Source: http://www.creditdetailer.com/center/state-laws/ne-nebraska
Timestamp: 2019-04-21 08:46:32+00:00

Document:
§ 45-801. Act, how cited.
Sections 45-801 to 45-815 shall be known and may be cited as the Credit Services Organization Act.
(5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business entity.
(k) A person licensed to engage in the business of debt management pursuant to sections 69-1201 to 69-1217.
(2) The burden of proving an exemption under this section shall be on the person claiming the exemption.
(7) Advertise or cause to be advertised, in any manner whatsoever, the services of a credit services organization without filing a registration statement with the Secretary of State under section 45-806 unless otherwise provided by the Credit Services Organization Act.
§ 45-805. Surety bond or surety account; requirements; action on surety; depository; Secretary of State; powers and duties.
(1) A credit services organization conducting business in this state shall obtain a surety bond or establish a surety account which complies with this section. The bond or account shall be in the amount of one hundred thousand dollars.
(2) If a surety bond is obtained, the bond shall be issued by a surety company authorized to do business in this state and a copy of the bond shall be filed with the Secretary of State. If a surety account is established, the account shall be established and maintained at a federally insured bank or savings and loan association located in this state and notification of the depository, the trustee, and the account number shall be filed with the Secretary of State.
(3) The bond or account shall be in favor of the state for the benefit of any person who is damaged by any violation of the Credit Services Organization Act. The bond or account shall also be in favor of any person damaged by such a violation.
(4) Any person claiming against the bond or account for a violation of the act may maintain an action at law against the credit services organization and against the surety or trustee. The surety or trustee shall be liable only for damages awarded under section 45-810. The aggregate liability of the surety or trustee to all persons damaged by a credit services organization's violation of the act shall not exceed the amount of the bond or account.
(5) A depository holding money in a surety account under the act shall not convey money in the account to the credit services organization that established the account or a representative of the credit services organization unless the credit services organization or representative presents a statement issued by the Secretary of State indicating that subsection (6) of this section has been satisfied in relation to the account. The Secretary of State may conduct investigations and require submission of information as necessary to enforce this subsection.
(6) The bond or account shall be maintained until two years after the date that the credit services organization ceases operation in this state.
§ 45-806. Registration statement; contents; requirements; fee.
(b) The name and address of any person who directly or indirectly owns or controls ten percent or more of the outstanding shares of stock in the credit services organization.
(b) A notarized statement that there has been no litigation or unresolved complaint filed with a governmental authority of this state relating to the operation of the credit services organization.
(3) The credit services organization shall update the registration statement within ninety days after the date on which a change in the information required in the statement occurs.
(4) Each credit services organization registering under this section shall maintain a copy of the registration statement in the files of the credit services organization. The credit services organization shall allow a buyer to inspect the registration statement on request.
(5) The Secretary of State may charge each credit services organization that files a registration statement with the Secretary of State a reasonable fee not to exceed one hundred dollars to cover the cost of filing. The Secretary of State shall not require a credit services organization to provide information other than that provided in the registration statement.
§ 45-807. Written statement to buyer; contents; credit services organization; duties.
(i) A complete and accurate statement of the availability of nonprofit credit counseling services.
(2) The credit services organization shall maintain on file, for a period of two years after the date the statement is provided, an exact copy of the statement, signed by the buyer, acknowledging receipt of the statement.
§ 45-808. Contract; requirements; cancellation; procedure; notice; breach; effect.
(d) The address of the credit services organization's principal place of business and the name and address of its agent in the state authorized to receive service of process.
(2) The credit services organization shall return any payment made by a buyer under the contract if the buyer cancels the contract within three days after it is signed. The payment shall be returned within ten days after the date the organization receives the cancellation notice from the buyer.
To cancel this contract, mail or deliver a signed, dated copy of this cancellation notice or other written notice to: (name of seller) at (address of seller) (place of business) not later than midnight (date) I hereby cancel this transaction.
(4) The credit services organization shall give to the buyer a copy of the completed contract and all other documents the credit services organization requires the buyer to sign at the time they are signed.
(5) The breach by a credit services organization of a contract under the Credit Services Organization Act or of any obligation arising from a contract under the act shall be a violation of the act.
§ 45-809. Waiver of rights; void.
A credit services organization shall not attempt to cause a buyer to waive a right under the Credit Services Organization Act. A purported waiver by a buyer of any part of the act shall be void.
A buyer injured by a violation of the Credit Services Organization Act may bring an action for recovery of damages. The damages awarded shall not be less than the amount paid by the buyer to the credit services organization plus reasonable attorney's fees and court costs.
The Attorney General or a buyer may bring an action in district court to enjoin a violation of the Credit Services Organization Act.
§ 45-812. Violation; deceptive trade practice.
A violation of the Credit Services Organization Act shall be a deceptive trade practice under the Uniform Deceptive Trade Practices Act.
§ 45-813. Statute of limitations.
An action may not be brought under section 45-810 or 45-812 after four years after the date of the execution of the contract for services to which the action relates.
A person who violates the Credit Services Organization Act shall be guilty of a Class II misdemeanor.
The remedies provided by the Credit Services Organization Act shall be in addition to other remedies provided by law.

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