8-132.01 Impairment of capital; amortization of loan losses; authorized; conditions. - Nebraska Statutes

8-132.01. Impairment of capital; amortization of loan losses; authorized; conditions.Whenever any examination of a bank reveals that loan losses have occurred at the bank to the extent that the capital of the bank is impaired and additional capitalization is required, such bank shall, after meeting the following qualification, be allowed to amortize such loan losses over a period of seven years. In order to meet the amortization qualification, the bank shall submit a written plan to the Director of Banking and Finance outlining specific steps the bank intends to take to avoid further deterioration and to return to profitability. The director shall have the authority to accept or reject such plan for qualification and, if accepted, shall insure that such plan is regularly reviewed. SourceLaws 1986, LB 983, § 1; Laws 1989, LB 296, § 1.