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NebraskaLB250109th Legislature 1st and 2nd Sessionslegislature

Change provisions relating to qualifications of the board of directors of a bank

Sponsored By: Mike Jacobson

Signed by Governor

Banking, Commerce and Insurance Committee

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Banks must try for local directors

Nebraska banks must make reasonable efforts so most board members live locally. A majority should have their primary home in Nebraska, within 25 miles of the main office, in the main office’s county, or in a county with a branch. This keeps a local focus but is less strict than the old residency rule.

Stronger vetting of bank directors

Directors must have good moral character, known integrity, and business experience. A bank must apply to the Department of Banking and Finance before anyone can serve as a director. The Director can revoke approval after an investigation and a hearing if a director runs the bank unsafely or endangers depositors or stockholders. The Department can set rules and forms to run this process.

Sponsors & Cosponsors

Sponsor

  • Mike Jacobson

    Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 246 • No: 1

legislature vote • 3/6/2025

Final Reading

Yes: 47 • No: 1

legislature vote • 2/25/2025

Vote

Yes: 38 • No: 0 • Other: 11

legislature vote • 2/5/2025

Vote

Yes: 43 • No: 0 • Other: 6

legislature vote • 2/5/2025

Vote

Yes: 40 • No: 0 • Other: 9

legislature vote • Unknown

Vote

Yes: 40 • No: 0 • Other: 9

legislature vote • Unknown

Vote

Yes: 38 • No: 0 • Other: 11

Actions Timeline

  1. Approved by Governor on March 11, 2025

    3/11/2025legislature

  2. Presented to Governor on March 6, 2025

    3/6/2025legislature

  3. President/Speaker signed

    3/6/2025legislature

  4. Passed on Final Reading 47-1*-1

    3/6/2025legislature

  5. Placed on Final Reading

    3/3/2025legislature

  6. Advanced to Enrollment and Review for Engrossment

    2/25/2025legislature

  7. Jacobson AM256 adopted

    2/25/2025legislature

  8. Enrollment and Review ER7 adopted

    2/25/2025legislature

  9. Jacobson AM256 filed

    2/21/2025legislature

  10. Enrollment and Review ER7 filed

    2/12/2025legislature

  11. Placed on Select File with ER7

    2/12/2025legislature

  12. Hallstrom name added

    2/11/2025legislature

  13. Advanced to Enrollment and Review Initial

    2/5/2025legislature

  14. Banking, Commerce and Insurance AM58 adopted

    2/5/2025legislature

  15. Banking, Commerce and Insurance AM58 filed

    1/29/2025legislature

  16. Placed on General File with AM58

    1/29/2025legislature

  17. Notice of hearing for January 28, 2025

    1/16/2025legislature

  18. Referred to Banking, Commerce and Insurance Committee

    1/16/2025legislature

  19. Date of introduction

    1/14/2025legislature

Bill Text

  • Introduced

    1/14/2025

    PDF

  • Enrolled / Slip Law

    PDF

  • Final / Enacted

    PDF

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