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000547 <br />That the application should be approved, subject to the <br />applicant's obtaining insurance of the accounts of the First <br />j- Investment Company, with the Federal Deposit Insurance <br />Corporation, and subject to the approval of the Office of the <br />Comptroller of the Currency. <br />CONCLUSIONS OF LAW <br />Neb. Rev. Stat. Section 8 -1506 (Supp. 1983) gives the <br />Nebraska Department of Banking and Finance authority to take <br />possession of an industrial loan and investment company if the <br />interest of its savers is endangered and act upon any <br />applications from another institution to purchase substantially <br />all the assets and liabilities of the association without <br />benefit of a hearing. L.B. 1026 of the Eighty - Eighth <br />Legislature, Second Session, allows the acquiring institution <br />to operate the office of the industrial loan and investment <br />company as a branch upon approval of the Department. <br />IT IS THEREFORE, CONSIDERED, ORDERED, AND ADJUDGED that <br />the application of the Omaha National Bank, Omaha, Douglas <br />County, Nebraska, for permission pursuant to Neb. Rev. Stat. <br />Section 8 -1506 (Supp. 1983) and L.B. 1026 of the Eighty- Eighth <br />Legislature, Second Session, to acquire from the Department <br />substantially all the assets and liabilities of the Commercial <br />Savings Company, Grand Island, Hall County, Nebraska, and to <br />operate a branch in Grand Island, Hall County, Nebraska, be, <br />and the same is hereby approved; 21ovided, however, that the <br />applicant obtain and maintain insurance of the acccunts of the <br />Commercial Savings Company with the Federal Deposit Insurance <br />Corporation, and provided further that this transaction is <br />approved by the Office of the Comptroller of the Currency. <br />rR <br />DATED THIS .30 day of July, 1984. <br />SrATE OF NEBRASKA <br />DEPARTMENT Of" BANKING AND FINANCE <br />r3 Y <br />M <br />