8-918 Unsafe or unauthorized activities; powers of department. - Nebraska Statutes

8-918. Unsafe or unauthorized activities;powers of department.Ifthe department, upon investigation, determines that any officer or directorof a bank holding company which owns or controls a state-chartered bank isconducting the business of the bank holding company or the business of itssubsidiary state-chartered bank or banks in an unsafe or unauthorized manneror is endangering the interest of the bank holding company or the interestof its subsidiary state-chartered bank or banks, the department shall haveauthority, after notice and opportunity for hearing, to do any or all of thefollowing: (1) Remove such officer or director of the bank holding companyfrom acting as an officer or director of the bank holding company; and (2)impose fines and order any other necessary corrective action against suchofficer or director pursuant to sections 8-1,134 to 8-1,139. The departmentmay adopt and promulgate rules and regulations to carry out this section. SourceLaws 2010, LB890, § 11.Operative Date: July 15, 2010