reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2312 - Branch trust office; representative trust office; director; powers.

8-2312.
Branch trust office; representative trust office; director; powers.
(1) The director may examine any branch trust office or representative trust office established and maintained in this state by any out-of-state state trust company as he or she deems necessary to determine whether the branch trust office or representative trust office is being operated in compliance with Nebraska law and in accordance with safe and sound practices.
(2) The director may prescribe requirements for periodic reports by an out-of-state trust company that operates branch trust offices or representative trust offices pursuant to the Interstate Trust Company Office Act. Any such reporting requirements shall be consistent with the reporting requirements applicable to Nebraska trust companies and appropriate for the purpose of enabling the director to carry out his or her responsibilities under the act.
(3) The director may enter into cooperative, coordinating, and information-sharing agreements with any other trust company supervisory agency that has concurrent jurisdiction over a Nebraska state-chartered trust company or an out-of-state state trust company operating a branch trust office or representative trust office in this state to engage the services of such supervisory agency's examiners or to provide the services of department examiners to such supervisory agency.
(4) The director may enter into joint examinations or joint enforcement actions with other trust company supervisory agencies having concurrent jurisdiction over any branch trust office or representative trust office of an out-of-state state trust company or any branch trust office or representative trust office of a Nebraska state-chartered trust company in any host state. The director may, at any time, take such actions independently if he or she deems such actions to be necessary or appropriate to carry out his or her responsibilities under the act or to ensure compliance with Nebraska law. In the case of an out-of-state state trust company, the director shall recognize the exclusive jurisdiction of the home state regulator over corporate government matters and the primary responsibility of the home state regulator with respect to safety and soundness matters.
(5) The cost of any examination conducted under this section shall be assessed against the out-of-state state trust company in the manner set forth in sections 8-605 and 8-606 and paid for by the out-of-state state trust company.
Source
Laws 1998, LB 1321, § 65;
Laws 2007, LB124, § 18.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2313 - Act, how construed.

8-2313.
Act, how construed.
Nothing in the Interstate Trust Company Office Act shall be construed to authorize any Nebraska trust company or any out-of-state trust company to conduct the general business of banking at any branch trust office or representative trust office.
Source
Laws 1998, LB 1321, § 66.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2401 - Formation; conditions.

8-2401.
Formation; conditions.
A credit card bank may be formed under the Nebraska Banking Act if all of the following conditions are met:
(1) A credit card bank shall not accept demand deposits or deposits that the depositor may withdraw by check or similar means for payment to third parties;
(2) A credit card bank may not accept any savings or time deposits of less than one hundred thousand dollars, except that savings or time deposits of any amount may be accepted from affiliated financial institutions;
(3) The services of a credit card bank shall be limited to the solicitation, processing, and making of loans instituted by credit card or transaction card and matters relating or incidental thereto;
(4) A credit card bank shall not make commercial loans;
(5) A credit card bank shall, on the date of commencement of banking business in this state, have a minimum capital stock and paid-in surplus of two million five hundred thousand dollars;
(6) A credit card bank shall (a) employ on the date of commencement of its banking business in this state or within one year after such date not less than fifty persons in this state in its business or (b) contract with a qualifying association as defined in subdivision (4) of section 8-1511 to provide for the processing of its credit card or transaction card operations;
(7) A credit card bank shall maintain only one office that accepts deposits;
(8) A credit card bank may maintain one or more processing centers in this state;
(9) A credit card bank shall operate in a manner and at a location that is not likely to attract customers from the general public in this state to the substantial detriment of existing financial institutions as defined in section 8-101.03 located in this state; and
(10) A credit card bank shall provide for the insurance of deposits as described in subsection (1) of section 8-702.
Source
Laws 2004, LB 999, § 17;
Laws 2005, LB 533, § 24;
Laws 2017, LB140, § 146.
Cross References
Nebraska Banking Act, see section 8-101.02.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2402 - Charter; grant; when.

8-2402.
Charter; grant; when.
The Department of Banking and Finance may grant a charter to transact the business of a credit card bank if the Director of Banking and Finance is satisfied that the applicant has met the conditions set forth in section 8-2401 and the Nebraska Banking Act as to the formation of a new bank.
Source
Laws 2004, LB 999, § 18.
Cross References
Nebraska Banking Act, see section 8-101.02.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2403 - Provisions applicable.

