				obtained by either the bank or a third-party custodian designated by the bank
				under a written custodial agreement which explicitly recognizes the bank's
				interest in the securities as superior to that of any other person, or, in the
				case of book-entry securities, by appropriate entry in an account maintained in
				the name of the bank by a Federal Reserve Bank;
003.03C The collateral is marked to market on
				a daily basis.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 18 - REQUIREMENTS FOR PURCHASES OF SHARES OF INVESTMENT COMPANIES › Section 45-18-004 - INVESTMENT COMPANY REQUIREMENTS

Current through June 17, 2024
004.01 In addition
				to the eligibility requirements of the underlying assets of the investment
				company, the fund must provide that:
004.01A
				The shareholder must have a proportionate undivided interest in the underlying
				assets of the investment company.
004.01B The shareholders of the fund must be
				shielded from personal liability for acts or obligations of the investment
				company.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 18 - REQUIREMENTS FOR PURCHASES OF SHARES OF INVESTMENT COMPANIES › Section 45-18-005 - REVIEW AND DOCUMENTATION

Current through June 17, 2024
005.01 The bank's
				formal investment policy, as adopted and approved by its Board of Directors
				("Board"), must specifically provide for the investments addressed by this
				Rule.
005.02 Specific prior
				approval of the bank's Board is required for the initial investment in specific
				investment companies. Such approval must be noted in the official Board
				minutes.
005.03 Procedures,
				standards, and controls for managing such investments shall be implemented
				prior to the investment being made. Such procedures, standards, and controls
				shall be in written form and approved by the Board.
005.04 A copy of the prospectus for each such
				investment shall be maintained in the bank's records for a period of one year
				after the investment is no longer held in the bank's own portfolio.
005.05 The bank shall conduct a review at
				least quarterly of its holdings of investment company shares to ensure that
				such investments are in accordance with its investment policy and statutory and
				regulatory requirements. Such review must be noted in the official Board
				minutes.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 18 - REQUIREMENTS FOR PURCHASES OF SHARES OF INVESTMENT COMPANIES › Section 45-18-006 - REPORTING AND ACCOUNTING

Current through June 17, 2024
006.01 Quarterly
				Reports of Condition require bank holdings of investment company shares to be
				reported at the lower of the aggregate cost or market value in RC-B SECURITIES.
				Reference the glossary entry for "marketable equity securities,".
006.01A Market value of "open-end" investment
				companies should be based on net asset value rather than offering
				price.
006.01B Shares in
				"closed-end" investment companies should be marked to the bid price.
006.01C At no time may the carrying value of
				investment company holdings be increased above their aggregate cost as a result
				of net unrealized gains.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 19 - LEASING OF PERSONAL PROPERTY › Section 45-19-001 - GENERAL

Current through June 17, 2024
001.01 Federal statutes and regulations
				referenced herein means those statutes and regulations as amended on or before
				the effective date of this Rule. A copy of the statutes and regulations
				referenced in this Rule is available as an Appendix to this rule at
[link to be determined]
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 19 - LEASING OF PERSONAL PROPERTY › Section 45-19-002 - MINIMUM COMPLIANCE REQUIREMENTS

Current through June 17, 2024
002.01 A bank may,
				directly or indirectly, engage in the business of leasing personal property if
				it conforms to the provisions of Title 12, Chapter 1, Part 23 of the Code of
				Federal Regulations, entitled "Leasing."
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 19 - LEASING OF PERSONAL PROPERTY › Section 45-19-003 - CONSTRUCTION OF RULE

Current through June 17, 2024
003.01 Nothing in
				this Rule shall be construed to be in conflict with the duties, liabilities and
				standards imposed by the Consumer Leasing Act of 1976,
				15 U.S.C.
				1667 et. seq.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 19 - LEASING OF PERSONAL PROPERTY › Section 45-19-004 - LIMITATIONS

Current through June 17, 2024
004.01 Leases permissible under this Rule are
				subject to the limitations on loans under Neb. Rev. Stat. §
									8-141, and the limitations on loans
				and investments under Neb. Rev. Stat. §§
									8-141 and
				8-147.
004.02 The dollar amount of the lease for
				these purposes will be determined by using the following formulas:
004.02A Bank cost of acquisition of personal
				property minus investment credit realized minus the balance of any nonrecourse
				debt; or,
004.02B The sum of the
				present value of both the lease payments and the residual value of the
				property.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 19 - LEASING OF PERSONAL PROPERTY › Section 45-19-005 - EXCLUSION AND SCOPE OF EXCLUSION

