LB39

Nebraska LB39 modifies bank board director vacancy notification and appointment rules.

Nebraska LB39 amends the notification and appointment rules for vacancies on the board of directors of a bank. It requires banks to notify the Department of Banking and Finance within thirty days of a vacancy. The bank must fill the vacancy within ninety days by appointment. If the vacancy leaves a minimum of five directors, the appointment is optional. The bill repeals the original section 8-124.01, Reissue Revised Statutes of Nebraska.