reglab/housing_qa huggingface dataset:
NE Code § 45-1058 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1058 - Violation; loan transaction; licensee; liability.

45-1058.  Violation; loan transaction; licensee; liability.Any violation of sections 45-1043 to 45-1058 in connection with any loan transaction, however acquired, shall not render the indebtedness, any interest, or other charges void or uncollectible. In an action, other than a class action, the borrower may recover from the licensee violating such sections an award of liquidated damages in an amount determined by the court, but not less than five hundred dollars nor more than one thousand dollars. In any legal action brought pursuant to this section in which the licensee is found liable, the court shall award costs and reasonable attorneys' fees to the borrower. A licensee is not liable under this section if the licensee notifies the borrower of an error before the licensee receives from the borrower written notice of the error or before the borrower has brought an action under this section and the licensee corrects the error within thirty days after notifying the borrower. A licensee may not be held liable in any action brought under this section if the licensee shows by a preponderance of evidence that the violation was not intentional and resulted from a bona fide error notwithstanding the maintenance of procedures reasonably adapted to avoid the error.Source   Laws 1979, LB 87, § 21;   R.S.1943, (1998), § 45-188;  Laws 2001, LB 53, § 86.
NE Code § 45-1059 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1059 - Preauthorized loans; definitions; where found.

45-1059.  Preauthorized loans; definitions; where found.For purposes of sections 45-1059 to 45-1067, unless the context otherwise requires, the definitions found in sections 45-1060 and 45-1061 shall also be used.Source   Laws 1981, LB 271, § 1;   R.S.1943, (1998), § 45-194;  Laws 2001, LB 53, § 91.
NE Code § 45-1060 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1060 - Billing cycle, defined.

45-1060.  Billing cycle, defined.Billing cycle means the time interval between periodic billing dates. A billing cycle shall be considered monthly if the closing date of the cycle is the same date each month or does not vary by more than four days from such date.Source   Laws 1981, LB 271, § 2;   R.S.1943, (1998), § 45-195;  Laws 2001, LB 53, § 92.
NE Code § 45-1061 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1061 - Preauthorized loan, defined.

45-1061.  Preauthorized loan, defined.Preauthorized loan means a loan made by a licensee pursuant to an agreement between the licensee and the borrower whereby:(1) The licensee may permit the borrower to obtain advances of money from the licensee from time to time or the licensee may advance money on behalf of the borrower from time to time as directed by the borrower;(2) The amount of each advance and permitted charge and cost is debited to the borrower's account and payments and other credits are credited to the same account;(3) The charges are computed on the unpaid principal balance or balances of the account from time to time;(4) The borrower has the privilege of paying the account in full at any time or, if the account is not in default, in monthly installments or fixed or determinable amounts as provided in the agreement; and(5) The loan agreement expressly states that it covers preauthorized loans. Preauthorized loan does not mean a transaction, resulting in either a credit or a debit to the borrower's account, which is initiated by the use or application of a plastic, metal, or other type of credit or transaction card.Source   Laws 1981, LB 271, § 3;   R.S.1943, (1998), § 45-196;  Laws 2001, LB 53, § 93.
NE Code § 45-1062 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1062 - Preauthorized loans; charges authorized; computation.

45-1062.  Preauthorized loans; charges authorized; computation.A licensee may make preauthorized loans and may contract for and receive charges on such loans as set forth in subsection (1) of section 45-1024 as follows:(1) A licensee shall not compound charges by adding any unpaid charges authorized by section 45-1024 or sections 45-1059 to 45-1067 to the unpaid principal balance of the borrower's account, except that the unpaid principal balance may include the additional charges authorized by section 45-1064;(2) Charges authorized by section 45-1024 or sections 45-1059 to 45-1067 shall be deemed not to exceed the maximum charges permitted by such sections if such charges are computed in each billing cycle by any of the following methods:(a) By converting each graduated monthly rate to a daily rate and multiplying such daily rate by the applicable portion of the daily unpaid principal balance of the account, in which case each daily rate is determined by multiplying the authorized monthly rate by twelve and dividing by three hundred sixty-five;(b) By multiplying each graduated monthly rate by the applicable portion of the average daily unpaid principal balance of the account in the billing cycle, in which case the average daily unpaid principal balance is the sum of the amount unpaid each day during the cycle divided by the number of days in the cycle; or(c) By converting each graduated monthly rate to a daily rate and multiplying such daily rate by the applicable portion of the average daily unpaid principal balance of the account in the billing cycle, in which case each daily rate is determined by multiplying the authorized monthly rate by twelve and dividing by three hundred sixty-five, and the average daily unpaid principal balance is the sum of the amount unpaid each day during the cycle divided by the number of days in the cycle; and(3) For each method of computation set forth in subdivision (2) of this section, the billing cycle shall be monthly and the unpaid principal balance on any day shall be determined by adding to any balance unpaid as of the beginning of that day all advances and other permissible amounts charged to the borrower and deducting all payments and other credits made or received that day.Source   Laws 1981, LB 271, § 5;   R.S.1943, (1998), § 45-198;  Laws 2001, LB 53, § 94.
NE Code § 45-1063 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1063 - Preauthorized loan; repayment; requirements.