Current through June 17, 2024
005.01 Except as
				provided in this, this Rule does not apply to any leases executed prior to May
				1, 1982.
005.02 With respect to the
				applicability of Section 004 of this Rule, when making new extensions of
				credit, including leases, to a customer, a bank must consider all outstanding
				leases regardless of the date they were entered into.
005.03 Any lease which was entered into in
				good faith prior to May 1, 1982, which does not satisfy the requirements of
				this Rule may be renewed without violation of this Section only if:
005.03A There is a binding agreement in the
				expiring lease which requires the bank to renew it at the lessee's option, and
				the bank cannot otherwise reasonably or properly avoid its commitment to do so,
				or
005.03B The bank, in good faith,
				determines and demonstrates by full documentation that renewal of the lease is
				necessary to avoid significant financial loss and recover its total investment
				plus the cost of financing.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 19 - LEASING OF PERSONAL PROPERTY › Section 45-19-006 - POLICIES

Current through June 17, 2024
006.01 The Board of Directors of the bank
				must adopt leasing policies, procedures, objectives, and internal controls
				which adequately protect the bank and provide customer services.
006.02 Such leasing policies must recognize
				that leasing is a form of term debt financing and, therefore must include
				adequate credit standards.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 21 - TRUST DEPARTMENT APPLICATIONS › Section 45-21-001

Current through June 17, 2024
Any bank desiring to conduct a trust business after its
				  Articles of incorporation have been amended to authorize the conduct of a trust
				  business pursuant to section
				  8-159
				  and the regulations promulgated thereunder, or if its Articles of incorporation
				  already authorize the conduct of a trust business, shall apply to the Director
				  of Banking for amendment of its charter for such authorization on forms
				  provided by the Department of Banking and Finance. Each application shall be
				  executed and forwarded in duplicate to the Director of
				  Banking.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 21 - TRUST DEPARTMENT APPLICATIONS › Section 45-21-002

Current through June 17, 2024
The director shall conduct a public hearing concerning the
				  application in accordance with the Rules of Procedure of the Department of
				  Banking and Finance, and may require the applicant to submit additional
				  information or comply with such other requests that the director may deem
				  necessary.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 45 - BANKING RULES › Chapter 21 - TRUST DEPARTMENT APPLICATIONS › Section 45-21-003

Current through June 17, 2024
In granting an amendment to the bank charter to authorize a
				  bank to conduct a trust business, the Director of Banking will give
				  consideration to the following matters and to any other facts and circumstances
				  that may, in the Director's discretion, be deemed necessary:
003.01 Whether the bank has sufficient
				capital and surplus to conduct the trust business applied for.
003.02 The needs of the community for the
				services of a trust business.
003.03 The general condition of the
				bank.
003.04 The general character
				and ability of the management of the bank.
003.05 The nature of the supervision to be
				given to trust department activities, including the qualifications, experience
				and character of the proposed trust department personnel; methods of trust
				department operations; and, methods of investing trust funds.
003.06 Whether the bank has available legal
				counsel to advise and pass upon fiduciary matters whenever necessary.
003.07 Whether the stockholders, directors,
				and officers are parties of integrity and responsibility.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - APPLICATIONS › Section 47-1-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §
									8-3031 of the Nebraska Financial
				Innovation Act ("Act").
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, the Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - APPLICATIONS › Section 47-1-003 - PUBLIC HEARING

Current through June 17, 2024
003.01 Upon
				determining that an applicant has submitted a substantially complete
				application for a charter, the Director shall notify the applicant of a public
				hearing to be conducted on the application and schedule the hearing in
				accordance with, Neb. Rev. Stat. §
									8-3016 of the Act.
003.01A A substantially complete application
				is one in which the applicant has addressed any deficiency in the required
				information and/or application.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - APPLICATIONS › Section 47-1-004 - ADDITIONAL BUSINESS ACTIVITIES; FOREIGN OR INTERNATIONAL EXPANSION

Current through June 17, 2024
004.01 Digital asset depositories shall
				obtain prior approval from the Director before conducting any business
				activities that were not a part of the depository's original application, or
				that expand any pre-existing business activities of the depository into new
				foreign markets or jurisdictions. Such prior approval must be made on a form
				prescribed by the Director.
004.02
				The Director may approve, conditionally approve, or deny such request to
				conduct other business activities, as may be required to ensure the
				depository's ongoing safety and soundness, or as may be determined by the
				Director to be in the public interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - APPLICATIONS › Section 47-1-005 - FILING FEES

