One Hundred Ninth Legislature - First Session - 2025
Introducer€s Statement of Intent
LB250
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Chairperson: Senator Mike Jacobson
Committee: Banking, Commerce and Insurance
Date of Hearing: January 28, 2025
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The following constitutes the reasons for this bill and the purposes which are sought to be
accomplished thereby:
LB250 updates the residency requirements for state-chartered banks to allow banks to make
reasonable efforts to have a majority of the bank directors have their residences in Nebraska,
within 25 miles of the main office of the bank, in the county in which the main office of such
bank is located, or in counties where branches are located. This change allows state-chartered
banks operating in multiple states to have adequate representation on its board of directors
from each state.
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Principal Introducer:________________________________
Senator Mike Jacobson
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