45-1063.  Preauthorized loan; repayment; requirements.The borrower under a preauthorized loan may at any time pay all or any part of the unpaid balance in his or her account, or, if the account is not in default, the borrower may pay the unpaid principal balance in monthly installments. Minimum monthly payment requirements shall be determined by the licensee and set forth in the preauthorized loan agreement, except that the minimum monthly payment shall not be less than one and one-half percent of the average daily unpaid principal balance of an account having an average daily balance of more than three thousand dollars nor less than two percent of the average daily unpaid principal balance of an account having an average daily balance of three thousand dollars or less.Source   Laws 1981, LB 271, § 6;   R.S.1943, (1998), § 45-199;  Laws 2001, LB 53, § 95.
NE Code § 45-1064 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1064 - Preauthorized loans; additional fees, costs, and expenses authorized; restrictions.

45-1064.  Preauthorized loans; additional fees, costs, and expenses authorized; restrictions.In addition to the charges permitted under section 45-1062, a licensee may contract for and receive the fees, costs, and expenses permitted by the Nebraska Installment Loan Act on other loans, subject to all the conditions and restrictions set forth in the act with the following variations:(1) If credit life or disability insurance is provided and if the insured dies or becomes disabled when there is an outstanding preauthorized loan indebtedness, the insurance shall be sufficient to pay the total balance of the loan due on the date of the borrower's death or the amount due as of the end of the previous billing cycle, whichever is less, in the case of credit life insurance, or all minimum payments which become due on the loan during the covered period of disability in the case of credit disability insurance. The additional charge for credit life insurance or credit disability insurance shall be calculated in each billing cycle by applying the current monthly premium rate for such insurance, as such rate may be determined by the Director of Insurance, to the unpaid balances in the borrower's account, using either of the methods specified in section 45-1062 for the calculation of loan charges;(2) No credit life or disability insurance written in connection with a preauthorized loan shall be canceled by the licensee because of delinquency of the borrower in the making of the required minimum payments on the loan unless one or more of such payments is past due for a period of ninety days or more, and the licensee shall advance to the insurer the amounts required to keep the insurance in force during such period, which amounts may be debited to the borrower's account;(3) The department may, by rule and regulation, require a statement of insurance that will be appropriate for preauthorized loans in lieu of that required by section 45-1027; and(4) The amount, terms, and conditions of any insurance against loss or damage to property must be reasonable in relation to the character and value of the property insured and the maximum anticipated amount of credit to be extended.Source   Laws 1981, LB 271, § 7;   R.S.1943, (1998), § 45-1,100;  Laws 2001, LB 53, § 96.
NE Code § 45-1065 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1065 - Preauthorized loans; security interest authorized.

45-1065.  Preauthorized loans; security interest authorized.A licensee may retain any security interest, including a mortgage on real property, until the preauthorized account is terminated.Source   Laws 1981, LB 271, § 8;   R.S.1943, (1998), § 45-1,101;  Laws 2001, LB 53, § 97;  Laws 2004, LB 999, § 42.
NE Code § 45-1066 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1066 - Preauthorized loans; sections not applicable.

45-1066.  Preauthorized loans; sections not applicable.Subsection (3) of section 45-1025 and sections 45-1031 and 45-1040 shall not apply to preauthorized loans.Source   Laws 1981, LB 271, § 9;   R.S.1943, (1998), § 45-1,102;  Laws 2001, LB 53, § 98;  Laws 2003, LB 218, § 17.
NE Code § 45-1067 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1067 - Preauthorized loans; department; powers.

45-1067.  Preauthorized loans; department; powers.The department may approve record-keeping systems for licensees and may prescribe policies and procedures necessary to the administration of sections 45-1059 to 45-1067.Source   Laws 1981, LB 271, § 10;   R.S.1943, (1998), § 45-1,103;  Laws 2001, LB 53, § 99.
NE Code § 45-1069 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1069 - Administrative fine; procedure; lien.

