reglab/housing_qa huggingface dataset:
NE Code § 8-2720 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2720 - Permissible investments, defined.

8-2720.  Permissible investments, defined.Permissible investments means:(1) Cash;(2) Certificates of deposit or other debt obligations of a financial institution, either domestic or foreign;(3) Bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as bankers' acceptances, which are eligible for purchase by member banks of the federal reserve system;(4) Any investment bearing a rating of one of the three highest grades as defined by a nationally recognized organization that rates such securities;(5) Investment securities that are obligations of the United States or its agencies or instrumentalities, obligations that are guaranteed fully as to principal and interest by the United States, or any obligations of any state or political subdivision thereof;(6) Shares in a money market mutual fund, interest-bearing bills or notes or bonds, debentures or stock traded on any national securities exchange or on a national over-the-counter market, or mutual funds primarily composed of such securities or a fund composed of one of more permissible investments as set forth in this section;(7) Any demand borrowing agreement or agreements made to a corporation or a subsidiary of a corporation whose capital stock is listed on a national exchange;(8) Receivables that are due to a licensee from its authorized delegates pursuant to a contract described in section 8-2739 which are not past due or doubtful of collection; or(9) Any other investment or similar security approved by the director.Source Laws 2013, LB616, § 20.
NE Code § 8-2721 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2721 - Person, defined.

8-2721.  Person, defined.Person means any individual, partnership, limited liability company, association, joint-stock association, trust, or corporation. Person does not include the United States or the State of Nebraska.Source Laws 2013, LB616, § 21.
NE Code § 8-2722 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2722 - Remit, defined.

8-2722.  Remit, defined.Remit, except as used in section 8-2747, means either to make direct payment of the funds to a licensee or its representatives authorized to receive those funds or to deposit the funds in a bank, credit union, or savings and loan association or other similar financial institution in an account specified by a licensee.Source Laws 2013, LB616, § 22.
NE Code § 8-2723 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2723 - Stored value, defined.

8-2723.  Stored value, defined.Stored value means monetary value that is evidenced by an electronic record. Stored value does not include any item that is redeemable by the issuer or its affiliates in goods or services of the issuer or its affiliates.Source Laws 2013, LB616, § 23.
NE Code § 8-2725 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2725 - License required; license not transferable or assignable.

8-2725.  License required; license not transferable or assignable.(1) Except as otherwise provided in section 8-2724, a person shall not engage in money transmission without a license issued pursuant to the Nebraska Money Transmitters Act.(2) A person is engaged in money transmission if the person provides money transmission services to any resident of this state even if the person providing money transmission services has no physical presence in this state or if the resident is not physically located in this state at the time when the resident enters into money transmission or otherwise receives money transmission services.(3) If a licensee has a physical presence in this state, the licensee may conduct its business at one or more locations, directly or indirectly owned, or through one or more authorized delegates, or both, pursuant to the single license granted to the licensee.(4) A license issued pursuant to the act is not transferable or assignable.Source  Laws 2013, LB616, § 25;  Laws 2021, LB363, § 18.   Effective Date: March 18, 2021
NE Code § 8-2726 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2726 - License; applicant; qualifications; requirements.

8-2726.  License; applicant; qualifications; requirements.To qualify for a license under the Nebraska Money Transmitters Act, an applicant, at the time of filing for a license, and a licensee at all times after a license is issued, shall satisfy the following requirements:(1) Each applicant or licensee must have a net worth of not less than fifty thousand dollars, calculated in accordance with generally accepted accounting principles;(2) The financial condition and responsibility, financial and business experience, and character and general fitness of the applicant or licensee must reasonably warrant the belief that the applicant's or licensee's business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community. In determining whether this requirement is met and for purposes of investigating compliance with the act, the director may review and consider the relevant business records and capital adequacy of the applicant or licensee;(3) Each corporate applicant or licensee must be organized under the laws of any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, or the Northern Mariana Islands, and must be in good standing in the place of its incorporation;(4) Each applicant or licensee must be registered or qualified to do business in the State of Nebraska; and(5) Each applicant or licensee must maintain an office in the United States.Source  Laws 2013, LB616, § 26;  Laws 2021, LB363, § 19.   Effective Date: March 18, 2021
NE Code § 8-2728 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2728 - Licensee; investments required; waiver.

