Nebraska Administrative Code
Topic - BANKING AND FINANCE, DEPARTMENT OF
Title 45 - BANKING RULES
Chapter 10 - INSIDER LOAN GUARANTEES
Section 45-10-002 - GUARANTEES
Universal Citation: 45 NE Admin Rules and Regs ch 10 ยง 002
Current through March 20, 2024
002.01 For purposes of Neb. Rev. Stat. § 8-143.01, an extension of credit means that an insider directly or indirectly receives funds in exchange for some consideration returning to the bank.
002.02 Except as provided in Subsection 002.03 of this Rule, an insider may be a guarantor of an extension of credit without falling within the purview of Neb. Rev. Stat. § 8-143.01.
002.03 An insider will fall within the purview of Neb. Rev. Stat. § 8-143.01 even though the insider is only in the capacity of guarantor when:
002.03A the loan is in default, or
002.03B the maker clearly does not have the
ability or financial capacity to repay the extension of credit, and reliance is
being placed upon the guarantor for repayment.
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