45-1069.  Administrative fine; procedure; lien.(1) The director may, following a hearing under the Administrative Procedure Act, impose an administrative fine against any officer, director, shareholder, partner, or member of a licensee, if the director finds the licensee or any such person participated in or had knowledge of any act prohibited by the Nebraska Installment Loan Act or otherwise violated the act. Such administrative fine shall be in addition to or separate from any fine imposed against a licensee pursuant to section 45-1033.(2) If the director finds, after notice and hearing in accordance with the Administrative Procedure Act, that any person has knowingly committed any act prohibited by section 45-1033 or otherwise violated the Nebraska Installment Loan Act or any rule and regulation or order adopted thereunder, the director may order such person to pay (a) an administrative fine of not more than one thousand dollars for each separate violation and (b) the costs of investigation.(3) If a person fails to pay an administrative fine and the costs of investigation ordered pursuant to this section, a lien in the amount of such fine and costs may be imposed upon all assets and property of such person in this state and may be recovered in a civil action by the director. The lien shall attach to the real property of such person when notice of the lien is filed and indexed against the real property in the office of the register of deeds in the county where the real property is located. The lien shall attach to any other property of such person when notice of the lien is filed against the property in the manner prescribed by law. Failure of the person to pay such fine and costs shall constitute a separate violation of the act.Source Laws 2005, LB 533, § 64. Cross References  Administrative Procedure Act, see section 84-920.
NE Code § 45-1070 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1070 - Minimum term.

45-1070.  Minimum term.Notwithstanding any other provision of law, the minimum term of a loan contract for any loan governed by the Nebraska Installment Loan Act shall be six months from the loan transaction date.Source Laws 2018, LB194, § 21.
NE Code § 45-1101 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1101 - Act, how cited.

45-1101.  Act, how cited.Sections 45-1101 to 45-1107 shall be known and may be cited as the Guaranteed Asset Protection Waiver Act.Source Laws 2010, LB571, § 1.
NE Code § 45-1102 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1102 - Purpose of act; exclusions from act; exemption from insurance requirements.

45-1102.  Purpose of act; exclusions from act; exemption from insurance requirements.(1) The purpose of the Guaranteed Asset Protection Waiver Act is to provide a framework within which guaranteed asset protection waivers are offered, sold, and provided in this state.(2) The act does not apply to:(a) An insurance policy offered by an insurer under the insurance laws of this state;(b) A debt cancellation or debt suspension contract being offered in compliance with 12 C.F.R. part 37 or 12 C.F.R. part 721 or other federal law as such part or law existed on July 15, 2010; or(c) Guaranteed asset protection waivers offered, sold, or provided to borrowers by a financial institution.(3) Guaranteed asset protection waivers governed under the Guaranteed Asset Protection Waiver Act are not insurance and are exempt from the insurance laws of this state. Persons marketing, selling, or offering to sell guaranteed asset protection waivers to borrowers that comply with the act are exempt from this state's insurance licensing requirements.Source Laws 2010, LB571, § 2.
NE Code § 45-1103 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1103 - Terms, defined.

45-1103.  Terms, defined.For purposes of the Guaranteed Asset Protection Waiver Act:(1) Borrower means a debtor, retail buyer, or lessee under a finance agreement;(2) Creditor means:(a) The lender in a loan or credit transaction involving a motor vehicle;(b) The lessor in a lease transaction involving a motor vehicle;(c) Any retail seller of motor vehicles that provides credit to retail buyers of such motor vehicles if such entities comply with the provisions of the act; or(d) The assignees of any of the foregoing to whom the credit obligation is payable;(3) Creditor's designee means a person other than the creditor that performs administrative or operational functions pursuant to a guaranteed asset protection waiver program;(4) Finance agreement means a loan, credit transaction, lease, or retail installment sales contract for the purchase or lease of a motor vehicle;(5) Financial institution has the same meaning as in section 8-101.03;(6) Free-look period means the period of time from the effective date of the guaranteed asset protection waiver until the date the borrower may cancel the contract without penalty, fees, or costs to the borrower. This period of time must not be shorter than thirty days;(7) Guaranteed asset protection waiver means a contractual agreement wherein a creditor or the creditor's designee agrees, for a separate charge, to cancel or waive all or part of amounts due on a borrower's finance agreement in the event of a total physical damage loss as determined by the insurer issuing the motor vehicle insurance policy subject to the terms of the waiver or unrecovered theft as determined by the insurer issuing the motor vehicle insurance policy subject to the terms of the waiver of the motor vehicle, which agreement must be part of, or a separate addendum to, the finance agreement. If a borrower does not have motor vehicle insurance, the creditor or the creditor's designee will accept a report prepared pursuant to insurance industry standards by a qualified inspector declaring the motor vehicle a total loss or a law enforcement report declaring the motor vehicle an unrecovered theft. Nothing in the act shall be construed to require the waiver to pay more than the amount that would have been paid if the borrower had motor vehicle insurance at the time of loss;(8) Motor vehicle means self-propelled or towed vehicles designed for personal or commercial use, including, but not limited to, automobiles, trucks, motorcycles, recreational vehicles, all-terrain vehicles, snowmobiles, campers, boats, personal watercraft, and motorcycle, boat, camper, and personal watercraft trailers; and(9) Person includes an individual, company, association, organization, partnership, business trust, corporation, and every form of legal entity.Source  Laws 2010, LB571, § 3;  Laws 2017, LB140, § 157.
NE Code § 45-1104 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1104 - Guaranteed asset protection waivers; not insurance; exempt from insurance laws; sale options; separate statement of cost; part of finance agreement; sale and marketing restrictions.

