reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-732 - License; term; renewal; minimum standards for renewal; fee; denial; appeal.

45-732.
License; term; renewal; minimum standards for renewal; fee; denial; appeal.
(1) All initial mortgage loan originator licenses shall remain in full force and effect until the next succeeding December 31. Mortgage loan originator licenses may be renewed annually by submitting to the director a request for renewal and any supplemental material as required by the director. The mortgage loan originator licensee shall certify that the information contained in the license application, as subsequently amended, that is on file with the department, and the information contained in any supplemental material previously provided to the department, remains true and correct.
(2) The minimum standards for license renewal for mortgage loan originators shall include the following:
(a) The mortgage loan originator continues to meet the minimum standards for license issuance under subdivisions (1)(a) through (f) of section 45-729;
(b) The mortgage loan originator has satisfied the annual continuing education requirements described in section 45-733; and
(c) The mortgage loan originator has paid all required fees for renewal of the license.
(3) For the annual renewal of a mortgage loan originator license, the fee shall be one hundred twenty-five dollars, plus the cost of the criminal history background check required by the director and any processing fee allowed under subsection (2) of section 45-748.
(4) Except as provided in subsection (4) of section 45-734 and subsection (4) of section 45-742, should the director conclude that a mortgage loan originator does not meet the minimum standards for license renewal, the director shall deny the renewal application. A decision of the director denying a renewal of a mortgage loan originator license pursuant to the Residential Mortgage Licensing Act may be appealed. The appeal shall be in accordance with the Administrative Procedure Act and the rules and regulations adopted and promulgated by the department under the act.
Source
Laws 2009, LB328, § 17.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-735 - Mortgage loan originator; employee or independent agent; restriction on activities and remote work arrangements; written agency contract; notification to department; fee; notice of termination.

45-735.
Mortgage loan originator; employee or independent agent; restriction on activities and remote work arrangements; written agency contract; notification to department; fee; notice of termination.
(1) A mortgage loan originator shall be an employee or independent agent of a single licensed mortgage banker, registrant, or installment loan company that shall directly supervise, control, and maintain responsibility for the acts and omissions of the mortgage loan originator.
(2)(a) A mortgage loan originator shall not engage in mortgage loan origination activities at any location that is not a main office location of a licensed mortgage banker, registrant, or installment loan company or a branch office of a licensed mortgage banker or registrant. The licensed mortgage banker, registrant, or installment loan company shall designate the location or locations at which each mortgage loan originator is originating residential mortgage loans.
(b) The department may adopt and promulgate rules, regulations, and orders to authorize and regulate the use of remote work arrangements conducted outside of a main office location or branch office by employees or agents, including mortgage loan originators, of licensed mortgage bankers, registrants, or installment loan companies.
(3) Any licensed mortgage banker, registrant, or installment loan company who engages an independent agent as a mortgage loan originator shall maintain a written agency contract with such mortgage loan originator. Such written agency contract shall provide that the mortgage loan originator is originating loans exclusively for the licensed mortgage banker, registrant, or installment loan company.
(4) A licensed mortgage banker, registrant, or installment loan company that has hired a licensed mortgage loan originator as an employee or entered into an independent agent agreement with such licensed mortgage loan originator shall provide notification to the department as soon as reasonably possible after entering into such relationship, along with a fee of fifty dollars. The employing entity shall not allow the mortgage loan originator to conduct such activity in this state prior to such notification to the department and confirmation that the department has received notice of the termination of the mortgage loan originator's prior employment.
(5) A licensed mortgage banker, registrant, or installment loan company shall notify the department no later than ten days after the termination, whether voluntary or involuntary, of a mortgage loan originator unless the mortgage loan originator has previously notified the department of the termination.
Source
Laws 2009, LB328, § 20;
Laws 2023, LB92, § 69.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-736 - Unique identifier; use.

45-736.
Unique identifier; use.
The unique identifier of any licensee shall be clearly shown on all residential mortgage loan application forms, solicitations, or advertisements, including business cards or websites, and any other documents as established by rule, regulation, or order of the director.
Source
Laws 2009, LB328, § 21;
Laws 2012, LB965, § 18;
Laws 2022, LB707, § 34.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-737.01 - Mortgage loan originator; licensee; duties.

