reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,112 - Terms, defined.

45-1,112.
Terms, defined.
For purposes of sections 45-1,112 to 45-1,115:
(1)(a) Credit agreement means:
(i) A contract, promise, undertaking, offer, or commitment to loan money or to grant or extend credit; or
(ii) A contract, promise, undertaking, or offer to forebear repayment of money or to make any other financial accommodation in connection with a loan of money or grant or extension of credit, or any amendment of, cancellation of, waiver of, or substitution for any or all of the terms or provisions of any instrument or document executed in connection with a loan of money or grant or extension of credit, except for loans of money or grants or extensions of credit which are:
(A) Not in excess of twenty-five thousand dollars and used primarily for personal, family, or household purposes of the debtor or debtors; or
(B) Used for the purchase of and secured solely by the principal residence of the debtor or debtors.
(b) Credit agreement does not include (i) letters of credit or (ii) promissory notes, real estate mortgages, trust deeds, security agreements, financing statements, guarantee agreements, pledge agreements, or other similar documents or instruments evidencing an obligation to repay indebtedness or securing the repayment of indebtedness;
(2) Creditor means any financial institution which makes a credit agreement with a debtor;
(3) Debtor means a person or entity which obtains credit from a creditor, seeks a credit agreement with a creditor, or owes money to a creditor; and
(4) Financial institution means a state-chartered or federally chartered bank, savings bank, building and loan association, credit union, or savings and loan association or a holding company or affiliate or subsidiary of such an institution.
Source
Laws 1989, LB 606, § 1;
Laws 1990, LB 1199, § 1;
Laws 2003, LB 131, § 27.
Annotations
The broad language in the definition of credit agreements precludes recovery for a credit agreement based on the promissory estoppel doctrine, which is wholly dependent on reliance on a promise or assurance. Synergy4 Enters. v. Pinnacle Bank, 290 Neb. 241, 859 N.W.2d 552 (2015).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,113 - Action or defense based on credit agreement; requirements.

45-1,113.
Action or defense based on credit agreement; requirements.
(1) A debtor or a creditor may not maintain an action or assert a defense in an action based on a credit agreement unless the credit agreement is in writing, expresses consideration, sets forth the relevant terms and conditions of the credit agreement, and is signed by the creditor and by the debtor.
(2) Subsection (1) of this section shall not apply to (a) credit extended on an account as defined in section 4-104, Uniform Commercial Code, (b) loans initiated by credit card or other type of transaction card, or (c) credit agreements as defined in subdivision (1)(a)(ii) of section 45-1,112 unless the creditor, at the time of the initial loan of money or grant or extension of credit, has given to the debtor a written notice, signed or initialed by the debtor, which contains substantially the following language: A credit agreement must be in writing to be enforceable under Nebraska law. To protect you and us from any misunderstandings or disappointments, any contract, promise, undertaking, or offer to forebear repayment of money or to make any other financial accommodation in connection with this loan of money or grant or extension of credit, or any amendment of, cancellation of, waiver of, or substitution for any or all of the terms or provisions of any instrument or document executed in connection with this loan of money or grant or extension of credit, must be in writing to be effective.
(3) This section shall not be construed to limit or bar the recovery of money owed or collateral securing a loan in any way.
Source
Laws 1989, LB 606, § 2;
Laws 1990, LB 1199, § 2.
Annotations
The credit agreement statute of frauds is not coextensive with the general statute of frauds with all the common-law exceptions. Synergy4 Enters. v. Pinnacle Bank, 290 Neb. 241, 859 N.W.2d 552 (2015).
This section supersedes the common-law theory of promissory estoppel insofar as it applies to unwritten credit agreements or oral promises to loan money or extend credit. Synergy4 Enters. v. Pinnacle Bank, 290 Neb. 241, 859 N.W.2d 552 (2015).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,114 - Implied credit agreement; limitations.

45-1,114.
Implied credit agreement; limitations.
A credit agreement shall not be implied under any circumstances from (1) the relationship, fiduciary or otherwise, of the creditor and the debtor, (2) the rendering of financial advice by a creditor to a debtor, or (3) consultation by a creditor with a debtor.
Source
Laws 1989, LB 606, § 3;
Laws 1990, LB 1199, § 3.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,115 - Sections; applicability.

45-1,115.
Sections; applicability.
Sections 45-1,112 to 45-1,115 shall apply to credit agreements entered into on or after July 10, 1990.
Source
Laws 1989, LB 606, § 4;
Laws 1990, LB 1199, § 4.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-204 - Terms, defined.