8-2728.  Licensee; investments required; waiver.(1) Each licensee shall at all times possess permissible investments having an aggregate market value, calculated in accordance with generally accepted accounting principles, of not less than the aggregate face amount of all outstanding payment instruments and stored value issued or sold by the licensee in the United States. This requirement may be waived by the director if the dollar volume of a licensee's outstanding payment instruments and stored value does not exceed the bond or other security posted by the licensee pursuant to section 8-2727.(2) Permissible investments, even if commingled with other assets of the licensee, are deemed by operation of law to be held in trust for the benefit of the purchasers and holders of the licensee's outstanding payment instruments in the event of the bankruptcy of the licensee.Source Laws 2013, LB616, § 28.
NE Code § 8-2731 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2731 - Supervisory information sharing; information and material; how treated; applicability; director; powers.

8-2731.  Supervisory information sharing; information and material; how treated; applicability; director; powers.(1) In order to promote more effective regulation and reduce the regulatory burden through supervisory information sharing:(a) Except as otherwise provided in this section, the requirements under any federal or state law regarding the privacy or confidentiality of any information or material provided to the Nationwide Mortgage Licensing System and Registry, and any privilege arising under federal or state law, including the rules of any federal or state court, with respect to such information or material, shall continue to apply to such information or material after the information or material has been disclosed to the Nationwide Mortgage Licensing System and Registry. Such information and material may be shared with all federal and state regulatory officials with money transmitter industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal or state law;(b) Information or material that is subject to privilege or confidentiality under subdivision (a) of this subsection shall not be subject to:(i) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state; or(ii) Subpoena or discovery or admission into evidence in any private civil action or administrative process unless, with respect to any privilege held by the Nationwide Mortgage Licensing System and Registry with respect to such information or material, the person to whom such information or material pertains waives, in whole or in part, in the discretion of such person, that privilege;(c) Any state statute relating to the disclosure of confidential supervisory information or any information or material described in subdivision (a) of this subsection that is inconsistent with such subdivision shall be superseded by the requirements of this section; and(d) This section shall not apply with respect to the information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, applicants and licensees that is included in the Nationwide Mortgage Licensing System and Registry for access by the public.(2) For these purposes, the director is authorized to enter into agreements or sharing arrangements with other governmental agencies, the Conference of State Bank Supervisors, the American Association of Residential Mortgage Regulators, the Money Transmitter Regulators Association, or other associations representing governmental agencies as established by adopting and promulgating rules and regulations or an order of the director.Source Laws 2013, LB616, § 31.
NE Code § 8-2732 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2732 - Application fee; processing fee.

8-2732.  Application fee; processing fee.Each applicant shall submit, with the application, an application fee of one thousand dollars, and any processing fee allowed under subsection (2) of section 8-2730 which shall not be subject to refund but which, if the license is granted, shall constitute the license fee for the first license year or part thereof.Source Laws 2013, LB616, § 32.
NE Code § 8-2733 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2733 - Application; director; duties; powers; onsite investigation; costs; denial of application; reasons; hearing.

8-2733.  Application; director; duties; powers; onsite investigation; costs; denial of application; reasons; hearing.(1) Upon the filing of a complete application under the Nebraska Money Transmitters Act, the director shall investigate the financial condition and responsibility, financial and business experience, character, and general fitness of the applicant. The director may conduct an onsite investigation of the applicant, the reasonable cost of which shall be borne by the applicant. If the director finds that the applicant's business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community and that the applicant has fulfilled the requirements imposed by the act and has paid the required application or license fee, the director shall issue a license to the applicant authorizing the applicant to engage in money transmission in this state. If these requirements have not been met, the director shall deny the application in writing, setting forth the reasons for the denial.(2) The director shall approve or deny every application for an original license within one hundred twenty days after the date a complete application is submitted, which period may be extended by the written consent of the applicant. The director shall notify the applicant of the date when the application is deemed complete.(3) Any applicant aggrieved by a denial issued by the director under the act may, at any time within fifteen business days after the date of the denial, request a hearing before the director. The hearing shall be held in accordance with the Administrative Procedure Act and rules and regulations of the department.(4) If an applicant for a license under the Nebraska Money Transmitters Act does not complete the license application and fails to respond to a notice or notices from the department to correct the deficiency or deficiencies for a period of one hundred twenty days or more after the date the department sends the initial notice to correct the deficiency or deficiencies, the department may deem the application as abandoned and may issue a notice of abandonment of the application to the applicant in lieu of proceedings to deny the application.Source  Laws 2013, LB616, § 33;  Laws 2017, LB185, § 1.  Cross References  Administrative Procedure Act, see section 84-920.
NE Code § 8-2734 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2734 - License; renewal application; licensing fee; processing fee; report; contents.