45-737.01.
Mortgage loan originator; licensee; duties.
(1) A licensee licensed as a mortgage loan originator shall notify the director in writing or through the Nationwide Mortgage Licensing System and Registry within three business days after the occurrence of any of the following:
(a) The filing of a voluntary petition in bankruptcy by such licensee or notice of a filing of an involuntary petition in bankruptcy against such licensee;
(b) The filing of a criminal indictment or information against such licensee regarding (i) a misdemeanor under state or federal law which involves dishonesty or fraud or which involves any aspect of the mortgage banking business, depository institution business, or installment loan company business or (ii) any felony under state or federal law;
(c) Such licensee was convicted of, pleaded guilty to, or was found guilty after a plea of nolo contendere to (i) a misdemeanor under state or federal law which involves dishonesty or fraud or which involves any aspect of the mortgage banking business, depository institution business, or installment loan company business or (ii) any felony under state or federal law;
(d) Any other state or jurisdiction institutes license denial, cease and desist, suspension, or revocation procedures against such licensee;
(e) The attorney general of any state, the Consumer Financial Protection Bureau, or the Federal Trade Commission initiates an action to enforce consumer protection laws against such licensee; or
(f) The Federal National Mortgage Association, Federal Home Loan Mortgage Corporation, Federal Housing Administration, or Government National Mortgage Association suspends or terminates such licensee's status as an approved loan originator.
(2) A licensee licensed as a mortgage loan originator shall update through the Nationwide Mortgage Licensing System and Registry his or her employment history on file with the department no later than ten business days after the submission of the required notice of the creation or termination of an employment relationship pursuant to section 45-735.
(3) A licensee licensed as a mortgage loan originator shall notify the director in writing or through the Nationwide Mortgage Licensing System and Registry within thirty days after the occurrence of a material development other than as described in subsections (1) and (2) of this section, including, but not limited to, any of the following:
(a) A change in such licensee's name;
(b) A change in such licensee's residential address;
(c) A change in such licensee's employment address;
(d) The filing of a tax or other governmental lien against such licensee;
(e) The entry of a monetary judgment against such licensee; or
(f) The entry of an order against such licensee, including orders to which such licensee consented, by any other state or federal regulator.
Source
Laws 2013, LB290, § 5.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-738 - Licensee; failure to deliver abstract of title.

45-738.
Licensee; failure to deliver abstract of title.
If a licensee in connection with a residential mortgage loan has possession of an abstract of title and fails to deliver the abstract to the borrower within twenty business days of the borrower's request made by certified mail, return receipt requested, in connection with a proposed sale of the real property, the borrower may authorize the preparation of a new abstract of title to the real property and the person failing to deliver the original abstract shall pay the borrower the reasonable costs of the preparation of the new abstract of title. If a borrower brings an action against the person failing to deliver an abstract of title to recover the payment made, the borrower shall also be entitled to recover reasonable attorney's fees and court costs incurred in the action.
Source
Laws 1989, LB 272, § 15;
R.S.1943, (2004), § 45-712;
Laws 2009, LB328, § 23.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-739 - Transfer of servicing rights; duties.

45-739.
Transfer of servicing rights; duties.
Not less than fifteen days prior to the effective date of the transfer of servicing rights involving any residential mortgage loan, the licensee transferring the servicing rights shall send a written notice of transfer to each borrower which shall include:
(1) The effective date of the transfer;
(2) The name, address, and telephone number of the transferee and the name of a referral person or department of the transferee;
(3) Instructions concerning payments made before the effective date of the transfer; and
(4) Instructions concerning payments made after the effective date of the transfer.
The provisions of this section shall not apply when the licensee transferring the servicing rights has provided the borrower with a written notice of transfer at the time of closing on the residential mortgage loan.
Source
Laws 1989, LB 272, § 16;
Laws 1996, LB 1053, § 12;
R.S.1943, (2004), § 45-713;
Laws 2009, LB328, § 24.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-743 - Violations; administrative fine; costs; lien.