45-204.
Terms, defined.
As used in sections 45-204 to 45-209, unless the context otherwise requires:
(1) Seller shall mean a person, firm, or corporation, except a bank, selling goods or furnishing services to a buyer under a revolving charge agreement, including the operator of a card system whereby a cardholder purchases goods or services from participating merchants or others;
(2) Buyer shall mean a person, firm, or corporation buying goods or services from a seller or using a card system for the purchase of goods or services from participating merchants or others under a revolving charge agreement;
(3) Time-price differential, however denominated or expressed, shall mean the amount or rate which is paid or payable for the privilege of purchasing goods or services to be paid for by the buyer in installments over a period of time; and
(4) Revolving charge agreement shall mean an agreement prescribing the terms of installment sales to be made from time to time pursuant thereto wherein the buyer's total unpaid balance is payable in installments over a period of time, and under the terms of which a time-price differential as provided in section 45-207 is to be computed in relation to the buyer's unpaid balance from time to time.
Source
Laws 1965, c. 267, § 1, p. 754;
Laws 1984, LB 736, § 1.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-205 - Agreements; requirements; fees and delinquency charges authorized.

45-205.
Agreements; requirements; fees and delinquency charges authorized.
Every revolving charge agreement shall be in writing and shall be signed by the buyer. Such requirements may be met when disclosure of the revolving charge credit terms has been made to the buyer in conformity with the requirements of the federal Consumer Credit Protection Act before the first extension of credit to the buyer under the revolving charge agreement, and the buyer has signed an application for the revolving charge credit or the buyer signs a sales slip in connection with such extension of credit if the application has been solicited by telephone with disclosure of the periodic rate of the time-price differential by the seller at the time of the telephone solicitation. A copy of any such agreement shall be delivered or mailed to the buyer by the seller prior to the date on which the first payment is due thereunder. All agreements executed on or after such date shall state the amount or rate of the time-price differential to be charged and paid pursuant thereto. If a seller proffers a revolving charge agreement as part of a transaction which delays or cancels, or promises to delay or cancel, the payment of the time-price differential on the revolving charge agreement, if the buyer pays the basic time price, cash price, or cash sale price within a certain period of time, the seller shall, in clear and conspicuous writing, either within the revolving charge agreement or in a separate document or, in lieu thereof, within a statement sent by the seller to the buyer no later than thirty-five days after the buyer's purchase of goods or services, or in the case of special order goods which are not available for immediate delivery no later than thirty-five days after the buyer's receipt of goods, inform the buyer of the exact date by which the buyer must pay the basic time price, cash price, or cash sale price in order to delay or cancel the payment of the time-price differential. The seller or any subsequent purchaser of the revolving charge agreement shall not be allowed to change such date. In addition to the sale price of the goods or services and the time-price differential provided for in sections 45-204 to 45-208, no further or other amount whatsoever shall be directly or indirectly charged, contracted for, or received, except that a seller may (1) contract for and receive fees for participation in a card system which offers services other than revolving charges and (2) impose delinquency charges on each payment in default for a period of not less than ten days not to exceed five percent of the amount due or five dollars, whichever is greater. A delinquency charge under this section may be collected only once on each payment due, however long it remains in default. A delinquency charge may be collected at the time it accrues or at any time afterward.
Source
Laws 1965, c. 267, § 2, p. 754;
Laws 1984, LB 736, § 3;
Laws 1995, LB 614, § 2;
Laws 2000, LB 932, § 31;
Laws 2004, LB 999, § 32.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-206 - Monthly statement by seller; contents; payment in full; requirements.

45-206.
Monthly statement by seller; contents; payment in full; requirements.
(1) The seller under a revolving charge agreement shall promptly supply the buyer under such agreement with a statement as of the end of each monthly period, which need not be a calendar month, or other regular period agreed upon by the seller and the buyer, in which there is any unpaid balance thereunder, which shall recite the following: (a) The unpaid balance under the revolving charge agreement at the beginning and end of the period; (b) unless otherwise furnished by the seller to the buyer by sales slip, memorandum, or otherwise, a description or identification of the goods or services purchased, the cash price, and the date of each purchase; (c) the payments made by the buyer to the seller and any other credits to the buyer during the period; (d) the amount of the time-price differential, if any; and (e) a legend to the effect that the buyer may at any time pay the total balance or any portion thereof. The items need not be stated in the sequence or order set forth in this subsection and additional items may be included to explain the computations made in determining the amount to be paid by the buyer. Compliance with the applicable disclosure requirements of the federal regulations which implement the federal Consumer Credit Protection Act shall be deemed compliance with this section.
(2) If the amount owed under a revolving charge agreement has been paid in full and has been inactive for at least twenty-four months, the seller shall mark the revolving charge agreement as closed or paid in full. The seller shall give written notice to the buyer of the closed or paid-in-full status of the revolving charge agreement within forty-five days after the seller has so marked the revolving charge agreement.
Source
Laws 1965, c. 267, § 3, p. 754;
Laws 1984, LB 736, § 4;
Laws 2004, LB 999, § 33.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-207 - Time-price differential; rate; maximum.

