What’s it like having a premie?

I’m getting induced at 34 weeks and was curious to know what they do when you have a premie. At 34 weeks would they let you hold your baby right after giving birth? Will they place the baby on your chest? If yes for how long? Do they take baby out the room right after they let you hold the baby or do they set up somethings in the room with you there then take baby to NICU? When do you see your baby after they take baby to NICU? What are the rules? What do they do?