8-2403.
Provisions applicable.
A credit card bank shall be subject to the Interstate Branching and Merger Act, the Nebraska Bank Holding Company Act of 1995, the Nebraska Banking Act, and Chapter 8, articles 5, 6, 7, 8, 13, 14, 15, 16, 19, and 20, unless otherwise limited or excluded or the context otherwise requires.
Source
Laws 2004, LB 999, § 19;
Laws 2012, LB963, § 21.
Cross References
Interstate Branching and Merger Act, see section 8-2101.
Nebraska Bank Holding Company Act of 1995, see section 8-908.
Nebraska Banking Act, see section 8-101.02.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2501 - Written solicitation; restrictions.

8-2501.
Written solicitation; restrictions.
(1) Except as provided in section 8-2503, no person shall include the name, trade name, logo, or symbol of a financial institution in a written solicitation for financial products or services directed to a consumer who has obtained a loan from the financial institution without the consent of the financial institution, unless the solicitation clearly and conspicuously states that the person is not sponsored by or affiliated with the financial institution and that the solicitation is not authorized by the financial institution, which shall be identified by name. The statement shall be made in close proximity to, and in the same or larger font size as, the first and most prominent use or uses of the name, trade name, logo, or symbol in the statement, including on an envelope or through an envelope window containing the statement.
(2) No person shall use the name of a financial institution or a name similar to that of a financial institution in a written solicitation for financial products or services directed to consumers, if that use could cause a reasonable person to be confused, mistaken, or deceived initially or otherwise as to either of the following:
(a) The financial institution's sponsorship, affiliation, connection, or association with the person using the name; or
(b) The financial institution's approval or endorsement of the person using the name or the person's products or services.
Source
Laws 2005, LB 533, § 25.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2502 - Written solicitation; restriction on use of loan information; exception.

8-2502.
Written solicitation; restriction on use of loan information; exception.
Except as provided in section 8-2503, no person shall include a consumer's loan number, loan amount, or other specific loan information, whether or not publicly available, in a written solicitation for products or services without the consent of the consumer, unless the solicitation clearly and conspicuously states, when applicable, that the person is not sponsored by or affiliated with the financial institution, that the statement is not authorized by the financial institution, and that the consumer's loan information was not provided to that person by the financial institution. The statement shall be made in close proximity to, and in the same or larger font as, the first and the most prominent use or uses of the consumer's loan information in the statement, including on an envelope or through an envelope window containing the statement. The prohibition in this section does not apply to communications by a financial institution or any of its affiliates, subsidiaries, or agents with a current customer of the financial institution or with a person who has been a customer of the financial institution.
Source
Laws 2005, LB 533, § 26.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2503 - Advertisement or written solicitation; comparison authorized.

8-2503.
Advertisement or written solicitation; comparison authorized.
It is not a violation of section 8-2501 or 8-2502 for a person in an advertisement or written solicitation for products or services to use the name, trade name, logo, or symbol of a financial institution without the statement described in section 8-2501 or 8-2502, if that use is exclusively part of a comparison of like products or services in which the person clearly and conspicuously identifies itself. Nothing in section 8-2501 or 8-2502 shall be deemed or interpreted to alter or modify the trade name and trademark laws of this state.
Source
Laws 2005, LB 533, § 27.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2504 - Violation; cease and desist order; fine.

8-2504.
Violation; cease and desist order; fine.
(1) The Department of Banking and Finance may order any person to cease and desist whenever the Director of Banking and Finance determines that such person has violated section 8-2501 or 8-2502. Upon entry of a cease and desist order, the director shall promptly notify the affected person that such order has been entered and provide opportunity for hearing in accordance with the Administrative Procedure Act.
(2) If a person violates section 8-2501 or 8-2502 after receiving such cease and desist order, the director may, following notice and opportunity for hearing in accordance with the Administrative Procedure Act, impose a fine of up to one thousand dollars for each violation, plus the costs of investigation. Each instance in which a violation of section 8-2501 or 8-2502 takes place after receiving a cease and desist order constitutes a separate violation.
(3) The director shall remit all fines collected under this section to the State Treasurer for distribution in accordance with Article VII, section 5, of the Constitution of Nebraska. All costs collected shall be remitted to the Financial Institution Assessment Cash Fund.
(4) This section does not affect the availability of any remedies otherwise available to a financial institution.
Source
Laws 2005, LB 533, § 28;
Laws 2007, LB124, § 19.
Cross References
Administrative Procedure Act, see section 84-920.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2505 - Financial institution, defined.