45-207.
Time-price differential; rate; maximum.
Notwithstanding the provisions of any other law, the seller or assignee under a revolving charge agreement may charge, receive, and collect a time-price differential which shall not exceed the following rate: One and three-quarters percent per month on amounts less than five hundred dollars, and one and one-half percent per month on amounts of five hundred dollars or more. The rate shall be computed on the unpaid balance under the agreement from month to month, which need not be a calendar month, or other period as agreed, except that no time-price differential shall be assessed on an account if payment of the outstanding balance is received prior to the beginning of the next billing cycle under the agreement.
Source
Laws 1965, c. 267, § 4, p. 755;
Laws 1977, LB 40, § 253;
Laws 1980, LB 308, § 1;
Laws 1984, LB 736, § 5.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-208 - Violations; penalty.

45-208.
Violations; penalty.
Any person who willfully and knowingly violates any provisions of section 45-207 shall be guilty of a Class II misdemeanor. In addition the seller shall forfeit all time-price differential paid and cancel the outstanding indebtedness.
Source
Laws 1965, c. 267, § 5, p. 755;
Laws 1977, LB 40, § 253.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-334 - Act, how cited.

45-334.
Act, how cited.
Sections 45-334 to 45-356 shall be known and may be cited as the Nebraska Installment Sales Act.
Source
Laws 1965, c. 268, § 1, p. 756;
Laws 1994, LB 979, § 11;
Laws 2007, LB124, § 31;
Laws 2012, LB965, § 1;
Laws 2016, LB778, § 3.
Annotations
Installment Sales Act of 1965 sustained as constitutional. Engelmeyer v. Murphy, 180 Neb. 295, 142 N.W.2d 342 (1966).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-337 - Insurance; policy; cancellation; premium refund; fee.

45-337.
Insurance; policy; cancellation; premium refund; fee.
(1) The amount, if any, included for insurance, which may be purchased by the holder of the contract, shall not exceed the applicable premium rates chargeable in accordance with filings, if any, with the Department of Insurance. If dual interest insurance on the goods is purchased by the holder it shall, within thirty days after execution of the installment contract, send or cause to be sent to the buyer a policy or policies or certificate of insurance, written by an insurance company authorized to do business in this state, clearly setting forth the amount of the premium, the kind or kinds of insurance, the coverages, and all the terms and conditions of the contract or contracts of insurance.
(2) If any insurance is canceled or the premium adjusted during the term of the installment contract, any refund of the insurance premium plus the unearned time-price differential thereon received by the holder shall be credited by the holder to the last maturing installment of the contract except to the extent applied toward payment for similar insurance protecting the interests of the buyer and the holder or either of them.
(3) If any insurance is canceled due to the payment of all sums for which the buyer is liable under an installment contract, the holder of the installment contract shall, upon receipt of payment of all sums due, send notice to the buyer within fifteen business days of the name, address, and telephone number of the insurance company which issued the insurance contract or the party responsible for any refund, and notice that the buyer may be eligible for a refund. A copy of such notice shall be retained by the holder of the installment contract. This subsection does not apply if the holder of the loan contract previously credited the refund of the insurance premium to the loan contract or otherwise refunded the insurance premium to the buyer.
(4) The holder may also purchase nonfiling insurance and charge a reasonable fee. The fee shall not exceed the amount of fees and charges prescribed by law which would have been paid to public officials for filing, perfecting, releasing, and satisfying any lien or security interest in the goods or services.
Source
Laws 1965, c. 268, § 4, p. 759;
Laws 1989, LB 94, § 2;
Laws 2000, LB 932, § 32;
Laws 2002, LB 957, § 21.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-339 - Subsequent purchases; consolidate with previous contract; requirements.

