LB 250 — Change provisions relating to qualifications of the board of directors of a bank
Last action — Approved by Governor on March 11, 2025
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✓Introduced
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✓In Committee
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✓Passed Legislature
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✓To Executive
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5Enacted
This bill has been enacted into law. Introduced January 14, 2025. Enacted.
Signed by Governor Jim Pillen (Republican) on March 12, 2025.
Odds of enactment
High chanceBased on the sponsor, cosponsors, and committee posture, this bill has a high chance of becoming law.
Upgrade to see the exact probability and what's driving it.
A statistical estimate from our own model of past outcomes — an insight, not a guarantee. Policymaking is volatile.
Prognosis
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Enacted
Current position in the legislative process.
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2 sponsors
1 primary, 1 co-sponsors signed on.
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Mixed recorded votes
2 passed, 2 failed in recorded votes so far.
Based on stage, sponsorship breadth, committee status, recorded votes, and cross-state momentum — a description of the observable signals, not a prediction.
Bill Text
What changed in the latest version
31 added · 6 removedPlain-language change summary
The amendments to Bill LB 250 focus on the qualifications for the board of directors of banks in Nebraska. They emphasize that a majority of directors should reside either in the state or within 25 miles of the bank's main office, encouraging local representation. Additionally, the bill specifies that all directors must have good moral character and business experience and must be approved by the Department of Banking and Finance. These changes are important because they aim to ensure that bank leaders are closely tied to the communities they serve, which can help promote trust and accountability in local banking practices.
ER7 ER7 LB250 LB250 MJP2025 -LEGISLATIVE 02/07/2025BILL MJP250 -Approved 02/07/2025by Ethe ANDGovernor RMarch AMENDMENTS11, TO2025 LB 250 Introduced by Guereca,Jacobson, 7,42; Chairman Enrollment and Review 1.
OnHallstrom, page1. 1, lines 2 and 3, strike "the composition" and insert "qualifications".
A BILL FOR AN ACT relating to banking;
to amend section 8-126, Reissue Revised Statutes of Nebraska;
to change provisions relating to qualifications of the board of directors of a bank;
and to repeal the original section.
Be it enacted by the people of the State of Nebraska, Section 1.
Section 8-126, Reissue Revised Statutes of Nebraska, is amended to read:
8-126 (1) Reasonable efforts shall be made for a A majority of the members of the board of directors of any bank to shall have their primary residences (a) in this state, (b) or within twenty-five miles of the main office of the bank, (c) in .
Reasonable efforts shall be made to acquire members of such board of directors from the county in which the main office of such bank is located, or (d) in and from counties in which branches of such bank are located.
(2) Directors of banks shall be persons of good moral character, known integrity, business experience, and responsibility.
No person shall act as a member of the board of directors of any bank until such bank applies for and obtains approval from the department.
(3) If the department, upon investigation, determines that any director of a bank is conducting the business of the bank in an unsafe or unauthorized manner or is endangering the interests of the stockholders or depositors, the Director of Banking and Finance has the authority, following notice and opportunity for hearing, to revoke such approval to act as a member of the board of directors.
(4) The Director of Banking and Finance may adopt and promulgate rules and regulations and prescribe forms to carry out this section.
Sec.
2.
Original section 8-126, Reissue Revised Statutes of Nebraska, is repealed.
Action History
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Approved by Governor on March 11, 2025
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Passed on Final Reading 47-1*-1
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President/Speaker signed
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Presented to Governor on March 6, 2025
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Placed on Final Reading
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Enrollment and Review ER7 adopted
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Jacobson AM256 adopted
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Advanced to Enrollment and Review for Engrossment
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Jacobson AM256 filed
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Placed on Select File with ER7
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Enrollment and Review ER7 filed
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Hallstrom name added
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Banking, Commerce and Insurance AM58 adopted
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Advanced to Enrollment and Review Initial
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Placed on General File with AM58
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Banking, Commerce and Insurance AM58 filed
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Referred to Banking, Commerce and Insurance Committee
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Notice of hearing for January 28, 2025
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Date of introduction
Sponsors
- Bob Hallstrom · Cosponsor
- Mike Jacobson · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 1 co-sponsors · 47 not signed on · 1 voted No
Sponsors (1)
Co-sponsors (1)
Not signed on (47)
47 members have not signed on to this bill.
Show all 47 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Votes
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 47 | 1 | 0 | 1 |
| Total | 47 | 1 | 0 | 1 |
| % of votes cast | 96% | 2% | 0% | 2% |
How each member voted (49)
| Member | Party | Vote |
|---|---|---|
| McKeon | — | Yea |
| Meyer | — | Yea |
| Ashlei Spivey | — | Yea |
| Barry DeKay | — | Yea |
| Beau Ballard | — | Yea |
| Ben Hansen | — | Yea |
| Bob Andersen | — | Yea |
| Bob Hallstrom | — | Yea |
| Brian Hardin | — | Yea |
| Carolyn Bosn | — | Yea |
| Christy Armendariz | — | Yea |
| Dan Lonowski | — | Nay |
| Dan Quick | — | Yea |
| Danielle Conrad | — | Yea |
| Dave Murman | — | Yea |
| Dave Wordekemper | — | Yea |
| Dunixi Guereca | — | Yea |
| Eliot Bostar | — | Yea |
| George Dungan | — | Yea |
| Jana Hughes | — | Yea |
| Jane Raybould | — | Yea |
| Jared Storm | — | Yea |
| Jason Prokop | — | Yea |
| John Arch | — | Yea |
| John Cavanaugh | — | Yea |
| John Fredrickson | — | Yea |
| Kathleen Kauth | — | Yea |
| Loren Lippincott | — | Yea |
| Machaela Cavanaugh | — | Yea |
| Margo Juarez | — | Yea |
| Megan Hunt | — | Yea |
| Merv Riepe | — | Yea |
| Mike Jacobson | — | Yea |
| Mike Moser | — | Yea |
| Myron Dorn | — | Yea |
| Paul Strommen | — | Yea |
| R. Brad von Gillern | — | Yea |
| Rick Holdcroft | — | Yea |
| Rita Sanders | — | Yea |
| Robert Clements | — | Yea |
| Robert Dover | — | Yea |
| Stan Clouse | — | Yea |
| Tanya Storer | — | Yea |
| Teresa Ibach | — | Yea |
| Terrell McKinney | — | Not Voting |
| Tom Brandt | — | Yea |
| Tony Sorrentino | — | Yea |
| Victor Rountree | — | Yea |
| Wendy DeBoer | — | Yea |
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 38 | 0 | 0 | 11 |
| Total | 38 | 0 | 0 | 11 |
| % of votes cast | 78% | 0% | 0% | 22% |
How each member voted (49)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 43 | 0 | 0 | 6 |
| Total | 43 | 0 | 0 | 6 |
| % of votes cast | 88% | 0% | 0% | 12% |
How each member voted (49)
| Party | Yea | Nay | Present | Not Voting |
|---|---|---|---|---|
| Unaffiliated | 40 | 0 | 0 | 9 |
| Total | 40 | 0 | 0 | 9 |
| % of votes cast | 82% | 0% | 0% | 18% |
How each member voted (49)
Subjects
Frequently asked questions
- Who sponsors LB 250?
- LB 250 is sponsored by Bob Hallstrom and Mike Jacobson.
- What is the current status of LB 250?
- This bill has been enacted into law. Introduced January 14, 2025. Enacted.
- Where can I track LB 250?
- Track LB 250 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 3 months ago · updated continuously
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