8-2505.
Financial institution, defined.
For purposes of sections 8-2501 to 8-2504, financial institution means a state or federally chartered bank, savings and loan association, savings bank, or credit union or any affiliate, subsidiary, or agent thereof.
Source
Laws 2005, LB 533, § 29.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2601 - Act, how cited.

8-2601.
Act, how cited.
Sections 8-2601 to 8-2615 shall be known and may be cited as the Credit Report Protection Act.
Source
Laws 2007, LB674, § 1;
Laws 2016, LB835, § 1.
Cross References
Consumer reporting agency, duty to furnish information to consumer, see section 20-149.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2603 - Security freeze; request.

8-2603.
Security freeze; request.
A consumer may elect to place a security freeze on his or her file by submitting a request at the address or other point of contact and in the manner specified by the consumer reporting agency.
Source
Laws 2007, LB674, § 3;
Laws 2016, LB835, § 3.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2603.01 - Protected consumer; security freeze; request; creation of record for protected consumer; placement of freeze.

8-2603.01.
Protected consumer; security freeze; request; creation of record for protected consumer; placement of freeze.
(1) A consumer reporting agency shall place a security freeze for a protected consumer if:
(a) The consumer reporting agency receives a request from the representative for the placement of the security freeze under this section; and
(b) The representative:
(i) Submits the request to the consumer reporting agency at the address or other point of contact and in the manner specified by the consumer reporting agency; and
(ii) Provides to the consumer reporting agency:
(A) Sufficient proof of identification of the protected consumer and the representative; and
(B) Sufficient proof of authority to act on behalf of the protected consumer.
(2) If a consumer reporting agency does not have a file pertaining to a protected consumer when the consumer reporting agency receives a request described in subdivision (1)(a) of this section, the consumer reporting agency shall create a record for the protected consumer.
(3) Within thirty days after receiving a request that meets the requirements of this section, a consumer reporting agency shall place a security freeze for the protected consumer.
Source
Laws 2016, LB835, § 4;
Laws 2018, LB757, § 2.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2604 - Consumer reporting agency; release of credit report or other information prohibited without authorization.

8-2604.
Consumer reporting agency; release of credit report or other information prohibited without authorization.
If a security freeze is in place with respect to a consumer's or protected consumer's file, the consumer reporting agency shall not release a credit report or any other information derived from the file to a third party without the prior express authorization of the consumer, protected consumer, or representative. This section does not prevent a consumer reporting agency from advising a third party that a security freeze is in effect with respect to a consumer's or protected consumer's file.
Source
Laws 2007, LB674, § 4;
Laws 2016, LB835, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2605 - Consumer reporting agency; placement of security freeze; when; written confirmation to consumer.

8-2605.
Consumer reporting agency; placement of security freeze; when; written confirmation to consumer.
(1) A consumer reporting agency shall place a security freeze on a file no later than three business days after receiving a request under section 8-2603.
(2) Until July 1, 2008, a consumer reporting agency shall, within ten business days after receiving a request under section 8-2603, send a written confirmation of the security freeze to the consumer and provide the consumer with a unique personal identification number or password to be used by the consumer when providing authorization for the release of a credit report or any other information derived from his or her file for a specified period of time. Beginning July 1, 2008, a consumer reporting agency shall send such confirmation and provide such identification number or password to the consumer within five business days after receiving a request under section 8-2603.
(3) The written confirmation required under subsection (2) of this section shall include a warning which shall read as follows: WARNING TO PERSONS SEEKING A CREDIT FREEZE AS PERMITTED BY THE CREDIT REPORT PROTECTION ACT: YOU MAY BE DENIED CREDIT AS A RESULT OF A FREEZE PLACED ON YOUR CREDIT.
Source
Laws 2007, LB674, § 5;
Laws 2016, LB835, § 6.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2607 - Security freeze; duration; consumer reporting agency; place hold on file; release; notice; temporarily lift security freeze; removal of freeze; request from consumer.

