On Mar. 6, NEB LEG passed bill on director residency requirements.
NEB LEG passed bill LB 250 to change provisions relating to bank board qualifications.
Amended NEB revised statutes NEB FIN 8-126 by changing residency requirements.
Proposed Amendments
Made amendments to residency requirements so that majority of directors would only need to meet requirements to reside in NEB; reside within 25 miles of main office.
Otherwise reside within the county in which the main office of such bank is located; or majority of directors reside within counties in which branches of such bank are located.
Legislative History
On Jan. 14, 2025, bill introduced; on Mar. 6, 2025, bill was passed, sent to governor.
Effectiveness
Bills without emergency clauses or effective dates specified in bill become law three calendar months after the legislative session ends; expected to adjourn Jun. 9, 2025.
Mar. 12, 2025 NEB LEG Governor Approval
On Mar. 12, 2025 NEB LEG reported that governor signed LB 250 on Mar. 11, 2025.
Regulators
NEB LEG
Entity Types
Bank
Reference
Bill, 3/12/2025; Bill LB250, 3/6/2025; Citation: NEB FIN 8-126;