45-743.
Violations; administrative fine; costs; lien.
(1) The director may, following a hearing under the Administrative Procedure Act and the rules and regulations adopted and promulgated under the 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 sections 45-737, 45-740, and 45-742 or otherwise violated the Residential Mortgage Licensing Act. Such administrative fine shall be in addition to or separate from any fine imposed against a licensee pursuant to section 45-742.
(2) If the director finds, after notice and hearing in accordance with the Administrative Procedure Act and the rules and regulations adopted and promulgated under the act, that any person has knowingly committed any act prohibited by section 45-742 or otherwise violated the Residential Mortgage Licensing Act, the director may order such person to pay (a) an administrative fine of not more than five 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 1995, LB 163, § 9;
Laws 2003, LB 218, § 12;
Laws 2006, LB 876, § 34;
R.S.Supp.,2008, § 45-717.01;
Laws 2009, LB328, § 28.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-744 - Cease and desist orders; department; powers; judicial review; violation; penalty.

45-744.
Cease and desist orders; department; powers; judicial review; violation; penalty.
(1) The department may order any person to cease and desist whenever the department determines that the person has violated any provision of the Residential Mortgage Licensing Act. Upon entry of a cease and desist order, the director shall promptly notify the affected person that such order has been entered, of the reasons for such order, and that upon receipt, within fifteen business days after the date of the order, of written request from the affected person a hearing will be scheduled within thirty business days after the date of receipt of the written request unless the parties consent to a later date or the hearing officer sets a later date for good cause. If a hearing is not requested and none is ordered by the director, the order shall remain in effect until it is modified or vacated.
(2) The director may vacate or modify a cease and desist order if he or she finds that the conditions which caused its entry have changed or that it is otherwise in the public interest to do so.
(3) A person aggrieved by a cease and desist order of the director may obtain judicial review of the order in the manner prescribed in the Administrative Procedure Act and the rules and regulations adopted and promulgated under the act. The director may obtain an order from the district court of Lancaster County for the enforcement of the cease and desist order.
(4) A person who violates a cease and desist order of the director may, after notice and hearing and upon further order of the director, be subject to a penalty of not more than five thousand dollars for each act in violation of the cease and desist order.
Source
Laws 1989, LB 272, § 20;
Laws 1995, LB 163, § 8;
Laws 2000, LB 932, § 33;
Laws 2001, LB 53, § 102;
Laws 2006, LB 876, § 33;
R.S.Supp.,2008, § 45-717;
Laws 2009, LB328, § 29.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-745 - Appeals.

45-745.
Appeals.
In addition to any other remedy a licensee may have, any licensee or any person considering himself or herself aggrieved by any action of the department under the Residential Mortgage Licensing Act may appeal the action, and the appeal shall be in accordance with the Administrative Procedure Act and the rules and regulations adopted and promulgated under the act.
Source
Laws 1989, LB 272, § 21;
R.S.1943, (2004), § 45-718;
Laws 2009, LB328, § 30.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-746 - Enforcement of act; director; powers; construction of act; failure to comply with act; effect.

45-746.
Enforcement of act; director; powers; construction of act; failure to comply with act; effect.
(1) The director may request the Attorney General to enforce the Residential Mortgage Licensing Act. A civil enforcement action by the Attorney General may be filed in the district court of Lancaster County. A civil enforcement action by the Attorney General may seek temporary and permanent injunctive relief, restitution for a borrower aggrieved by a violation of the act, and costs for the investigation and prosecution of the enforcement action.
(2) Except when expressly authorized, there shall be no private cause of action for any violation of the act.
(3) Nothing in the act shall limit any statutory or common-law right of any person to bring any action in any court for any act involved in the mortgage banking business or the right of the state to punish any person for any violation of law.
(4) Failure to comply with the act shall not affect the validity or enforceability of any residential mortgage loan. A person acquiring a residential mortgage loan or an interest in a residential mortgage loan is not required to ascertain the extent of compliance with the act.
Source
Laws 2006, LB 876, § 35;
R.S.Supp.,2008, § 45-717.02;
Laws 2009, LB328, § 31.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-747 - Prohibited acts; penalty.