8-2607.
Security freeze; duration; consumer reporting agency; place hold on file; release; notice; temporarily lift security freeze; removal of freeze; request from consumer.
(1) A security freeze shall remain in place, subject to being put on hold or temporarily lifted as otherwise provided in this section, until the consumer reporting agency receives a request from the consumer to remove the freeze under section 8-2608.
(2) A consumer reporting agency may place a hold on a file due to a material misrepresentation of fact by the consumer. When a consumer reporting agency intends to release a hold on a file, the consumer reporting agency shall notify the consumer in writing three business days prior to releasing the hold on the file.
(3) A consumer reporting agency shall temporarily lift a security freeze only upon request by the consumer under section 8-2606.
(4) A consumer reporting agency shall remove a security freeze upon the date that the consumer reporting agency receives a request from the consumer to remove the freeze under section 8-2608.
Source
Laws 2007, LB674, § 7;
Laws 2009, LB177, § 2.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2608 - Consumer reporting agency; mandatory removal of security freeze; conditions.

8-2608.
Consumer reporting agency; mandatory removal of security freeze; conditions.
A consumer reporting agency shall remove a security freeze placed under section 8-2603 within three business days after receiving a request for removal from the consumer who provides both of the following:
(1) Sufficient proof of identity of the consumer; and
(2) The unique personal identification number or password referred to in subdivision (2)(b) of section 8-2606.
Source
Laws 2007, LB674, § 8;
Laws 2016, LB835, § 8.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2608.01 - Protected consumer; security freeze; duration; consumer reporting agency; restrictions on release of information.

8-2608.01.
Protected consumer; security freeze; duration; consumer reporting agency; restrictions on release of information.
A security freeze for a protected consumer shall remain in effect unless removed in accordance with section 8-2608.02 or 8-2608.03. A consumer reporting agency may not release the protected consumer’s credit report, any information derived from the protected consumer’s credit report, or any record created for the protected consumer.
Source
Laws 2016, LB835, § 9.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2608.02 - Protected consumer; removal of security freeze; request.

8-2608.02.
Protected consumer; removal of security freeze; request.
If a protected consumer or the representative wishes to remove a security freeze placed under section 8-2603.01 for the protected consumer, the protected consumer or the representative shall:
(1) Submit a request for the removal of the security freeze to the consumer reporting agency at the address or other point of contact and in the manner specified by the consumer reporting agency; and
(2) Provide to the consumer reporting agency:
(a) In the case of a request by the protected consumer:
(i) Proof that the sufficient proof of authority for the representative to act on behalf of the protected consumer is no longer valid; and
(ii) Sufficient proof of identification of the protected consumer; or
(b) In the case of a request by the representative:
(i) Sufficient proof of identification of the protected consumer and the representative; and
(ii) Sufficient proof of authority to act on behalf of the protected consumer.
Within thirty days after receiving a request that meets the requirements of this section, the consumer reporting agency shall remove the security freeze for the protected consumer.
Source
Laws 2016, LB835, § 10;
Laws 2018, LB757, § 3.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2608.03 - Protected consumer; remove security freeze; delete record of protected consumer; when.

8-2608.03.
Protected consumer; remove security freeze; delete record of protected consumer; when.
A consumer reporting agency may remove a security freeze for a protected consumer or delete a record of a protected consumer if the security freeze was placed or the record was created based on a material misrepresentation of fact by the protected consumer or the protected consumer’s representative.
Source
Laws 2016, LB835, § 11.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2609 - Consumer reporting agency; power with respect to fees.

8-2609.
Consumer reporting agency; power with respect to fees.
(1) A consumer reporting agency shall not charge any fee for placing, temporarily lifting, or removing a security freeze placed under section 8-2603 or for placing, temporarily lifting, or removing any other substantially similar type of security product. This subsection does not apply if the substantially similar type of security product, alone or in combination with another product, provides greater protection to the consumer than a security freeze.
(2) A consumer reporting agency shall reissue the same or a new personal identification number or password required under section 8-2605 one time without charge and may charge a fee of no more than five dollars for subsequent reissuance of the personal identification number or password.
Source
Laws 2007, LB674, § 9;
Laws 2009, LB177, § 3;
Laws 2016, LB835, § 12;
Laws 2018, LB757, § 4.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2609.01 - Protected consumer; consumer reporting agency; power with respect to fees.