Current through June 17, 2024
005.01 All filing
				fees are payable in U.S. dollars by corporate check, money order, or ACH to the
				Department, or through an electronic filing system recognized by the Director.
				Cash, personal checks, and checks drawn on non-United States banks will not be
				accepted.
005.02 All filing fees are
				nonrefundable and shall be retained by the Department regardless of the final
				determination regarding the application, or of any withdrawal of a pending
				application.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - APPLICATIONS › Section 47-1-006 - COMPUTATION OF TIME

Current through June 17, 2024
006.01 In computing
				time prescribed or allowed by any applicable statute or rule in which the
				method of computing time is not specifically provided, days will be computed by
				excluding the day of the act or event and including the last day of the period.
				If the last day of the period falls on a Saturday, Sunday, or legal holiday,
				the period shall include the next business day.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - APPLICATIONS › Section 47-1-007 - ADDITIONAL REVIEW

Current through June 17, 2024
007.01 All
				applications are subject to review by the Department's Securities
				Bureau.
007.02 All applications are
				subject to review by any federal regulator deemed necessary by the
				Department.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - APPLICATIONS › Section 47-1-008 - APPEAL

Current through June 17, 2024
008.01 Any applicant aggrieved by a
				determination of the Director regarding an application under Section 004 of
				this Rule may appeal such determination. Such appeal must be filed within
				thirty (30) days of the determination.
008.02 Upon receipt of an appeal, the
				Director shall set the matter for a public hearing, to be conducted within
				sixty (60) days of receipt.
008.03
				Such public hearing shall be conducted in accordance the Department's Rules of
				Practice and Procedure, as set forth within 49 NAC 4, and the Administrative
				Procedure Act.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 2 - SURETY BONDS AND PLEDGE OF ASSETS; INSURANCE › Section 47-2-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §
									8-3031 of the Nebraska Financial
				Innovation Act ("Act").
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, the Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 2 - SURETY BONDS AND PLEDGE OF ASSETS; INSURANCE › Section 47-2-002 - SURETY BOND OR PLEDGED ASSETS TO COVER POTENTIAL LIQUIDATION OR RECEIVERSHIP

Current through June 17, 2024
002.01 To cover or
				defray the potential costs of a liquidation or receivership of a digital asset
				depository, all digital asset depositories shall maintain a surety bond and/or
				pledge of assets in the amount of one million dollars ($1,000,000.00).
002.01A If a digital asset depository chooses
				to meet this requirement with a pledge of assets, such assets must be highly
				liquid assets secured by the United States or an agency of the United States.
002.01A1 Liquid assets are properly held
				United States currency, and highly liquid obligations of the U.S. Treasury or
				other U.S. federal agency.
002.01A2
				Liquid assets may include other investments determined by the Director to be
				the equivalent of highly liquid obligations of the U.S. Treasury or other U.S.
				federal agency and determined permissible under safe and sound banking
				practices.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 2 - SURETY BONDS AND PLEDGE OF ASSETS; INSURANCE › Section 47-2-003 - INSURANCE TO COVER OPERATIONAL RISKS

Current through June 17, 2024
003.01 To cover the
				operational risks of the digital asset depository, a digital asset depository
				shall maintain appropriate insurance or bond coverage, which shall include
				coverage for directors' and officers' liability, errors and omissions
				liability, and information technology infrastructure and activities liability,
				in the amount of ten million dollars ($10,000,000.00).
003.02 The Director shall have the discretion
				to increase or decrease the required amount of insurance or bonds, as may be
				required to ensure the digital asset depository's continued safety and
				soundness. In making the determination to require an increase or allow a
				decrease under this Section, the Director may consider the depository's call
				reports, examinations, investigations, or any other indicia of financial
				condition that may provide information as to the depository's ongoing safety
				and soundness.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 3 - CAPITAL REQUIREMENTS; PAID-UP OPERATING EXPENSES › Section 47-3-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §§
									8-3013 and
				8-3031 of the Nebraska Financial
				Innovation Act ("Act").
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, the Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 3 - CAPITAL REQUIREMENTS; PAID-UP OPERATING EXPENSES › Section 47-3-002 - CAPITAL REQUIREMENTS

