ONE HUNDRED NINTH LEGISLATURE - FIRST SESSION - 2025
COMMITTEE STATEMENT
LB250
Hearing Date: Tuesday January 28, 2025
Committee On: Banking, Commerce and Insurance
Introducer: Jacobson
One Liner: Change provisions relating to the composition of the board of directors of a bank
Roll Call Vote - Final Committee Action:
Advanced to General File with amendment(s)
Vote Results:
Aye: 8 Senators Bostar, Dungan, Hallstrom, Hardin, Jacobson, Riepe,
Wordekemper, von Gillern
Nay:
Absent:
Present Not Voting:
Testimony:
Proponents: Representing:
Senator Mike Jacobson Opening Presenter
Mike Nelson Firstier Bank
Ryan McIntosh Nebraska Bankers Association
Dexter Schrodt Nebraska Independent Community Bankers
Opponents: Representing:
Neutral: Representing:
* ADA Accommodation Written Testimony
Summary of purpose and/or changes:
LB 250 would amend Neb. Rev. Stat. ยง 8-126 by changing the residency requirements for the board of directors of a
bank. Specifically, the bill would change the residency requirements so that a majority of the directors would only
need to meet one of the following requirements:
a) Reside in this state;
b) Reside within twenty-five miles of the main office of the bank;
c) Reside within the county in which the main office of such bank is located; or
d) Reside within counties in which branches of such bank are located.
Explanation of amendments:
AM 58 amends LB 250 by dividing the individual requirements of residency into separate subsections to clarify that
the requirements are separate, and that the board member only needs to meet at least one of such requirements.
Committee Statement: LB250
Banking, Commerce and Insurance Committee
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Mike Jacobson, Chairperson
Committee Statement: LB250
Banking, Commerce and Insurance Committee
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