45-747.
Prohibited acts; penalty.
(1) Any person required to be licensed or registered under the Residential Mortgage Licensing Act who, without first obtaining a license or registration under the act or while such license is on inactive status or expired or has been suspended, revoked, or canceled by the director, engages in the business of or occupation of, advertises or holds himself or herself out as, claims to be, or temporarily acts as a mortgage banker or mortgage loan originator in this state is guilty of a Class II misdemeanor.
(2) Any individual who has been convicted of, pleaded guilty to, or been found guilty after a plea of nolo contendere to (a) a misdemeanor under any state or federal law which involves dishonesty or fraud or which involves any aspect of the mortgage banking business, depository institution business, or installment loan company business or (b) any felony under state or federal law, and is employed by or maintains a contractual relationship as an agent of, any person required to be licensed or registered under the act, is guilty of a Class I misdemeanor.
Source
Laws 1989, LB 272, § 11;
Laws 1999, LB 396, § 34;
Laws 2007, LB124, § 44;
R.S.Supp.,2008, § 45-708;
Laws 2009, LB328, § 32.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-749 - Information sharing; privilege and confidentiality; limitations; applicability of section; director; powers.

45-749.
Information sharing; privilege and confidentiality; limitations; applicability of section; 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 mortgage 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 a privilege or confidentiality under subdivision (1)(a) of this section 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 (1)(a) of this section 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, or other associations representing governmental agencies as established by adopting and promulgating rules and regulations or by order of the director.
Source
Laws 2009, LB328, § 34;
Laws 2010, LB892, § 18.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-750 - Department; duties; rules and regulations.

45-750.
Department; duties; rules and regulations.
(1) The department shall be responsible for the administration and enforcement of the Residential Mortgage Licensing Act.
(2) The department may adopt and promulgate such rules and regulations as it may deem necessary in the administration of the act and not inconsistent with the act. The department shall make a good faith effort to provide a copy of the notice of hearing as required by section 84-907 in a timely manner to all licensees. Such notice may be sent electronically to licensees.
Source
Laws 1989, LB 272, § 18;
Laws 2003, LB 218, § 10;
Laws 2007, LB124, § 48;
R.S.Supp.,2008, § 45-715;
Laws 2009, LB328, § 35.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-751 - Money collected; disposition.

45-751.
Money collected; disposition.
(1) All fees, charges, and costs collected by the department pursuant to the Residential Mortgage Licensing Act shall be remitted to the State Treasurer for credit to the Financial Institution Assessment Cash Fund.
(2) The department shall remit fines collected under the Residential Mortgage Licensing Act to the State Treasurer for distribution in accordance with Article VII, section 5, of the Constitution of Nebraska.
Source
Laws 1989, LB 272, § 19;
Laws 1994, LB 1066, § 32;
Laws 1995, LB 163, § 7;
Laws 1995, LB 599, § 14;
Laws 2003, LB 218, § 11;
Laws 2007, LB124, § 51;
R.S.Supp.,2008, § 45-716;
Laws 2009, LB328, § 36.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-752 - Act; liberal construction.

45-752.
Act; liberal construction.
The Residential Mortgage Licensing Act shall be construed liberally so as to effectuate its purposes.
Source
Laws 1989, LB 272, § 22;
R.S.1943, (2004), § 45-719;
Laws 2009, LB328, § 37.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-753 - Personal jurisdiction; when.

45-753.
Personal jurisdiction; when.
Application for a license as a mortgage banker, for registration as a mortgage banker, or for a license as a mortgage loan originator pursuant to the Residential Mortgage Licensing Act shall constitute sufficient contact with this state for the exercise of personal jurisdiction in any action arising under the act.
Source
Laws 1989, LB 272, § 23;
R.S.1943, (2004), § 45-720;
Laws 2009, LB328, § 38.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-754 - Loans subject to act.

45-754.
Loans subject to act.
Any residential mortgage loan made with respect to real property located in this state shall be subject to the Residential Mortgage Licensing Act and all other applicable laws of this state, notwithstanding the place of execution, either nominal or real, of such residential mortgage loan.
Source
Laws 1989, LB 272, § 24;
R.S.1943, (2004), § 45-721;
Laws 2009, LB328, § 39.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-802 - Terms, defined.

45-802.
Terms, defined.
For purposes of the Credit Services Organization Act:
(1) Buyer shall mean an individual who is solicited to purchase or who purchases the services of a credit services organization;
(2) Consumer reporting agency shall have the meaning assigned by the Fair Credit Reporting Act, 15 U.S.C. 1681a(f);
(3) Credit services organization shall mean a person who, with respect to the extension of credit by others and in return for the payment of money or other valuable consideration, provides or represents that the person can or will provide any of the following services:
(a) Improving a buyer's credit record, history, or rating;
(b) Obtaining an extension of credit for a buyer; or
(c) Providing advice or assistance to a buyer with regard to subdivision (a) or (b) of this subdivision;
(4) Extension of credit shall mean the right to defer payment of debt or to incur debt and defer its payment offered or granted primarily for personal, family, or household purposes; and
(5) Person shall include individual, corporation, company, association, partnership, limited liability company, and other business entity.
Source
Laws 1991, LB 292, § 2;
Laws 1993, LB 121, § 276.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-803 - Exemptions.