Current through June 17, 2024
002.01 No digital
				asset depository may be chartered with capital stock of less than ten million
				dollars ($10,000,000.00).
002.02 The
				Director shall have the discretion to increase the required amount of capital,
				as may be required to ensure the digital asset depository's continued safety
				and soundness. In making the determination to require an increase or allow a
				decrease under this Section, the Director may consider the depository's call
				reports, examinations, investigations, or any other indicia of financial
				condition that may provide information as to the depository's ongoing safety
				and soundness.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 3 - CAPITAL REQUIREMENTS; PAID-UP OPERATING EXPENSES › Section 47-3-003 - SURPLUS REQUIREMENTS

Current through June 17, 2024
003.01 Applicants
				for a charter to become a digital asset depository under the Act must provide
				proof of a paid-up surplus fund of at least three (3) years of estimated
				operating expenses. Such operating expenses must be included within a
				comprehensive estimate provided to the Director as part of the application for
				a charter.
003.02 The term
				"Operating Expenses" means any and all expenses an applicant incurs through its
				normal business operations, and must include, but is not limited to:
003.02A Costs of real property utilized by
				the Applicant, including but not limited to: rent, mortgage payments, utility
				costs, insurance, maintenance costs, and property taxes;
003.02B Costs of personal property utilized
				by the applicant, including, but not limited to, materials, machinery,
				equipment, and software;
003.02C
				Insurance;
003.02D Payroll
				expenses;
003.02E Marketing
				costs;
003.02F Business services
				offered by partners, affiliates, third parties, or other vendors; and
003.02G All other ongoing costs of the
				digital asset depository of any kind or nature.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 4 - DIGITAL ASSET DEPOSITORY DEPARTMENT; CHARTER AMENDMENT; DIRECTOR; POWERS AND DUTIES › Section 47-4-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §
									8-3031 of the Nebraska Financial
				Innovation Act ("Act").
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, the Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 4 - DIGITAL ASSET DEPOSITORY DEPARTMENT; CHARTER AMENDMENT; DIRECTOR; POWERS AND DUTIES › Section 47-4-002 - ESTABLISHMENT OF A DIGITAL ASSET DEPOSITORY DEPARTMENT AND CHARTER AMENDMENT REQUIREMENT

Current through June 17, 2024
002.01 Any financial
				institution with articles of incorporation that authorize the conduct of a
				digital asset depository business may be further chartered by the Director to
				operate a digital asset depository department.
002.02 The Director shall require such
				financial institution to apply for an amendment to its charter.
002.03 A digital asset depository department
				shall be separate and apart from every other department of the financial
				institution. Evaluation of the capital the financial institution dedicates to
				its digital asset depository department will be based upon a risk-based
				analysis of the size, risk profile, and proposed activities of the digital
				asset department.
002.04 Where a
				digital asset depository department shall operate in a manner that includes
				accounts, services, or products that are insured by the Federal Deposit
				Insurance Corporation ("FDIC"), the digital asset depository department must
				ensure that the sales or recommendations of such products are kept separate and
				apart from the sales or recommendations of any digital asset accounts,
				services, or products.
002.04A To minimize
				customer confusion with FDIC-insured products, the sales or recommendations of
				digital asset accounts, services, or products on the premises of a digital
				asset depository department should be conducted in a physical location distinct
				from the area where retail deposits are taken.
002.04B Signs or other means should be used
				to distinguish the digital asset sales area from the retail deposit-taking area
				of the digital asset depository department. However, in the limited situation
				where physical considerations prevent sales or recommendations of digital asset
				accounts, services, or products from being conducted in a distinct area, the
				digital asset depository has a heightened responsibility to ensure appropriate
				measures are in place to minimize customer
				confusion.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 5 - REPORTS; CALL REPORTS › Section 47-5-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §§
									8-3023 and
				8-3031 of the Nebraska Financial
				Innovation Act ("Act").
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, the Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 5 - REPORTS; CALL REPORTS › Section 47-5-002 - REPORTS