45-339.
Subsequent purchases; consolidate with previous contract; requirements.
Where a buyer makes any subsequent purchases of goods or services from a seller from whom he has previously purchased goods or services under one or more installment contracts and the amounts under such contract or contracts to the extent of cash sale price thereof have not been fully paid the subsequent purchases may be included in and consolidated with one or more of the prior contract or contracts. A memorandum of such additional purchases shall be prepared by the seller and inserted in or attached to the seller's counterpart of the contract and shall set forth:
(1) The names of the seller and the buyer and a description of the additional goods or services sold and all the information with respect to the additional purchase required by section 45-336 to be included in an installment contract;
(2) The consolidated time-price balance to be paid by the buyer; and
(3) The revised payments.
A copy of such memorandum shall be delivered to the buyer as provided in and subject to the provisions of section 45-336. When such subsequent purchases are made, the entire amount of all payments made prior to such subsequent purchases shall be deemed to have been applied on previous purchases.
Each payment thereafter made on a consolidated installment contract shall be deemed to be allocated to all of the various purchases in the same ratio or proportion as the original cash sale prices of the various purchases bear to one another. Where the amount of each deferred payment is increased in connection with such subsequent purchase, the subsequent payments, at the seller's option, may be deemed to be allocated as follows: An amount equal to the original installment payment to the previous purchase, the balance to the subsequent purchase. The amount of any initial payment or downpayment on the subsequent purchase shall be allocated in its entirety to such subsequent purchase. The provisions of this section shall not apply to cases involving equipment, parts, or to other merchandise attached or affixed to goods previously purchased, or to repairs or services in connection therewith rendered by the seller at the buyer's request.
Source
Laws 1965, c. 268, § 6, p. 761.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-340 - Contracts negotiated by mail; requirements.

45-340.
Contracts negotiated by mail; requirements.
Installment contracts negotiated and entered into by mail without personal solicitation by salespersons or other representatives of the seller and based upon the catalog of the seller or other printed solicitation of business, which is distributed and made available generally to the public, if such catalog or other printed solicitation clearly sets forth the cash and time-sale prices and other terms of sales to be made through such medium, may be made as provided in this section. All provisions of the Nebraska Installment Sales Act shall apply to such sales except that the seller shall not be required to deliver a copy of the contract to the buyer as provided in section 45-336 and if the contract when received by the seller contains any blank spaces the seller may insert in the appropriate blank space the amounts of money and other terms which are set forth in the seller's catalog or other printed solicitation which is then in effect. In lieu of sending the buyer a copy of the contract as provided in section 45-336, the seller shall furnish to the buyer a written statement of any items inserted in the blank spaces in the contract received from the buyer.
Source
Laws 1965, c. 268, § 7, p. 762;
Laws 2007, LB124, § 32;
Laws 2019, LB355, § 3.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-341 - Delinquency charges; limitation; fee.

45-341.
Delinquency charges; limitation; fee.
An installment contract may provide and the holder thereof may collect, in addition to any time-price differential, a delinquency charge on each installment in default for a period of not less than fifteen days, if provided for in the contract, not in excess of five percent of each installment or twenty-five dollars, whichever is less, or, in lieu thereof, interest after maturity on each such installment not exceeding the highest permissible contract rate. If the time-price differential is computed by application of the rate charged to the unpaid principal balance for the number of days actually elapsed, such delinquency charge may not exceed five percent of each installment or twenty-five dollars, whichever is less. If any installment payment is made by a check, draft, or similar signed order which is not honored because of insufficient funds, no account, or any other reason except an error of a third party to the contract, the holder may charge and collect a fee of not more than fifteen dollars. The delinquency charge and such fee may be collected when due or at any time thereafter.
When an installment contract is for a commercial or business purpose (1) a delinquency charge not to exceed five percent of each unpaid installment may be contracted for and received and (2) the holder of any check or draft or similar order which is not honored for any reason, except for error of a third party, may charge and collect a fee as stated in the contract. As used in this section, commercial or business purpose means primarily for a purpose other than a personal, family, or household purpose.
Source
Laws 1965, c. 268, § 8, p. 762;
Laws 1979, LB 478, § 2;
Laws 1989, LB 94, § 3;
Laws 1995, LB 339, § 1.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-342 - Prepayment; rebate; how computed.