45-803.
Exemptions.
(1) The following shall be exempt from the Credit Services Organization Act:
(a) A person authorized to make loans or extensions of credit under the laws of this state or the United States who is subject to regulation and supervision by this state or the United States or a lender approved by the United States Secretary of Housing and Urban Development for participation in a mortgage insurance program under the National Housing Act, 12 U.S.C. 1701 et seq.;
(b) A bank or savings and loan association whose deposit or accounts are eligible for insurance by the Federal Deposit Insurance Corporation or a subsidiary of such a bank or savings and loan association;
(c) A credit union doing business in this state;
(d) A nonprofit organization exempt from taxation under section 501(c)(3) of the Internal Revenue Code;
(e) A person licensed as a real estate broker or salesperson under the Nebraska Real Estate License Act acting within the course and scope of that license;
(f) A person licensed to practice law in this state acting within the course and scope of the person's practice as an attorney;
(g) A broker-dealer registered with the Securities and Exchange Commission or the Commodity Futures Trading Commission acting within the course and scope of that regulation;
(h) A consumer reporting agency;
(i) A person whose primary business is making loans secured by liens on real property;
(j) A person, firm, corporation, or association licensed as a collection agency in this state or a person holding a solicitor's certificate in this state acting within the course and scope of that license or certificate; and
(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.
Source
Laws 1991, LB 292, § 3;
Laws 1995, LB 574, § 50.
Cross References
For provisions on licensing of collection agencies and solicitors, see Chapter 45, article 6.
Nebraska Real Estate License Act, see section 81-885.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-804 - Prohibited acts.

45-804.
Prohibited acts.
A credit services organization, a salesperson, an agent, or a representative of a credit services organization, or an independent contractor who sells or attempts to sell the services of a credit services organization shall not:
(1) Charge a buyer or receive from a buyer money or other valuable consideration before completing performance of all services, other than those described in subdivision (2) of this section, which the credit services organization has agreed to perform for the buyer unless the credit services organization has obtained a surety bond or established and maintained a surety account as provided in section 45-805;
(2) Charge a buyer or receive from a buyer money or other valuable consideration for obtaining or attempting to obtain an extension of credit that the credit services organization has agreed to obtain for the buyer before the extension of credit is obtained;
(3) Charge a buyer or receive from a buyer money or other valuable consideration solely for referral of the buyer to a retail seller who will or may extend credit to the buyer if the credit that is or will be extended to the buyer is substantially the same as that available to the general public;
(4) Make or use a false or misleading representation in the offer or sale of the services of a credit services organization, including (a) guaranteeing to erase bad credit or words to that effect unless the representation clearly discloses that this can be done only if the credit history is inaccurate or obsolete and (b) guaranteeing an extension of credit regardless of the person's previous credit problem or credit history unless the representation clearly discloses the eligibility requirements for obtaining an extension of credit;
(5) Engage, directly or indirectly, in a fraudulent or deceptive act, practice, or course of business in connection with the offer or sale of the services of a credit services organization;
(6) Make or advise a buyer to make a statement with respect to a buyer's credit worthiness, credit standing, or credit capacity that is false or misleading or that should be known by the exercise of reasonable care to be false or misleading to a consumer reporting agency or to a person who has extended credit to a buyer or to whom a buyer is applying for an extension of credit;
(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; or
(8) Notwithstanding any other provision of law, charge any brokerage fees or any other fees or charges whatsoever in connection with a loan governed by the Nebraska Installment Loan Act.
Source
Laws 1991, LB 292, § 4;
Laws 2018, LB194, § 1.
Cross References
Nebraska Installment Loan Act, see section 45-1001.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-805 - Surety bond or surety account; requirements; action on surety; depository; Secretary of State; powers and duties.

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.
Source
Laws 1991, LB 292, § 5.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-806 - Registration statement; contents; requirements; fee.