Current through June 17, 2024
002.01 Any and all reports required to be
				provided under the Act are required to be provided in the form and manner
				developed by, authorized by, or otherwise approved for use by the Director, and
				are to be complete and attested to as accurate.
002.01A The failure to provide any required
				report in the form and manner in which it is required to be provided, shall
				constitute a failure to provide such report under Neb. Rev. Stat. §
										8-3029, and shall subject the
				required filer of such report to the imposition of a fee of five thousand
				dollars ($5,000.00) for each day that the report is not provided in the
				required form and manner.
002.01B
				In accordance with Neb. Rev. Stat. §
										86-611, any report that requires a
				signature from a representative of a digital asset depository may be signed by
				a digital signature, if it comports to the requirements contained within Neb.
				Rev. Stat. §
										86-611.
002.01C The failure to provide any required
				report in a completed manner, containing all of the information to be provided
				within such report, shall constitute a failure to provide such report under
				Neb. Rev. Stat. §
										8-3029, and shall subject the
				required filer of such report to the imposition of a fee of five thousand
				dollars ($5,000.00) for each day that the report is not provided in the
				required form and manner.
002.01D
				The submission or filing of any report required under the Act to the
				Department, shall constitute an attestation by the person making such
				submission or filing that the information contained within such report is
				accurate to the best of that person's knowledge.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 5 - REPORTS; CALL REPORTS › Section 47-5-003 - CALL REPORTS

Current through June 17, 2024
003.01 The term
				"call report" is defined as a recurring financial report of the digital asset
				depository's operations, financial condition, and production over a specific
				period of time, which allows for the Department to assess the financial health
				and risk profile of the depository.
003.02 Digital asset depositories shall be
				required to file call reports on a monthly basis. Such call reports shall be on
				forms prescribed by the Director and shall contain all required information
				under such form.
003.03 A digital
				asset depository, which is also an existing financial institution may file a
				consolidated call report featuring required non-digital asset depository call
				reporting data, together with all digital asset depository specific
				data.
003.04 Failure to file any
				required call report may result in the Department taking administrative action
				as set forth in the Act and pursuant to the other provisions of this
				Rule.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 5 - REPORTS; CALL REPORTS › Section 47-5-004 - REPORTS REQUIRED PURSUANT TO FEDERAL LAW

Current through June 17, 2024
004.01 Digital
				asset depositories shall comply with all federal financial institution
				reporting or notice requirements, which includes, but is not limited to:
004.01A Anti-Money Laundering and Countering
				the Financing of Terrorism rules and regulations;
004.01B Office of Foreign Assets Control;
				and
004.01C Financial Crimes
				Enforcement Network requirements regarding Know Your Customer or due diligence
				performance.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 5 - REPORTS; CALL REPORTS › Section 47-5-005 - COMPUTATION OF TIME

Current through June 17, 2024
005.01 In computing
				time prescribed or allowed by any applicable statute or rule in which the
				method of computing time is not specifically provided, days will be computed by
				excluding the day of the act or event and including the last day of the period.
				If the last day of the period falls on a Saturday, Sunday, or legal holiday,
				the period shall include the next business day.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 6 - COMPLAINTS › Section 47-6-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §
									8-3031 of the Nebraska Financial
				Innovation Act ("Act").
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, the Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 6 - COMPLAINTS › Section 47-6-002 - COMPLAINTS MANAGEMENT PROGRAM

Current through June 17, 2024
002.01 A Digital
				Asset Depository shall have in effect a documented system or process to intake,
				review, and address complaints from customers directly, and those forwarded
				from the Department of Banking and Finance.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 6 - COMPLAINTS › Section 47-6-003 - RESPONSE TIMELINESS

Current through June 17, 2024
003.01 Any
				complaints received by a Digital Asset Depository shall acknowledge receipt of
				a complaint to the maker or provider, in writing, within two (2) business days
				of receiving the complaint. All complaints shall be fully responded to within
				ten (10) business days.
003.02 Any
				failure to address, or respond, to a complaint, as required in this Rule, will
				be considered a violation of the Act. Pursuant to Neb. Rev. Stat. §
									8-1,134, violations of any
				provision of Chapter 8, or any rule and regulation or order of the Director,
				may result in an administrative proceeding being brought against the digital
				asset depository.
003.02A An administrative
				proceeding may result in the issuance of an administrative fine, along with the
				costs of the Department in the proceeding, against the depository. Such fines
				shall not exceed ten thousand dollars ($10,000.00) for the first offense and
				twenty-five thousand dollars ($25,000.00) for subsequent offenses.
003.02B In addition to an administrative fine
				and the costs of the proceeding being assessed against the depository, within
				any proceeding instituted under Neb. Rev. Stat. §
										8-1,134 the Director may take
				further administrative action against the depository's charter and/or its
				directors and officers, including, but not limited to, revocation, suspension,
				or cancellation of the charter.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 6 - COMPLAINTS › Section 47-6-004 - NOTICE REGARDING THE SUBMISSION OF COMPLAINTS