45-342.
Prepayment; rebate; how computed.
(1) Notwithstanding the provisions of any contract to the contrary, any buyer may prepay in full at any time before maturity the obligation of any contract.
(2) If such obligation is prepaid in full by cash, a new loan, or otherwise after the first installment due date, the borrower shall receive a rebate of an amount which shall be not less than the amount obtained by applying to the unpaid principal balances as originally scheduled or, if deferred, as deferred, for the period following prepayment, according to the actuarial method, the rate of the time-price differential previously stated to the borrower. The licensee may round the rate of the time-price differential to the nearest one-half of one percent if such procedure is not consistently used to obtain a greater yield than would otherwise be permitted. Any default and deferment charges which are due and unpaid may be deducted from any rebate. No rebate shall be required for any partial prepayment. No rebate of less than one dollar need be made. Acceleration of the maturity of the contract shall not in itself require a rebate. If judgment is obtained before the final installment date, the contract balance shall be reduced by the rebate which would be required for prepayment in full as of the date judgment is obtained.
Source
Laws 1965, c. 268, § 9, p. 762;
Laws 1979, LB 478, § 3;
Laws 1980, LB 279, § 8;
Laws 1981, LB 214, § 6;
Laws 1992, LB 269, § 3;
Laws 2004, LB 999, § 34.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-343 - Failure to obtain license; penalty.

45-343.
Failure to obtain license; penalty.
Any person who violates any provision of the Nebraska Installment Sales Act or acts as a sales finance company in this state without a license therefor as provided in the Nebraska Installment Sales Act shall be guilty of a Class II misdemeanor.
Source
Laws 1965, c. 268, § 10, p. 763;
Laws 1977, LB 40, § 254;
Laws 2003, LB 217, § 35.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-344 - Excess charges; penalty.

45-344.
Excess charges; penalty.
If any seller or sales finance company, in the making or collection of an installment contract, shall, directly or indirectly, contract for, take, or receive charges in excess of those authorized by the Nebraska Installment Sales Act except as a result of an accidental and bona fide error such contract shall be void and uncollectible as to (1) all of the excessive portion of the time-price differential, (2) the first one thousand dollars of the time-price differential authorized by section 45-338, and (3) the first four thousand dollars of the principal of the contract. If any seller or sales finance company violates any provision of the act, other than the violations described above, except as a result of an accidental and bona fide error, such installment contract shall be void and uncollectible as to the first five hundred dollars of the time-price differential and the first one thousand dollars of the principal of such contract. If any of such money has been paid by the buyer, such buyer or his or her assignee may recover under the act in a civil suit brought within one year after the due date, or any extension thereof, of the last installment of the contract.
Source
Laws 1965, c. 268, § 11, p. 763;
Laws 2007, LB124, § 33.
Annotations
Installment contract provision for attorney fees "to the extent permitted by law," which were not collected, and interest charged for extension of contract were not violations of this act. Watson v. Avco Financial Servs., 224 Neb. 778, 401 N.W.2d 485 (1987).
Although called a lease agreement, the contract involved in this case was actually for an installment sale and, therefore, subject to the provisions of this section. Humber v. Gibreal Auto Sales, Inc., 207 Neb. 286, 298 N.W.2d 363 (1980).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-345 - License; requirement; exception.

45-345.
License; requirement; exception.
(1) No person shall act as a sales finance company in this state without obtaining a license therefor from the department as provided in the Nebraska Installment Sales Act whether or not such person maintains an office, place of doing business, or agent in this state, unless such person meets the requirements of section 45-340.
(2) No financial institution or installment loan licensee authorized to do business in this state shall be required to obtain a license under the act but shall comply with all of the other provisions of the act.
(3) A seller who does not otherwise act as a sales finance company shall not be required to obtain a license under the act but shall comply with all of the other provisions of the act in order to charge the time-price differential allowed by section 45-338.
Source
Laws 1965, c. 268, § 12, p. 763;
Laws 1973, LB 39, § 4;
Laws 1996, LB 1053, § 10;
Laws 2003, LB 131, § 28;
Laws 2003, LB 217, § 36;
Laws 2012, LB965, § 3.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-346.01 - Licensee; move of main office; notice to director; maintain minimum net worth; bond.