8-2609.01.
Protected consumer; consumer reporting agency; power with respect to fees.
A consumer reporting agency shall not charge any fee for placement or removal of a security freeze or for placement or removal of any other substantially similar type of security product for a protected consumer. This section does not apply if the substantially similar type of security product, alone or in combination with another product, provides greater protection to the protected consumer than a security freeze.
Source
Laws 2016, LB835, § 13;
Laws 2018, LB757, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2610 - Consumer reporting agency; changes to official information in file; written confirmation required; exceptions.

8-2610.
Consumer reporting agency; changes to official information in file; written confirmation required; exceptions.
If a security freeze is in place, a consumer reporting agency may not change any of the following official information in a file without sending a written confirmation of the change to the consumer, protected consumer, or representative within thirty days after the change is made: Name, date of birth, social security number, and address. In the case of an address change, the written confirmation shall be sent to both the new address and the former address. Written confirmation is not required for technical modifications of a consumer's or protected consumer's official information, including name and street abbreviations, complete spellings, or transposition of numbers or letters.
Source
Laws 2007, LB674, § 10;
Laws 2016, LB835, § 14.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2611 - Consumer reporting agency; restrictions with respect to third parties; request by third party; how treated.

8-2611.
Consumer reporting agency; restrictions with respect to third parties; request by third party; how treated.
(1) A consumer reporting agency may not suggest or otherwise state or imply to a third party that a security freeze on a consumer's or protected consumer's file reflects a negative credit score, history, report, or rating.
(2) If a third party requests access to a credit report or any other information derived from a file in connection with an application for credit or the opening of an account and the consumer, protected consumer, or representative has placed a security freeze on his or her file and does not allow his or her file to be accessed during that specified period of time, the third party may treat the application as incomplete.
Source
Laws 2007, LB674, § 11;
Laws 2016, LB835, § 15.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2612 - Consumer reporting agency; information furnished to governmental agency.

8-2612.
Consumer reporting agency; information furnished to governmental agency.
The Credit Report Protection Act does not prohibit a consumer reporting agency from furnishing to a governmental agency a consumer's or protected consumer's name, address, former address, place of employment, or former place of employment.
Source
Laws 2007, LB674, § 12;
Laws 2016, LB835, § 16.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2613 - Act; use of credit report or information derived from file; applicability.

8-2613.
Act; use of credit report or information derived from file; applicability.
The Credit Report Protection Act does not apply to the use of a credit report or any information derived from the file by any of the following:
(1) A person or entity, a subsidiary, affiliate, or agent of that person or entity, an assignee of a financial obligation owing by the consumer or protected consumer to that person or entity, or a prospective assignee of a financial obligation owing by the consumer or protected consumer to that person or entity in conjunction with the proposed purchase of the financial obligation, with which the consumer or protected consumer has or had prior to assignment an account or contract, including a demand deposit account, or to whom the consumer or protected consumer issued a negotiable instrument, for the purposes of reviewing the account or collecting the financial obligation owing for the account, contract, or negotiable instrument. For purposes of this subdivision, reviewing the account includes activities related to account maintenance, monitoring, credit line increases, and account upgrades and enhancements;
(2) A subsidiary, affiliate, agent, assignee, or prospective assignee of a person to whom access has been granted under section 8-2606 for purposes of facilitating the extension of credit or other permissible use;
(3) Any federal, state, or local governmental entity, including, but not limited to, a law enforcement agency, a court, or an agent or assignee of a law enforcement agency or court;
(4) A private collection agency acting under a court order, warrant, or subpoena;
(5) Any person or entity for the purposes of prescreening as provided for by the federal Fair Credit Reporting Act, 15 U.S.C. 1681, as such act existed on September 1, 2007;
(6) Any person or entity administering a credit file monitoring subscription service to which the consumer or protected consumer has subscribed;
(7) Any person or entity for the purpose of providing a consumer, protected consumer, or representative with a copy of the consumer's or protected consumer's credit report or any other information derived from his or her file upon the consumer's, protected consumer's, or representative's request; and
(8) Any person or entity for use in setting or adjusting a rate, adjusting a claim, or underwriting for insurance purposes.
Source
Laws 2007, LB674, § 13;
Laws 2016, LB835, § 17.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2614 - Entities not considered consumer reporting agencies; not required to place security freeze on file.

