Nebraska Statutes 8-3020. Conditions to commence business; compliance required; failure to commence business; effect
Current as of: 2023 | Check for updates
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(1) If an application is approved, a charter shall not be issued and the digital asset depository shall not commence business before satisfaction of all conditions precedent contained in the director’s order or conditional order.
Terms Used In Nebraska Statutes 8-3020
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
(2) If an approved digital asset depository fails to commence business in good faith within twelve months after the issuance of a charter, the charter shall expire. The director, for good cause and upon an application filed prior to the expiration of the twelve-month period, may extend the time within which the digital asset depository may open for business.
Source
- Laws 2021, LB649, § 20;
- Laws 2023, LB92, § 34.
- Operative Date: June 7, 2023