49 Neb. Admin. Code, ch. 3, § 005

Current through September 17, 2024

Section 49-3-005 - APPLICATIONS TO MOVE CHARTERS, LICENSES, OR CERTIFICATES OF AUTHORITY

005.01 An applicant for the move of the charter and main office of a bank outside the corporate limits of the city where the charter is located must show to the Department that:

005.01A The application will promote the public necessity of the community where the applicant proposes to relocate;

005.01B The application will promote the convenience and advantage of the community where the applicant proposes to relocate;

005.01C There is a substantial likelihood that there will be no adverse effect on existing financial institutions in the applicant's proposed primary service area, other than normal competitive effects, if the application is approved; and

005.01D Proof that the move will have a minimal effect on applicant's existing customers in the community being vacated. Such proof may be shown by the existence of a branch in that community. If an applicant cannot provide such proof, it must submit a proposal to continue to serve such customers on a limited basis.

005.02 An applicant for the move of the certificate of authority and main office of a building and loan association, a savings and loan association, or a savings bank outside the corporate limits of the city where the institution is located must show to the Department that:

005.02A There is a need for such an institution in the community where the applicant proposes to relocate;

005.02B The move will not result in undue injury to properly conducted building and loan associations, savings and loan associations, or savings banks located in the community where the applicant proposes to relocate;

005.02C There is a reasonable probability of usefulness and success for the applicant as a result of the move; and

005.02D Proof that the move will have a minimal effect on applicant's existing customers in the community being vacated. Such proof may be shown by the existence of a branch in that community. If an applicant cannot provide such proof, it must submit a proposal to continue to serve such customers on a limited basis.

005.03 An applicant for the move of a license and main office of an industrial loan and investment company outside the corporate limits of the city in which the license is located must show to the Department that:

005.03A The application will promote the public necessity of the community where the applicant proposes to relocate;

005.03B The application will promote the convenience and advantage of the community where the applicant proposes to relocate;

005.03C There is a substantial likelihood that there will be no adverse effect on existing financial institutions in the applicant's proposed primary service area, other than normal competitive effects, if the application is approved; and

005.03D Proof that the move will have a minimal effect on applicant's existing customers in the community being vacated. Such proof may be shown by the existence of a branch in that community. If an applicant cannot provide such proof, it must submit a proposal to continue to serve such customers on a limited basis.

005.04 An applicant for the move of the certificate of approval and main office of a credit union outside the corporate limits of the city in which the license is located must show to the Department that:

005.04A The proposed location will benefit existing members of the applicant;

005.04B The proposed location has the potential for attracting new members to applicant's field of membership;

005.04C The proposed location will be adequately staffed and supervised; and

005.04D Proof that the move will have a minimal effect on applicant's existing members residing in the community being vacated. Such proof may be shown by the existence of a branch in that community. If an applicant cannot provide such proof, it must submit a proposal to continue to serve such members on a limited basis.

005.05 An applicant for the move of the charter and main office of a trust company outside the corporate limits of the city in which the charter is located must show to the Department that:

005.05A The application will promote the public necessity or need of the community where the applicant proposes to relocate;

005.05B The application will promote the convenience and advantage of the community where the applicant proposes to relocate;

005.05C There is a substantial likelihood that there will be no adverse effect on existing financial institutions in the applicant's proposed primary service area, other than normal competitive effects, if the application is approved; and

005.05D Proof that the move will have a minimal effect on applicant's existing customers in the community being vacated. Such proof may be shown by the existence of a branch trust office in that community. If an applicant cannot provide such proof, it must submit a proposal to continue to serve such customers on a limited basis.

005.06 An applicant for the move within the corporate limits of the city of the main office of a bank, building and loan association, savings and loan association, savings bank, industrial loan and investment company, credit union, trust company, or installment loan company must provide to the Department:

005.06A An explanation of the reasons for the move;

005.06B An analysis of the financial feasibility of the move, including a discussion of the disposition of the applicant's current premises; and

005.06C An explanation of the effect that closing the existing office will have on applicant's existing customers.

49 Neb. Admin. Code, ch. 3, § 005