8-2614.
Entities not considered consumer reporting agencies; not required to place security freeze on file.
The following entities are not consumer reporting agencies for purposes of the Credit Report Protection Act and are not required to place a security freeze under section 8-2603 or 8-2603.01:
(1) A check services or fraud prevention services company that issues reports on incidents of fraud or authorizations for the purpose of approving or processing negotiable instruments, electronic funds transfers, or similar methods of payment;
(2) A deposit account information service company that issues reports regarding account closures due to fraud, substantial overdrafts, automatic teller machine abuse, or similar negative information regarding a consumer or protected consumer, to inquiring banks or other financial institutions for use only in reviewing a consumer's, protected consumer's, or representative's request for a deposit account at the inquiring bank or financial institution; and
(3) A consumer reporting agency that acts only as a reseller of credit information by assembling and merging information contained in the database of another consumer reporting agency, or multiple consumer reporting agencies, and does not maintain a permanent database of credit information from which new credit reports are produced. A consumer reporting agency shall honor any security freeze placed on a file by another consumer reporting agency.
Source
Laws 2007, LB674, § 14;
Laws 2016, LB835, § 18.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2614.01 - Protected consumer provisions; applicability.

8-2614.01.
Protected consumer provisions; applicability.
Sections 8-2603.01, 8-2608.01, 8-2608.02, 8-2608.03, and 8-2609.01 shall not apply to any person or entity that maintains a database used solely for the following:
(1) Criminal record information;
(2) Personal loss history information;
(3) Fraud prevention or detection;
(4) Employment screening; or
(5) Tenant screening.
Source
Laws 2016, LB835, § 19.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2615 - Enforcement of act; Attorney General; powers and duties; violation; civil penalty; recovery of damages.

8-2615.
Enforcement of act; Attorney General; powers and duties; violation; civil penalty; recovery of damages.
The Attorney General shall enforce the Credit Report Protection Act. For purposes of the act, the Attorney General may issue subpoenas, adopt and promulgate rules and regulations, and seek injunctive relief and a monetary award for civil penalties, attorney's fees, and costs. Any person who violates the act shall be subject to a civil penalty of not more than two thousand dollars for each violation. The Attorney General may also seek and recover actual damages for each consumer or protected consumer injured by a violation of the act.
Source
Laws 2007, LB674, § 15;
Laws 2016, LB835, § 20.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2701 - Act, how cited.

8-2701.
Act, how cited.
Sections 8-2701 to 8-2747 shall be known and may be cited as the Nebraska Money Transmitters Act.
Source
Laws 2013, LB616, § 1;
Laws 2016, LB778, § 1.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2704 - Authorized delegate, defined.

8-2704.
Authorized delegate, defined.
Authorized delegate means an entity designated by the licensee or an exempt entity under the Nebraska Money Transmitters Act to engage in the business of money transmission on behalf of the licensee or exempt entity.
Source
Laws 2013, LB616, § 4.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2705 - Breach of security of the system, defined.

8-2705.
Breach of security of the system, defined.
Breach of security of the system means unauthorized acquisition of data that compromises the security, confidentiality, or integrity of the information maintained by the Nationwide Mortgage Licensing System and Registry, its affiliates, or its subsidiaries.
Source
Laws 2013, LB616, § 5.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2706 - Control, defined.

8-2706.
Control, defined.
Control means the power, directly or indirectly, to direct the management or policies of a licensee, whether through ownership of securities, by contract, or otherwise. Any person who (1) has the power to elect a majority of executive officers, managers, directors, trustees, or other persons exercising managerial authority of a licensee or any person in control of a licensee, (2) directly or indirectly has the right to vote ten percent or more of a class of stock or directly or indirectly has the power to sell or direct the sale of ten percent or more of a class of stock, (3) in the case of a limited liability company, is a managing member, or (4) in the case of a partnership, has the right to receive, upon dissolution, or has contributed, ten percent or more of the capital, is presumed to control that licensee.
Source
Laws 2013, LB616, § 6.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2710 - Electronic instrument, defined.

8-2710.
Electronic instrument, defined.
Electronic instrument means a card or other tangible object for the transmission or payment of money that contains a microprocessor chip, magnetic strip, or other means for the storage of information, that is prefunded, and the value of which is decremented upon each use. Electronic instrument does not include a card or other tangible object that is redeemable by the issuer or its affiliates in goods or services of the issuer or its affiliates.
Source
Laws 2013, LB616, § 10.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2714 - Material litigation, defined.