8-2734.  License; renewal application; licensing fee; processing fee; report; contents.(1) Initial licenses shall remain in full force and effect until the next succeeding December 31. Each licensee shall, annually on or before December 31 of each year, file a license renewal application and pay to the director a license fee of two hundred fifty dollars and any processing fee allowed under subsection (2) of section 8-2730, both of which shall not be subject to refund.(2) The renewal application and license fee shall be accompanied by a report, in a form prescribed by the director, which shall include:(a) A copy of the licensee's most recent audited consolidated annual financial statement including balance sheet, statement of income or loss, statement of changes in shareholders' equity, and statement of changes in financial position, or, if a licensee is a wholly owned subsidiary of another corporation, the consolidated audited annual financial statement of the parent corporation may be filed in lieu of the licensee's audited annual financial statement;(b) The number of payment instruments sold by the licensee in the state, the dollar amount of those instruments, and the dollar amount of payment instruments currently outstanding, for the most recent quarter for which data is available before the date of the filing of the renewal application, but in no event more than one hundred twenty days before the renewal date;(c) Any material changes to any of the information submitted by the licensee on its original application which have not previously been reported to the director on any other report required to be filed under the Nebraska Money Transmitters Act; and(d) A list of the licensee's permissible investments.Source  Laws 2013, LB616, § 34;  Laws 2016, LB778, § 2;  Laws 2021, LB363, § 21.   Effective Date: March 18, 2021
NE Code § 8-2735 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2735 - Licensee; notice to director; when; report; contents.

8-2735.  Licensee; notice to director; when; report; contents.(1) A licensee shall file notice with the director within thirty calendar days after any material change in information provided in a licensee's application as prescribed by the director.(2) A licensee shall file a report with the director within five business days after the licensee has reason to know of the occurrence of any of the following events:(a) The filing of a petition by or against the licensee under any bankruptcy law of the United States for liquidation or reorganization;(b) The filing of a petition by or against the licensee for receivership, the commencement of any other judicial or administrative proceeding for its dissolution or reorganization, or the making of a general assignment for the benefit of its creditors;(c) The filing of an action to revoke or suspend the licensee's license in a state or country in which the licensee engages in business or is licensed;(d) The cancellation or other impairment of the licensee's bond or other security;(e) A charge or conviction of the licensee or of an executive officer, manager, or director of, or controlling person of, the licensee, for a felony; or(f) A charge or conviction of an authorized delegate for a felony.Source Laws 2013, LB616, § 35.
NE Code § 8-2736 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2736 - Acquisition of control of licensee; notice to director; director; duties; powers; disapproval; grounds; notice; hearing.