Current through June 17, 2024
004.01 Each
				chartered digital asset depository shall provide instructions on the filing of
				a complaint with the digital asset depository, including via mail, telephone,
				or email, in a clear and conspicuous manner, on its website, mobile
				applications, advertisements, forms, and in any other form and manner as shall
				be required by the Director.
004.02
				In addition to the charter-specific requirements detailed in Section003.01 of
				this Rule, each chartered entity shall also provide information, in the same
				forms and manner contained therein, which states that any complaints may also
				be directed to the Department, with the contact information of the Department
				included therein.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 6 - COMPLAINTS › Section 47-6-005 - COMPUTATION OF TIME

Current through June 17, 2024
005.01 In computing
				time prescribed or allowed by any applicable statute or rule in which the
				method of computing time is not specifically provided, days will be computed by
				excluding the day of the act or event and including the last day of the period.
				If the last day of the period falls on a Saturday, Sunday, or legal holiday,
				the period shall include the next business day.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 7 - NOTICE AND STATEMENT REGARDING DEPOSIT INSURANCE AND RISK › Section 47-7-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §
									8-3011 and Neb. Rev. Stat. §
									8-3031 of the Nebraska Financial
				Innovation Act ("Act").
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 7 - NOTICE AND STATEMENT REGARDING DEPOSIT INSURANCE AND RISK › Section 47-7-002 - REQUIRED NOTICE

Current through June 17, 2024
002.01 Digital asset
				depositories are required to display and include in all advertising and in all
				physical locations, such as windows or stands, and in all virtual locations,
				where digital asset deposits may be made, that digital assets are not insured
				by the Federal Deposit Insurance Corporation ("FDIC"); and
002.02 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 FDIC insured."
002.03 Where a digital asset depository also
				has deposit accounts that are insured by the FDIC within the same physical
				office location, the digital asset depository may still physically post notice
				that deposit accounts are insured by the FDIC, but must do so in a separate and
				distinct physical posting, apart from the required notice and statement
				regarding digital asset deposits and accounts, as detailed above in Sections
				002.01 and 002.02 of this Rule.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 8 - RESPONSE PROGRAM FOR A CYBER SECURITY EVENT OR DATA BREACH › Section 47-8-001 - AUTHORITY

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director of the Department of Banking
				and Finance ("Department") in Neb. Rev. Stat. §
									8-3031 of the Nebraska Financial
				Innovation Act ("Act).
001.02 Any
				terms used within this Rule shall have a definition consistent with the
				definitions contained within Neb. Rev. Stat. §
									8-3003 and Neb. Rev. Stat. §
									8-101.03. In the event of any
				inconsistency between definitions in these Sections, the Act shall
				control.
001.03 The Department has
				determined that this Rule is in the public interest.
001.04 The Director may, on a case-by-case
				basis, and with prior written notice to the affected person, require adherence
				to additional standards or policies, as deemed necessary in the public
				interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 47 - DEPARTMENT OF BANKING AND FINANCE › Chapter 8 - RESPONSE PROGRAM FOR A CYBER SECURITY EVENT OR DATA BREACH › Section 47-8-002 - REQUIRED RESPONSE PROGRAM AND NOTICE TO THE DEPARTMENT

Current through June 17, 2024
002.01 Digital asset depositories shall have
				in place a written response program detailing the institution's prescribed
				method of handling unauthorized access of customer information, a data breach,
				or any other similar event in which the integrity of the ledger or structure of
				an underlying digital asset that is being custodied by the digital asset
				depository is at risk.
002.02 At
				such time as a digital asset depository becomes aware of an incident referenced
				in this Section 002 of this Rule, the depository must immediately notify the
				Department of the event, and must also review Neb. Rev. Stat. §§
									87-801 to
				87-807 to determine whether the
				incident may require notification to the Nebraska Attorney General and to
				impacted customers, if any. In the event that customer notification is
				required, the Department shall be provided with a copy of the notice sent to
				affected customers prior to, or simultaneously with, the customers receiving
				the notice.
002.03 If such an
				incident would require the filing of any federal required reporting or
				notification, such as a suspicious activity report, a copy of any such
				reporting or notification must be timely delivered to the
				Department.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - GENERAL PROVISIONS › Section 48-1-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director in Section
				8-1120(3)
				 of the Securities Act of Nebraska
				("Act").
001.02 The Department has
				determined that this Rule is consistent with investor protection and is in the
				public interest.
001.03 The
				Director may, on a case-by-case basis, and with prior written notice to the
				affected persons, require adherence to additional standards or policies, as
				deemed necessary in the public interest.
001.04 The definitions in 48 NAC 2 apply to
				the provisions of this Rule, unless otherwise specified.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - GENERAL PROVISIONS › Section 48-1-002 - ADMINISTRATION