45-1104.  Guaranteed asset protection waivers; not insurance; exempt from insurance laws; sale options; separate statement of cost; part of finance agreement; sale and marketing restrictions.(1) Guaranteed asset protection waivers offered, sold, or provided to borrowers under the terms of the Guaranteed Asset Protection Waiver Act are not insurance and are exempt from the insurance laws of this state. Persons marketing, selling, or offering to sell guaranteed asset protection waivers to borrowers that comply with the act are exempt from this state's insurance licensing requirements.(2) Guaranteed asset protection waivers may, at the option of the creditor, be sold for a single payment or may be offered with a monthly or periodic payment option.(3) Notwithstanding any other provision of law, any cost to the borrower for a guaranteed asset protection waiver entered into in compliance with the federal Truth in Lending Act, 15 U.S.C. 1601 et seq., and its implementing regulations, as such act and regulations existed on July 15, 2010, shall be separately stated and is not to be considered a finance charge or interest.(4) The guaranteed asset protection waiver remains a part of the finance agreement upon the assignment, sale, or transfer of such finance agreement by the creditor.(5) Neither the extension of credit, the terms of the credit, nor the terms of the related motor vehicle sale or lease may be conditioned upon the purchase of a guaranteed asset protection waiver.(6) Persons marketing, selling, or offering to sell guaranteed asset protection waivers to a borrower shall not market such guaranteed asset protection waivers to any borrower or potential borrowers as being insured under a contractual liability or other insurance policy issued by an insurer.Source Laws 2010, LB571, § 4.
NE Code § 45-1105 (2021)
2021 Nebraska Revised Statutes|Chapter 45 - Interest, Loans, and Debt|45-1105 - Guaranteed asset protection waiver; disclosures required.

45-1105.  Guaranteed asset protection waiver; disclosures required.Guaranteed asset protection waivers shall disclose, as applicable, in writing and in clear, understandable language that is easy to read, the following:(1) The name and address of the initial creditor or the creditor's designee and the borrower at the time of sale;(2) The purchase price and the terms of the guaranteed asset protection waiver, including the requirements for protection, conditions, or exclusions associated with the guaranteed asset protection waiver;(3) That the borrower may cancel the guaranteed asset protection waiver within the free-look period as specified in the waiver, and will be entitled to a full refund of the purchase price, so long as no benefits have been provided. In the event benefits have been provided during the free-look period, the borrower may receive a full refund less any benefits provided under the waiver;(4) The procedure the borrower shall follow, if any, to obtain guaranteed asset protection waiver benefits under the terms and conditions of the waiver, including a telephone number and address where the borrower may apply for waiver benefits;(5) Whether or not the guaranteed asset protection waiver is cancelable after the free-look period and the conditions under which it may be canceled or terminated including the procedures for requesting any refund due;(6) That in order to receive any refund due in the event of a borrower's cancellation of the guaranteed asset protection waiver agreement or early termination of the finance agreement after the free-look period of the guaranteed asset protection waiver, the borrower, in accordance with terms of the waiver, shall provide a written request to cancel to the creditor or the creditor's designee within ninety days after the occurrence of the event terminating the finance agreement;(7) The methodology for calculating any refund of the unearned purchase price of the guaranteed asset protection waiver due, in the event of cancellation of the guaranteed asset protection waiver or early termination of the finance agreement;(8) That neither the extension of credit, the terms of the credit, nor the terms of the related motor vehicle sale or lease shall be conditioned upon the purchase of the guaranteed asset protection waiver;(9) That a guaranteed asset protection waiver is not insurance and is not regulated by the Department of Insurance and that the guaranteed asset protection waiver remains a part of the finance agreement upon the assignment, sale, or transfer of such finance agreement by the creditor or the creditor's designee; and(10) The events or losses to which the guaranteed asset protection waiver does not apply.Source Laws 2010, LB571, § 5.