8-2714.
Material litigation, defined.
Material litigation means any litigation that, according to generally accepted accounting principles, is deemed significant to an applicant's or licensee's financial health and would be required to be referenced in an applicant's or licensee's annual audited financial statements, report to shareholders, or similar documents.
Source
Laws 2013, LB616, § 14.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2716 - Money transmission, defined.

8-2716.
Money transmission, defined.
Money transmission means the business of the sale or issuance of payment instruments or stored value or of receiving money or monetary value for transmission to a location within or outside the United States by any and all means, including wire, facsimile, or electronic transfer. Notwithstanding any other provision of law, money transmission also includes bill payment services not limited to the right to receive payment of any claim for another but does not include bill payment services in which an agent of a payee receives money or monetary value on behalf of such payee.
Source
Laws 2013, LB616, § 16.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2717 - Nationwide Mortgage Licensing System and Registry, defined.

8-2717.
Nationwide Mortgage Licensing System and Registry, defined.
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 2013, LB616, § 17.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2718 - Outstanding payment instrument, defined.

8-2718.
Outstanding payment instrument, defined.
Outstanding payment instrument means any payment instrument issued by a licensee which has been sold in the United States directly by the licensee or any payment instrument issued by a licensee which has been sold by an authorized delegate of the licensee in the United States, which has been reported to the licensee as having been sold, and which has not yet been paid by or for the licensee.
Source
Laws 2013, LB616, § 18.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2719 - Payment instrument, defined.

8-2719.
Payment instrument, defined.
Payment instrument means any electronic or written check, draft, money order, travelers check, or other electronic or written instrument or order for the transmission or payment of money, sold or issued to one or more persons, whether or not such instrument is negotiable. Payment instrument does not include any credit card, any voucher, any letter of credit, or any instrument that is redeemable by the issuer or its affiliates in goods or services of the issuer or its affiliates.
Source
Laws 2013, LB616, § 19.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2720 - Permissible investments, defined.

8-2720.
Permissible investments, defined.
Permissible investments means:
(1) Cash;
(2) Certificates of deposit or other debt obligations of a financial institution, either domestic or foreign;
(3) Bills of exchange or time drafts drawn on and accepted by a commercial bank, otherwise known as bankers' acceptances, which are eligible for purchase by member banks of the federal reserve system;
(4) Any investment bearing a rating of one of the three highest grades as defined by a nationally recognized organization that rates such securities;
(5) Investment securities that are obligations of the United States or its agencies or instrumentalities, obligations that are guaranteed fully as to principal and interest by the United States, or any obligations of any state or political subdivision thereof;
(6) Shares in a money market mutual fund, interest-bearing bills or notes or bonds, debentures or stock traded on any national securities exchange or on a national over-the-counter market, or mutual funds primarily composed of such securities or a fund composed of one of more permissible investments as set forth in this section;
(7) Any demand borrowing agreement or agreements made to a corporation or a subsidiary of a corporation whose capital stock is listed on a national exchange;
(8) Receivables that are due to a licensee from its authorized delegates pursuant to a contract described in section 8-2739 which are not past due or doubtful of collection; or
(9) Any other investment or similar security approved by the director.
Source
Laws 2013, LB616, § 20.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2722 - Remit, defined.

8-2722.
Remit, defined.
Remit, except as used in section 8-2747, means either to make direct payment of the funds to a licensee or its representatives authorized to receive those funds or to deposit the funds in a bank, credit union, or savings and loan association or other similar financial institution in an account specified by a licensee.
Source
Laws 2013, LB616, § 22.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2723 - Stored value, defined.

8-2723.
Stored value, defined.
Stored value means monetary value that is evidenced by an electronic record. Stored value does not include any item that is redeemable by the issuer or its affiliates in goods or services of the issuer or its affiliates.
Source
Laws 2013, LB616, § 23.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2724 - Licensure requirement; applicability.

