Neb. Rev. Stat. § 45-336 — NE Code / Chapter 45 / Section 45-336
View Statute 45-336
Status: in_force

(1) An installment loan license shall be required for:

(a) Any person engaging in the business of making loans;

(b) Any person that holds or acquires any rights of ownership, servicing, or other forms of participation in a loan or that engages with, or conducts loan activity with, an installment loan borrower in connection with a loan; or

(c) Any person that is not a financial institution who, at or after the time a loan is made by a financial institution, markets, owns in whole or in part, holds, acquires, services, or otherwise participates in a loan.

(2) Any person may, after procuring an installment loan license from the department, engage or continue in the business of making loans of money and charge, contract for, and receive the maximum for interest and other charges in accordance with the authorization and requirements of the Nebraska Installment Loan and Sales Act.

(3) An installment loan license shall not be required for:

(a)(i) A financial institution.

(ii) While no financial institution is eligible for an installment loan license or to make loans under the Nebraska Installment Loan and Sales Act, an installment loan license shall be required for any person that is not a financial institution who, at or after the time a loan is made by a financial institution, markets, owns in whole or in part, holds, acquires, services, or otherwise participates in such loan;

(b)(i) An affiliate of an installment loan licensee if the activities of the affiliate in this state are limited solely to the securitization of loans made by the licensee and the servicing rights to the loans are retained by the licensee or assigned or otherwise transferred to a financial institution, licensee, or permittee.

(ii) For purposes of subdivision (b) of this subsection:

(A) Affiliate means an entity that controls, is controlled by, or is under common control with another entity;

(B) Control means to own directly or indirectly or to control in any manner twenty-five percent of the voting shares of an entity or to control in any manner the election of the majority of directors of any entity; and

(C) Securitization means the placing of individual installment loans made by licensees into a commingled or pooled security that is subsequently sold or otherwise transferred to another entity.

(iii) Nothing in this subsection shall be construed to exempt a licensee or affiliate from the Securities Act of Nebraska; and

(c) Any person, who is not an installment loan licensee, that only makes loans that do not exceed the maximum rate of interest permitted by section 45-101.03 .

(4) An installment sales license shall be required for any person who acts as a sales finance company in this state, whether or not such person maintains an office, place of doing business, or agent in this state.

(5) An installment sales license shall not be required for:

(a) A financial institution or an installment loan licensee;

(b) A seller who does not otherwise act as a sales finance company, but such seller shall comply with all of the other provisions of the Nebraska Installment Loan and Sales Act in order to charge the time-price differential allowed by section 45-365 ; or

(c) Persons that negotiate and enter into installment sales contracts by United States mail without personal solicitation by salespersons or other representatives of the seller and based upon the catalog of the seller or other printed solicitation of business, which is distributed and made available generally to the public, if such catalog or other printed solicitation clearly sets forth the cash and time-sale prices and other terms of sales to be made through such medium. All provisions of the Nebraska Installment Loan and Sales Act shall apply to such sales, except that the seller shall not be required to deliver a copy of the contract to the buyer pursuant to section 45-364 and if the contract when received by the seller contains any blank spaces, the seller may insert in the appropriate blank space the amounts of money and other terms which are set forth in the seller's catalog or other printed solicitation which is then in effect. In lieu of sending the buyer a copy of the contract pursuant to section 45-364 , the seller shall furnish to the buyer a written statement of any items inserted in the blank spaces in the contract received from the buyer.

(6) Loans made by financial institutions that are serviced by or purchased by a licensee shall not be subject to the interest rate limitations of the Nebraska Installment Loan and Sales Act.

Laws 1965, c. 268, § 3, p. 758;

Laws 1994, LB 979, § 12;

Laws 1994, LB 980, § 3;

Laws 1999, LB 396, § 28;

Laws 2006, LB 876, § 26;

Laws 2010, LB571, § 9;

Laws 2011, LB77, § 2;

Laws 2025, LB474, § 57.

Securities Act of Nebraska, see section 8-1123 .