45-346.01.
Licensee; move of main office; notice to director; maintain minimum net worth; bond.
(1) A licensee may move its main office from one place to another without obtaining a new license if the licensee gives notice thereof to the director through the Nationwide Mortgage Licensing System and Registry at least thirty days prior to such move.
(2) A licensee shall notify the director through the Nationwide Mortgage Licensing System and Registry at least thirty days prior to the occurrence of any of the following:
(a) The establishment of a new branch office. Notice of each such establishment shall be accompanied by a fee of one hundred dollars and any processing fee allowed under subsection (2) of section 45-354;
(b) The relocation or closing of an existing branch office; or
(c) A change of name, trade name, or doing business as designation.
(3) A licensee shall maintain the minimum net worth as required by section 45-346 while a license issued under the Nebraska Installment Sales Act is in effect. The minimum net worth shall be proven by an annual audit conducted by a certified public accountant. A licensee shall submit a copy of the annual audit to the director as required by section 45-348 or upon written request of the director. If a licensee fails to maintain the required minimum net worth, the department may issue a notice of cancellation of the license in lieu of revocation proceedings.
(4) The surety bond or a substitute bond as required by section 45-346 shall remain in effect while a license issued under the Nebraska Installment Sales Act is in effect. If a licensee fails to maintain a surety bond or substitute bond, the licensee shall immediately cease doing business and surrender the license to the department. If the licensee does not surrender the license, the department may issue a notice of cancellation of the license in lieu of revocation proceedings.
Source
Laws 2007, LB124, § 35;
Laws 2009, LB327, § 17;
Laws 2012, LB965, § 5;
Laws 2019, LB355, § 5.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-347 - Fees; disposition.

45-347.
Fees; disposition.
All money collected under the authority of the Nebraska Installment Sales Act shall be remitted to the State Treasurer for credit to the Financial Institution Assessment Cash Fund.
Source
Laws 1965, c. 268, § 14, p. 764;
Laws 1973, LB 39, § 5;
Laws 1995, LB 599, § 13;
Laws 2007, LB124, § 36.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-348 - License; renewal; licensee; duties; fee; voluntary surrender of license.

45-348.
License; renewal; licensee; duties; fee; voluntary surrender of license.
(1) An installment sales license may be renewed annually on or before December 31 by paying to the director a fee of one hundred fifty dollars, plus one hundred dollars for each branch office, if applicable, and any processing fee allowed under subsection (2) of section 45-354 and by submitting such information as the director may require to indicate any material change in the information contained in the original application or succeeding renewal applications, including a copy of the licensee's most recent annual audit.
(2) A licensee may voluntarily surrender a license at any time by delivering to the director written notice of the surrender. The department shall cancel the license following such surrender.
(3) If a licensee fails to renew its license and does not voluntarily surrender the license pursuant to this section, the department may issue a notice of expiration of the license to the licensee in lieu of revocation proceedings.
Source
Laws 1965, c. 268, § 15, p. 765;
Laws 2005, LB 533, § 48;
Laws 2009, LB327, § 18;
Laws 2012, LB965, § 6;
Laws 2016, LB778, § 6;
Laws 2019, LB355, § 6.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-351.01 - Holder of contract; extension or deferment authorized; fee.

45-351.01.
Holder of contract; extension or deferment authorized; fee.
The holder of a retail installment contract may, upon agreement with the buyer:
(1) Extend the scheduled due date or defer the scheduled payment of any installment payment under the retail installment contract; and
(2) Charge and collect a reasonable flat service fee for such extension or deferment in addition to the time-price differential calculated for the period of such extension or deferment at the rate originally agreed upon in the retail installment contract on the outstanding balance.
Source
Laws 1994, LB 979, § 14.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-352 - Rules and regulations; adopt.

45-352.
Rules and regulations; adopt.
The director shall have the power to make such general rules and regulations and specific rulings, demands, and findings as may be necessary for the proper conduct of the business licensed under the Nebraska Installment Sales Act, and the enforcement of the act, in addition thereto and not inconsistent therewith.
Source
Laws 1965, c. 268, § 19, p. 767;
Laws 2007, LB124, § 38.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-353 - Violations; enforcement; receiver; appointment; powers; duties.

45-353.
Violations; enforcement; receiver; appointment; powers; duties.
(1) Whenever the director has reasonable cause to believe that any person is violating or is threatening to or intends to violate any of the provisions of the Nebraska Installment Sales Act, he or she may, in addition to all actions provided for in the act and without prejudice thereto, enter an order requiring such person to desist or to refrain from such violation. An action may also be brought, on the relation of the Attorney General or the director, to enjoin such person from engaging in or continuing such violation or from doing any act or acts in furtherance thereof.
(2) In any such action an order or judgment may be entered awarding such preliminary or final injunction as may be deemed proper. In addition to all other means provided by law for the enforcement of a restraining order or injunction, the court, in which such action is brought, shall have power and jurisdiction to impound and appoint a receiver for the property and business of the defendant, including books, papers, documents, and records pertaining thereto or so much thereof as the court may deem reasonably necessary to prevent violations of the Nebraska Installment Sales Act through or by means of the use of such property and business. Such receiver, when so appointed and qualified, shall have such powers and duties as to custody, collection, administration, winding up and liquidation of such property and business as shall, from time to time, be conferred upon him or her by the court.
Source
Laws 1965, c. 268, § 20, p. 767;
Laws 2007, LB124, § 39.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-355 - Nationwide Mortgage Licensing System and Registry; information sharing; director; powers.