8-2724.
Licensure requirement; applicability.
(1) The requirement for a license under the Nebraska Money Transmitters Act does not apply to:
(a) The United States or any department, agency, or instrumentality thereof;
(b) Any post office of the United States Postal Service;
(c) A state or any political subdivision thereof;
(d)(i) Banks, credit unions, digital asset depository institutions as defined in section 8-3003, building and loan associations, savings and loan associations, savings banks, or mutual banks organized under the laws of any state or the United States;
(ii) Subsidiaries of the institutions listed in subdivision (d)(i) of this subsection;
(iii) Bank holding companies which have a banking subsidiary located in Nebraska and whose debt securities have an investment grade rating by a national rating agency; or
(iv) Authorized delegates of the institutions and entities listed in subdivision (d)(i), (ii), or (iii) of this subsection, except that authorized delegates that are not banks, credit unions, building and loan associations, savings and loan associations, savings banks, mutual banks, subsidiaries of any of the foregoing, or bank holding companies shall comply with all requirements imposed upon authorized delegates under the act;
(e) The provision of electronic transfer of government benefits for any federal, state, or county governmental agency, as defined in Consumer Financial Protection Bureau Regulation E, 12 C.F.R. part 1005, as such regulation existed on January 1, 2023, by a contractor for and on behalf of the United States or any department, agency, or instrumentality thereof or any state or any political subdivision thereof;
(f) An operator of a payment system only to the extent that the payment system provides processing, clearing, or settlement services between or among persons who are all exempt under this section in connection with wire transfers, credit card transactions, debit card transactions, automated clearinghouse transfers, or similar fund transfers; or
(g) A person, firm, corporation, or association licensed in this state and acting within this state within the scope of a license:
(i) As a collection agency pursuant to the Collection Agency Act;
(ii) As a credit services organization pursuant to the Credit Services Organization Act; or
(iii) To engage in the debt management business pursuant to sections 69-1201 to 69-1217.
(2) An authorized delegate of a licensee or of an exempt entity, acting within the scope of its authority conferred by a written contract as described in section 8-2739, is not required to obtain a license under the Nebraska Money Transmitters Act, except that such an authorized delegate shall comply with the other provisions of the act which apply to money transmission transactions.
Source
Laws 2013, LB616, § 24;
Laws 2021, LB363, § 17;
Laws 2021, LB649, § 48;
Laws 2022, LB707, § 25;
Laws 2023, LB92, § 17.
Operative Date: June 7, 2023
Cross References
Collection Agency Act, see section 45-601.
Credit Services Organization Act, see section 45-801.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2725 - License required; license not transferable or assignable.

8-2725.
License required; license not transferable or assignable.
(1) Except as otherwise provided in section 8-2724, a person shall not engage in money transmission without a license issued pursuant to the Nebraska Money Transmitters Act.
(2) A person is engaged in money transmission if the person provides money transmission services to any resident of this state even if the person providing money transmission services has no physical presence in this state or if the resident is not physically located in this state at the time when the resident enters into money transmission or otherwise receives money transmission services.
(3) If a licensee has a physical presence in this state, the licensee may conduct its business at one or more locations, directly or indirectly owned, or through one or more authorized delegates, or both, pursuant to the single license granted to the licensee.
(4) A license issued pursuant to the act is not transferable or assignable.
Source
Laws 2013, LB616, § 25;
Laws 2021, LB363, § 18.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2726 - License; applicant; qualifications; requirements.

8-2726.
License; applicant; qualifications; requirements.
To qualify for a license under the Nebraska Money Transmitters Act, an applicant, at the time of filing for a license, and a licensee at all times after a license is issued, shall satisfy the following requirements:
(1) Each applicant or licensee must have a net worth of not less than fifty thousand dollars, calculated in accordance with generally accepted accounting principles;
(2) The financial condition and responsibility, financial and business experience, and character and general fitness of the applicant or licensee must reasonably warrant the belief that the applicant's or licensee's business will be conducted honestly, fairly, and in a manner commanding the confidence and trust of the community. In determining whether this requirement is met and for purposes of investigating compliance with the act, the director may review and consider the relevant business records and capital adequacy of the applicant or licensee;
(3) Each corporate applicant or licensee must be organized under the laws of any state of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, or the Northern Mariana Islands, and must be in good standing in the place of its incorporation;
(4) Each applicant or licensee must be registered or qualified to do business in the State of Nebraska; and
(5) Each applicant or licensee must maintain an office in the United States.
Source
Laws 2013, LB616, § 26;
Laws 2021, LB363, § 19.
2023 Nebraska Revised Statutes › Chapter 8 - Banks and Banking › 8-2728 - Licensee; investments required; waiver.

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