45-806.
Registration statement; contents; requirements; fee.
(1) A credit services organization shall file a registration statement with the Secretary of State before conducting business in this state. The registration statement shall contain:
(a) The name and address of the credit services organization; and
(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.
(2) The registration statement shall also contain either:
(a) A full and complete disclosure of any litigation or unresolved complaint filed with a governmental authority of this state relating to the operation of the credit services organization; or
(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 remit the fees received pursuant to this section to the State Treasurer for credit to the Secretary of State Cash Fund. The Secretary of State shall not require a credit services organization to provide information other than that provided in the registration statement.
Source
Laws 1991, LB 292, § 6;
Laws 2020, LB910, § 16.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-807 - Written statement to buyer; contents; credit services organization; duties.

45-807.
Written statement to buyer; contents; credit services organization; duties.
(1) Before executing a contract or agreement with or receiving money or other valuable consideration from a buyer, a credit services organization shall provide the buyer with a written statement containing:
(a) A complete and detailed description of the services to be performed by the credit services organization for the buyer and the total cost of the services;
(b) A statement explaining the buyer's right to proceed against the surety bond or surety account required by section 45-805;
(c) The name and address of the surety company that issued the bond or the name and address of the depository and the trustee and the account number of the surety account;
(d) A complete and accurate statement of the buyer's right to review any file on the buyer maintained by a consumer reporting agency as provided by the Fair Credit Reporting Act, 15 U.S.C. 1681 et seq.;
(e) A statement that the buyer's file is available for review at no charge on request made to the consumer reporting agency within thirty days after the date of receipt of notice that credit has been denied and that the buyer's file is available for a minimal charge at any other time;
(f) A complete and accurate statement of the buyer's right to dispute directly with the consumer reporting agency the completeness or accuracy of any item contained in a file on the buyer maintained by the consumer reporting agency;
(g) A statement that accurate information cannot be permanently removed from the files of a consumer reporting agency;
(h) A complete and accurate statement of when consumer information becomes obsolete and of when consumer reporting agencies are prevented from issuing reports containing obsolete information; and
(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.
Source
Laws 1991, LB 292, § 7.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-808 - Contract; requirements; cancellation; procedure; notice; breach; effect.

45-808.
Contract; requirements; cancellation; procedure; notice; breach; effect.
(1) Each contract between the buyer and a credit services organization for the purchase of the services of the credit services organization shall be in writing, dated, and signed by the buyer and shall include:
(a) A statement in type that is boldface, capitalized, underlined, or otherwise set out from surrounding written materials so as to be conspicuous, in immediate proximity to the space reserved for the signature of the buyer, as follows: "You, the buyer, may cancel this contract at any time before midnight of the third day after the date the contract is signed. See the attached notice of cancellation form for an explanation of this right.";
(b) The terms and conditions of payment, including the total of all payments to be made by the buyer, whether to the credit services organization or to another person;
(c) A full and detailed description of the services to be performed by the credit services organization for the buyer, including all guarantees and all promises of full or partial refunds, and the estimated length of time, not to exceed one hundred eighty days, for performing the services; and
(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.
(3) The contract shall have attached two easily detachable copies of a notice of cancellation. The notice shall be in boldface in the following form:
Notice of Cancellation
You may cancel this contract, without any penalty or obligation, within three days after the date the contract is signed.
If you cancel, any payment made by you under this contract will be returned within ten days after the date of receipt by the seller of your cancellation notice.
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.
(date)
(purchaser's signature)
(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.
Source
Laws 1991, LB 292, § 8.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-809 - Waiver of rights; void.

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.
Source
Laws 1991, LB 292, § 9.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-810 - Damages.

45-810.
Damages.
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.
Source
Laws 1991, LB 292, § 10.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-812 - Violation; deceptive trade practice.

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.
Source
Laws 1991, LB 292, § 12.
Cross References
Uniform Deceptive Trade Practices Act, see section 87-306.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-813 - Statute of limitations.

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.
Source
Laws 1991, LB 292, § 13.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-901 - Act, how cited.

45-901.
Act, how cited.
Sections 45-901 to 45-931 shall be known and may be cited as the Delayed Deposit Services Licensing Act.
Source
Laws 1994, LB 967, § 1;
Laws 2006, LB 876, § 36;
Laws 2012, LB269, § 1;
Laws 2018, LB194, § 2;
Laws 2020, LB909, § 35.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-902 - Terms, defined.

