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 appointment from the remaining directors, with the appointed director serving until the next election. The bill also includes a provision for banks to apply to the department for approval of the newly appointed director. The original section 8-124.01 is repealed as part of this legislative update.

Statutes affected:
Introduced: 8-124.01