45-355.
Nationwide Mortgage Licensing System and Registry; information sharing; 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 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, or other associations representing governmental agencies as established by adopting and promulgating rules and regulations or an order of the director.
Source
Laws 2012, LB965, § 9.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-356 - Acquisition of licensee; notice; filing fee; director; duties; disapproval; grounds; notice; hearing.

45-356.
Acquisition of licensee; notice; filing fee; director; duties; disapproval; grounds; notice; hearing.
(1) No person acting personally or as an agent shall acquire control of any licensee under the Nebraska Installment Sales Act without first (a) giving thirty days' notice to the department on a form prescribed by the department of such proposed acquisition and (b) paying a filing fee of one hundred fifty dollars and any processing fee allowed under subsection (2) of section 45-354.
(2) The director, upon receipt of such notice, shall act upon the acquisition within thirty days, and unless he or she disapproves of the proposed acquisition within such 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 party has not furnished all the information required by the department.
(3) An acquisition may become effective 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 character and general fitness of any acquiring person or of any of the proposed management personnel indicate that the acquired installment sales licensee would not be operated honestly, fairly, or efficiently within the purpose of the Nebraska Installment Sales Act; or
(iii) Any acquiring person neglects, fails, or refuses to furnish all information required by the department.
(b) The director shall notify the acquiring party in writing of disapproval of the acquisition. The notice shall provide a statement of the basis for the disapproval.
(c) Within fifteen business days after receipt of written notice of disapproval, the acquiring party may make a written request for a hearing on the proposed acquisition in accordance with the Administrative Procedure Act and rules and regulations adopted and promulgated by the department under the Administrative Procedure Act. The director shall, by order, approve or disapprove the proposed acquisition on the basis of the record made at the hearing.
Source
Laws 2016, LB778, § 7.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-601 - Act, how cited; collection agency; license required; violation; penalty; foreign agency; communication authorized.

45-601.
Act, how cited; collection agency; license required; violation; penalty; foreign agency; communication authorized.
Sections 45-601 to 45-622 shall be known and may be cited as the Collection Agency Act.
No person, firm, corporation, or association shall conduct or operate a collection agency or do a collection agency business as defined in the act until he, she, or it has secured a license as provided in the act. Any person, firm, corporation, or association conducting or operating such a collection agency or doing such a collection agency business without a license shall be guilty of a Class III misdemeanor for each day that such unlawful business is conducted. Any officer or agent of a firm, corporation, or association who personally participates in any violation of the act shall be guilty of a Class III misdemeanor.
Nothing contained in this section shall be construed to require a regular employee of a collection agency duly licensed as such in this state to procure a collection agency license.
Nothing in the act shall be construed to prohibit a person, firm, corporation, or association regulated as a collection agency in another state and residing in another state from communicating with a debtor in this state.
Source
Laws 1963, c. 500, § 1, p. 1592;
Laws 1977, LB 39, § 299;
R.S.1943, (1981), § 81-8,158;
Laws 1984, LB 471, § 1;
Laws 1993, LB 261, § 1;
Laws 2020, LB909, § 25.
Cross References
Exemptions from Credit Services Organization Act, see section 45-803.
Annotations
Failure to report and pay collections made within specified time justified revocation of license. State ex rel. Hartman v. Weiss, 181 Neb. 685, 150 N.W.2d 264 (1967).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-602 - Terms, defined.