45-902.
Terms, defined.
For purposes of the Delayed Deposit Services Licensing Act:
(1) Annual percentage rate means an annual percentage rate as determined under section 107 of the federal Truth in Lending Act, 15 U.S.C. 1606, as such section existed on January 1, 2020, and includes all fees, interest, and charges contained in a delayed deposit service contract, except for charges permitted for the presentation of instruments that are not negotiable under subdivision (1)(a)(v) of section 45-917 or returned unpaid under section 45-918.01;
(2) Check means any check, draft, or other instrument for the payment of money. Check also means an authorization to debit an account electronically;
(3) Default means a maker's failure to repay a delayed deposit transaction in compliance with the terms contained in a delayed deposit service agreement;
(4) Delayed deposit services business means any person who for a fee (a) accepts a check dated subsequent to the date it was written or (b) accepts a check dated on the date it was written and holds the check for a period of days prior to deposit or presentment pursuant to an agreement with or any representation made to the maker of the check, whether express or implied;
(5) Department means the Department of Banking and Finance;
(6) Director means the Director of Banking and Finance or his or her designee;
(7) Financial institution has the same meaning as in section 8-101.03;
(8) Licensee means any person licensed under the Delayed Deposit Services Licensing Act;
(9) Maker means an individual who receives the proceeds of a delayed deposit transaction;
(10) Nationwide Mortgage Licensing System and Registry means a licensing system developed and maintained by the Conference of State Bank Supervisors and the American Association of Residential Mortgage Regulators for the licensing and registration of mortgage loan originators, mortgage bankers, installment loan companies, and other state-regulated financial services entities and industries; and
(11) Person means an individual, proprietorship, association, joint venture, joint-stock company, partnership, limited partnership, limited liability company, business corporation, nonprofit corporation, or any group of individuals however organized.
Source
Laws 1994, LB 967, § 2;
Laws 2001, LB 53, § 103;
Laws 2003, LB 217, § 37;
Laws 2017, LB140, § 154;
Laws 2018, LB194, § 3;
Laws 2020, LB909, § 36.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-903 - Act; not applicable to financial institutions.

45-903.
Act; not applicable to financial institutions.
The Delayed Deposit Services Licensing Act shall not apply to a financial institution organized under the laws of this state or the laws of the United States.
Source
Laws 1994, LB 967, § 3.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-904 - License required; void transaction; effect.

45-904.
License required; void transaction; effect.
No person shall operate a delayed deposit services business or make or offer a delayed deposit transaction in this state unless the person is licensed by the director as provided in the Delayed Deposit Services Licensing Act. Any delayed deposit transaction that is made by a person who is required to be licensed pursuant to the act but who is not licensed is void, and the person making such delayed deposit transaction has no right to collect, receive, or retain any principal, interest, fees, or any other charges in connection with such delayed deposit transaction.
Source
Laws 1994, LB 967, § 4;
Laws 2018, LB194, § 4.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-905 - Application for license; form; contents; criminal history record information check.

45-905.
Application for license; form; contents; criminal history record information check.
(1) An applicant for a license shall submit an application, under oath, to the director on forms prescribed by the director. The forms shall contain such information as the director may prescribe, including, but not limited to:
(a) The applicant's financial condition;
(b) The qualifications and business history of the applicant and of its officers, directors, shareholders, partners, or members;
(c) Whether the applicant or any of its officers, directors, shareholders, partners, or members have ever been convicted of any (i) misdemeanor involving any aspect of a delayed deposit services business or any business of a similar nature or (ii) felony;
(d) Whether the applicant or any of its officers, directors, shareholders, partners, or members have ever been permanently or temporarily enjoined by a court of competent jurisdiction from engaging in or continuing any conduct or practice involving any aspect of a delayed deposit services business or any business of a similar nature;
(e) A description of the applicant's proposed method of doing business; and
(f) If the applicant is an individual, the applicant's social security number.
(2) The director shall cause a criminal history record information check to be conducted of the applicant, its officers, directors, shareholders, partners, or members and, on or after January 1, 2021, as provided in subsection (1) of section 45-905.01. The direct cost of the criminal history record information check shall be paid by the applicant.
Source
Laws 1994, LB 967, § 5;
Laws 1997, LB 752, § 119;
Laws 2020, LB909, § 37.