This bill amends section 8-124.01 of the Reissue Revised Statutes of Nebraska, which pertains to the notification process for vacancies on the board of directors of banks. The new language specifies that "within thirty days of a vacancy on the board of directors of a bank, the bank shall notify the department of the vacancy." This replaces the previous wording that stated, "At any time that a vacancy on the board of directors of a bank occurs, the bank shall, within thirty days, notify the department of the vacancy."

Additionally, the bill maintains the requirement that vacancies must be filled within ninety days by the remaining directors, with the appointed director serving until the next election. It also stipulates that if the vacancy leaves a minimum of five directors, the appointment becomes optional. The bill concludes by repealing the original section 8-124.01, thereby updating the legal framework governing bank director vacancies in Nebraska.

Statutes affected:
Introduced: 8-124.01