45-602.
Terms, defined.
For purposes of the Collection Agency Act:
(1) Board means the Collection Agency Licensing Board;
(2) Collection agency means and includes:
(a) All persons, firms, corporations, and associations directly or indirectly engaged in soliciting, from more than one person, firm, corporation, or association, claims of any kind owed or due or asserted to be owed or due such solicited person, firm, corporation, or association, and all persons, firms, corporations, and associations directly or indirectly engaged in asserting, enforcing, or prosecuting such claims;
(b) Any person, firm, corporation, or association which, in attempting to collect or in collecting his, her, or its own accounts or claims, uses a fictitious name or any name other than his, her, or its own name which would indicate to the debtor that a third person is collecting or attempting to collect such account or claim; and
(c) Any person, firm, corporation, or association which attempts to or does give away or sell to any person, firm, corporation, or association, other than one licensed under the act, any system or series of letters or forms for use in the collection of accounts or claims which assert or indicate, directly or indirectly, that the claim or account is being asserted or collected by any other person, firm, corporation, or association other than the creditor or owner of the claim or demand;
(3) Collection agency does not mean or include (a) regular employees of a single creditor, (b) banks, (c) trust companies, (d) savings and loan associations, (e) building and loan associations, (f) abstract companies doing an escrow business, (g) duly licensed real estate brokers and agents when the claims or accounts being handled by such broker or agent are related to or are in connection with such brokers' or agents' regular real estate business, (h) express and telegraph companies subject to public regulation and supervision, (i) attorneys at law handling claims and collections in their own names and not operating a collection agency under the management of a layperson, (j) any person, firm, corporation, or association handling claims, accounts, or collections under an order or orders of any court, or (k) a person, firm, corporation, or association which, for valuable consideration, purchases accounts, claims, or demands of another and then, in such purchaser's own name, proceeds to assert or collect such accounts, claims, or demands; and
(4) 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.
Source
Laws 1963, c. 500, § 2, p. 1593;
R.S.1943, (1981), § 81-8,159;
Laws 1984, LB 471, § 2;
Laws 1993, LB 261, § 2;
Laws 2020, LB909, § 26.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-603 - Collection Agency Licensing Board; created; members; term; expenses; employees; Secretary of State; duties.

45-603.
Collection Agency Licensing Board; created; members; term; expenses; employees; Secretary of State; duties.
(1) There is hereby created the Collection Agency Licensing Board which shall consist of the Secretary of State, who shall be chairperson of the board, and four members appointed by the Governor. Three of the members appointed by the Governor shall be licensees actively engaged in the collection business in this state, one of whom shall reside in each of the state's three congressional districts. The remaining member shall be appointed at large as a representative of the public. Such person shall not be a licensee actively engaged in the collection business in this state.
(2) The term of office of each appointed member shall be for four years, except that of the members of the first board appointed under this section, two shall be appointed for a term of two years. Before a member's term expires, the Governor shall appoint a successor to take office on the expiration of the member's term. A member shall continue to serve after the expiration of his or her term until a successor is appointed and qualified. A vacancy in the office of a member shall be filled by appointment for the unexpired term.
(3) The members of the board shall be reimbursed for expenses as provided in sections 81-1174 to 81-1177.
(4) The board may employ such persons as may be necessary to carry out the Collection Agency Act, fix the salaries of such employees, and make such other expenditures as are necessary to properly carry out the act, except that all remuneration, expenses, salaries, and expenditures provided for in the act shall be paid out of the Secretary of State Cash Fund.
(5) The Secretary of State shall keep a record of all the proceedings, transactions, communications, and official acts performed pursuant to the act and perform such other duties as may be necessary to carry out the intent and purpose of the act.
Source
Laws 1963, c. 500, § 8, p. 1595;
R.S.1943, (1981), § 81-8,165;
Laws 1984, LB 471, § 4;
Laws 1989, LB 3, § 1;
Laws 1993, LB 261, § 3;
Laws 2020, LB381, § 37;
Laws 2020, LB910, § 13.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-604 - Board; adopt rules and regulations.

45-604.
Board; adopt rules and regulations.
The board may enact rules and regulations relating to the administration of, but not inconsistent with, the Collection Agency Act.
Source
Laws 1963, c. 500, § 8, p. 1595;
R.S.1943, (1981), § 81-8,165;
Laws 1984, LB 471, § 4;
Laws 1993, LB 261, § 4.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-605 - Board; duties; application for license; filing; issuance; denial; appeal.

45-605.
Board; duties; application for license; filing; issuance; denial; appeal.
The board shall be responsible for the administration of the Collection Agency Act. All applications for licenses provided for in the act shall be made to the board. If the applicant is an individual, the application shall include the applicant's social security number. The board shall investigate the qualifications of each applicant for a license. Based on the results of the investigation, the board may either issue a license to the applicant upon the payment of the license fee and any processing fee allowed under section 45-605.01 and the furnishing of the bond provided for in section 45-608 or refuse to issue such license. The action of the board may be appealed, and the appeal shall be in accordance with the Administrative Procedure Act.
Source
Laws 1963, c. 500, § 9, p. 1595;
R.S.1943, (1981), § 81-8,166;
Laws 1984, LB 471, § 5;
Laws 1988, LB 352, § 75;
Laws 1993, LB 261, § 5;
Laws 1997, LB 752, § 117;
Laws 2020, LB909, § 27.
Cross References
Administrative Procedure Act, see section 84-920.