8-3027 – Failure, unsafe or unsound condition, or endangerment of customers’ interests; director; conduct liquidation or appoint receiver.
8-3027. Failure, unsafe or unsound condition, or endangerment of customers’ interests; director; conduct liquidation or appoint receiver. (1) If the director finds that a digital asset depository has failed, is operating in an unsafe or unsound condition, or is endangering the interests of customers, and the failure, unsafe or unsound condition, or endangerment has not […]
8-3028 – Voluntary dissolution; procedure.
8-3028. Voluntary dissolution; procedure. (1) A digital asset depository may voluntarily dissolve in accordance with this section. Voluntary dissolution shall be accomplished by either liquidating the digital asset depository or reorganizing the digital asset depository into an appropriate business entity that does not engage in any activity authorized only for a digital asset depository. Upon […]
8-3029 – Reports; failure to submit as prescribed; fee.
8-3029. Reports; failure to submit as prescribed; fee. If a digital asset depository fails to submit any report required by the Nebraska Financial Innovation Act or by order or rules and regulations of the director within the prescribed period, the director may impose and collect a fee of five thousand dollars for each day the […]
8-3030 – Digital asset depository; officer, director, employee, or agent; removal; grounds.
8-3030. Digital asset depository; officer, director, employee, or agent; removal; grounds. Each officer, director, employee, or agent of a digital asset depository, following written notice from the director, is subject to removal upon order of the director if such officer, director, employee, or agent knowingly, willfully, or negligently: (1) Fails to perform any duty required […]
8-3031 – Orders; rules and regulations.
8-3031. Orders; rules and regulations. The director may issue any order and adopt and promulgate any rules and regulations necessary to implement the Nebraska Financial Innovation Act. Source Laws 2021, LB649, § 31.
8-3101 – Act, how cited.
8-3101. Act, how cited. Sections 8-3101 to 8-3104 shall be known and may be cited as the LIBOR Transition Act. Source Laws 2022, LB707, § 1. Operative Date: April 19, 2022
8-3102 – Terms, defined.
8-3102. Terms, defined. For purposes of the LIBOR Transition Act: (1) Benchmark means an index of interest rates or dividend rates that is used, in whole or in part, as the basis of or as a reference for calculating or determining any valuation, payment, or other measurement under or in respect of a contract, security, […]
8-3103 – Contract, security, or instrument; recommended benchmark replacement; how determined; act; effect; applicability.
8-3103. Contract, security, or instrument; recommended benchmark replacement; how determined; act; effect; applicability. (1) On the LIBOR replacement date, the recommended benchmark replacement shall, by operation of law, be the benchmark replacement for any contract, security, or instrument that uses LIBOR as a benchmark and: (a) Contains no fallback provisions; or (b) Contains fallback provisions […]
8-3104 – Recommended benchmark replacement; selection or use; effects; treatment; not subject to liability or certain claims.
8-3104. Recommended benchmark replacement; selection or use; effects; treatment; not subject to liability or certain claims. (1) The selection or use of a recommended benchmark replacement as a benchmark replacement under or in respect of a contract, security, or instrument by operation of section 8-3103 shall constitute: (a) A commercially reasonable replacement for and a […]
8-3021 – Appeal.
8-3021. Appeal. Any decision of the department or director in approving, conditionally approving, or disapproving a charter or authority for a digital asset depository is appealable in accordance with the Administrative Procedure Act. Source Laws 2021, LB649, § 21. Cross References Administrative Procedure Act, see section 84-920.