Section 45-9-002 - DEFINITIONS002.01 For purposes of this Rule: 002.01A "Active Executive Officer" is as defined in Neb. Rev. Stat. § 8-139.002.01B "Class I Executive Officer's License" means a license granted prior to the effective date of this Rule to any person who performed any functions of an active executive officer with the exception of making loans or investments;002.01C "Class II Executive Officer's License" means a license granted prior to the effective date of this Rule to any person who directly or indirectly made loans or investments for a bank;002.01D "Investment" means an outlay or expenditure of institutional funds requiring individual judgment as to the appropriateness of the expenditure, but does not include routine outlays or expenditures requiring little or no judgment, such as investment of excess funds in overnight federal funds.002.01E "Loan" means any extension of credit.002.01F "Opt-In Bank" means a bank which utilizes the Department's licensing process for active executive officers.002.01G "Opt-Out Bank" means a bank which has elected for its active executive officers to be exempt from the requirement to apply for and obtain a license from the Department.45 Neb. Admin. Code, ch. 9, § 002
Adopted effective 11/25/2023