Current through June 17, 2024
The Securities Act of Nebraska is administered by the
				  Director of Banking and Finance, Department of Banking and Finance, pursuant to
				  Sections
				  8-1101 through
				  8-1123, R.R.S.
				  1943. The offices of the Department are open from the hours of 8 a.m. to 5
				  p.m., Monday through Friday, legal holidays excepted. The mailing address of
				  the agency is Department of Banking and Finance, P.O. Box 95006, Lincoln,
				  Nebraska 68509-5006.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - GENERAL PROVISIONS › Section 48-1-003 - PAYMENT OF FEES

Current through June 17, 2024
All filing fees are payable by corporate check, money order,
				  or ACH to the Nebraska Department of Banking and Finance or through a
				  registration depository or electronic filing system recognized by the Director.
				  Cash, personal checks, and checks drawn on non-United States banks will not be
				  accepted.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - GENERAL PROVISIONS › Section 48-1-004 - RETENTION OF FEES UPON WITHDRAWAL OR DENIAL

Current through June 17, 2024
004.01 Upon
				withdrawal or denial of an application for registration as a broker-dealer,
				agent, investment adviser, investment adviser representative, or issuer-dealer,
				the entire fee shall be retained by the Department.
004.02 Upon withdrawal of a notice filing by
				a federal covered adviser, the entire fee shall be retained by the
				Department.
004.03 Upon withdrawal
				or denial of an application for registration of securities, one hundred dollars
				($100.00) shall be retained by the Department.
004.04 Upon the withdrawal of a notice filing
				for federal covered securities, except securities issued by an investment
				company, the entire fee shall be retained by the Department.
004.05 Upon withdrawal of a notice filing by
				an investment company subject to the Investment Company Act of 1940, a fee of
				one hundred dollars ($100.00) shall be retained by the Department.
004.06 Upon the withdrawal or denial of an
				exemption notice, the entire fee shall be retained by the Department.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 1 - GENERAL PROVISIONS › Section 48-1-005 - EFFECTIVE DATE OF FILING

Current through June 17, 2024
A document is filed when it is received in the office of the
				  Department with the appropriate fee, or when the filer makes a filing and pays
				  the fees to an electronic system recognized by the Director. A document so
				  filed cannot be returned.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 2 - DEFINITIONS › Section 48-2-001 - GENERAL

Current through June 17, 2024
001.01 This Rule has been promulgated
				pursuant to authority delegated to the Director in Section
				8-1120(3)
				 of the Securities Act of Nebraska
				("Act").
001.02 The Department has
				determined that this Rule relating to definitions be applied to Title 48 of the
				Nebraska Administrative Code, unless otherwise specified therein. This Rule is
				consistent with investor protection and is in the public interest.
Nebraska Administrative Code › Topic - BANKING AND FINANCE, DEPARTMENT OF › Title 48 - DEPARTMENT OF BANKING AND FINANCE › Chapter 2 - DEFINITIONS › Section 48-2-002 - DEFINITIONS

Current through June 17, 2024
The following words and terms have the meanings set forth
				  below unless the context clearly indicates otherwise.
002.01 Affiliate means a person who, directly
				or indirectly, controls, is controlled by, or is under common control with a
				person as defined herein.
002.02
				Control means the power to direct or influence the direction of the management
				or policies of a person, directly or indirectly, through the ownership of
				voting securities, by contract or otherwise. A presumption of control exists
				for any person who
002.07A Is a director,
				general partner, member, manager, or officer exercising executive
				responsibility (or has similar status or function);
002.07B Has the right to vote twenty percent
				or more of a class of voting securities; or
002.07C In the case of a partnership or
				limited liability company, has contributed or has the right upon dissolution
				twenty percent or more of the capital.