8-2736.  Acquisition of control of licensee; notice to director; director; duties; powers; disapproval; grounds; notice; hearing.(1) No person acting personally or as an authorized delegate shall acquire control of any licensee under the Nebraska Money Transmitters Act without first giving thirty days' notice to the director on forms prescribed by the director of such proposed acquisition.(2) The director, upon receipt of such notice, shall act upon the proposed acquisition within thirty days, and unless he or she disapproves the proposed acquisition within that period of time, the acquisition shall become effective on the thirty-first day after receipt without the director's approval, except that the director may extend the thirty-day period an additional thirty days if, in his or her judgment, any material information submitted is substantially inaccurate or the acquiring person has not furnished all the information required by the director.(3) An acquisition may be made prior to the expiration of the disapproval period if the director issues written notice of his or her intent not to disapprove the action.(4)(a) The director may disapprove any proposed acquisition if:(i) The financial condition of any acquiring person is such as might jeopardize the financial stability of the acquired licensee;(ii) The business experience, character, and general fitness of any acquiring person or of any of the proposed management personnel of the acquiring person indicate that the acquired licensee would not be operated honestly, carefully, or efficiently; or(iii) Any acquiring person neglects, fails, or refuses to furnish all information required by the director.(b) The director may require that any acquiring person comply with the application requirements of section 8-2729.(c) The director shall notify the acquiring person in writing of disapproval of the acquisition. The notice shall provide a statement of the basis for the disapproval.(d) Within fifteen business days after receipt of written notice of disapproval, the acquiring person may request a hearing on the proposed acquisition. The hearing shall be in accordance with the Administrative Procedure Act and rules and regulations of the department. Following such hearing, the director shall, by order, approve or disapprove the proposed acquisition on the basis of the record made at the hearing.Source Laws 2013, LB616, § 36.Cross References  Administrative Procedure Act, see section 84-920.
NE Code § 8-2738 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2738 - Licensee; books, accounts, and records.

8-2738.  Licensee; books, accounts, and records.(1) Each licensee shall make, keep, and preserve the following books, accounts, and other records for a period of three years which shall be open to inspection by the director:(a) A record of each payment instrument and stored value sold;(b) A general ledger containing all assets, liability, capital, income, and expense accounts, which general ledger shall be posted at least monthly;(c) Settlement sheets received from authorized delegates;(d) Bank statements and bank reconciliation records;(e) Records of outstanding payment instruments and stored value;(f) Records of each payment instrument and stored value paid;(g) A list of the names and addresses of all of the licensee's authorized delegates; and(h) Any other records the director reasonably requires by rule or regulation or order.(2) Maintenance of such documents as are required by this section in a photographic, electronic, or other similar form constitutes compliance with this section.(3) Records may be maintained at a location other than within this state so long as the records are made accessible to the director on seven business days' written notice.Source Laws 2013, LB616, § 38.
NE Code § 8-2739 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2739 - Licensee; authorized delegate; contract; contents.

8-2739.  Licensee; authorized delegate; contract; contents.A licensee desiring to conduct money transmission through an authorized delegate shall authorize each authorized delegate to operate pursuant to an express written contract which, for contracts entered into on or after January 1, 2014, shall provide the following:(1) That the licensee appoints the person as its authorized delegate with authority to engage in the sale and issue of payment instruments or engage in the business of money transmission on behalf of the licensee;(2) That neither a licensee nor an authorized delegate may authorize subdelegates without the written consent of the director; and(3) That the licensee is subject to supervision and regulation by the director.Source Laws 2013, LB616, § 39.
NE Code § 8-2740 (2021)
2021 Nebraska Revised Statutes|Chapter 8 - Banks and Banking|8-2740 - Authorized delegate; duties.

8-2740.  Authorized delegate; duties.(1) An authorized delegate shall not make any fraudulent or false statement or misrepresentation to a licensee or to the director.(2) An authorized delegate shall conduct all money transmission strictly in accordance with the licensee's written procedures provided to the authorized delegate.(3) An authorized delegate shall remit all money owing to the licensee in accordance with the terms of the contract between the licensee and the authorized delegate.(4) An authorized delegate is deemed to consent to the director's inspection with or without prior notice to the licensee or authorized delegate.(5) An authorized delegate is under a duty to act only as authorized under the contract with the licensee and the Nebraska Money Transmitters Act. An authorized delegate who exceeds its authority is subject to cancellation of its contract and further disciplinary action by the director.(6) All funds, less fees, received by an authorized delegate of a licensee from the sale or delivery of a payment instrument issued by a licensee or received by an authorized delegate for transmission shall, from the time such funds are received by such authorized delegate until such time when the funds or an equivalent amount are remitted by the authorized delegate to the licensee, constitute trust funds owned by and belonging to the licensee. If an authorized delegate commingles any such funds with any other funds or property owned or controlled by the authorized delegate, all commingled proceeds and other property is impressed with a trust in favor of the licensee in an amount equal to the amount of the proceeds due the licensee.Source Laws 2013, LB616, § 40.