reglab/statecodes huggingface dataset:
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-9406 - Disclosures to consumers; required; when; manner.

44-9406.
Disclosures to consumers; required; when; manner.
(1) Prior to the sale of an innovative insurance product or service to a consumer, the sandbox participant shall disclose the following to the consumer in a clear and conspicuous format in English and Spanish:
(a) The name and contact information of the sandbox participant;
(b) That the innovative insurance product or service is authorized pursuant to the Insurance Regulatory Sandbox Act for a temporary period of one year with a possible extension of one additional year, but for no more than two years;
(c) Any risk to the consumer associated with the purchase of the innovative insurance product or service;
(d) That neither the State of Nebraska nor the Department of Insurance recommends the innovative insurance product or service and that neither the state nor the department is subject to any liability for losses or damages caused by such product or service;
(e) That the consumer may contact the Department of Insurance to file a complaint regarding the innovative insurance product or service. Contact information for the Department of Insurance shall also be provided;
(f) That state insurance insolvency guaranty funds are not available for the innovative insurance product or service; and
(g) Any other statements or additional disclosures that may be required by the Department of Insurance.
(2) The disclosures required by subsection (1) of this section shall be provided to consumers through a written disclosure statement. Sandbox participants shall keep a signed copy of the disclosure statement on file and be able to produce the statement for the department upon request.
(3) Sandbox participants shall also note on any websites, social media postings, advertisements, and promotional materials of any kind all potential risks for consumers associated with the purchase of the innovative insurance product or service.
Source
Laws 2023, LB92, § 93.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-9407 - Sandbox testing period; termination or extension; requirements.

44-9407.
Sandbox testing period; termination or extension; requirements.
(1) At least thirty days before the end of the twelve-month regulatory sandbox testing period, a sandbox participant shall:
(a) Notify the department that the sandbox participant will exit the regulatory sandbox, discontinue the sandbox participant's test, and stop offering any innovative insurance product or service in the regulatory sandbox within sixty days after the day on which the twelve-month testing period ends; or
(b) Seek an extension in accordance with section 44-9408.
(2) Subject to subsection (3) of this section, if the department does not receive notification as required by subsection (1) of this section, the regulatory sandbox testing period ends at the end of the twelve-month testing period and the sandbox participant shall immediately stop offering each innovative insurance product or service being tested.
(3) If a test includes offering an innovative insurance product or service that requires ongoing duties, the sandbox participant shall continue to fulfill those duties or arrange for another person to fulfill those duties after the date on which the sandbox participant exits the regulatory sandbox.
Source
Laws 2023, LB92, § 94.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-9408 - Sandbox testing period; extension; request; requirements.

44-9408.
Sandbox testing period; extension; request; requirements.
(1) Not later than thirty days before the end of the twelve-month regulatory sandbox testing period, a sandbox participant may request an extension of the regulatory sandbox testing period for the purpose of obtaining a license or other authorization.
(2) The department shall grant or deny a request for an extension by the end of the twelve-month regulatory sandbox testing period.
(3) The department may grant one extension in accordance with this section for not more than twelve months after the end of the regulatory sandbox testing period.
(4) A sandbox participant that obtains an extension in accordance with this section shall provide the department with a written report every three months that provides an update on efforts to obtain a license or other authorization required by law, including any applications submitted for licensure or other authorization, rejected applications, or issued licenses or other authorizations.
Source
Laws 2023, LB92, § 95.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 44 - Insurance › 44-9409 - Records, documents, data; requirements; reports; violation; department powers; report.

44-9409.
Records, documents, data; requirements; reports; violation; department powers; report.
(1) A sandbox participant shall retain records, documents, and data produced in the ordinary course of business regarding an innovative insurance product or service tested in the regulatory sandbox.
(2) If an innovative insurance product or service fails before the end of a testing period, the sandbox participant shall notify the department and report on actions taken by the sandbox participant to ensure consumers have not been harmed as a result of the failure.
(3) The department shall establish quarterly reporting requirements for a sandbox participant, including information about any customer complaints.
(4) The department may request records, documents, and data from a sandbox participant and, upon the department's request, a sandbox participant shall make such records, documents, and data available for inspection by the department.
(5) If the department determines that a sandbox participant has engaged in, is engaging in, or is about to engage in any practice or transaction that is in violation of Chapter 44, the department may remove a sandbox participant from the regulatory sandbox. If the department determines that the practice or transaction is in violation of state or federal criminal law, the department shall remove the sandbox participant from the regulatory sandbox.
(6) The department shall provide a written report upon request by a member of the Legislature that provides information regarding each sandbox participant and that provides recommendations regarding the effectiveness of the Insurance Regulatory Sandbox Act.
Source
Laws 2023, LB92, § 96.
Operative Date: September 2, 2023
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-101.01 - Unconstitutional.

45-101.01.
Unconstitutional.
Annotations
This section enacted by 1963 Special Session as a part of Legislative Bill 11 was unconstitutional as special legislation. State Securities Co. v. Ley, 177 Neb. 251, 128 N.W.2d 766 (1964).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-101.02 - Terms, defined.

45-101.02.
Terms, defined.
As used in sections 45-101.02 to 45-101.04, 45-102, and 45-105, unless the context otherwise requires:
(1) Interest means the compensation agreed upon or allowed by law upon any loan or forbearance of money, goods, or things in action but does not include loan service costs;
(2) Loan service costs means reasonable and necessary costs and charges incurred in connection with the making, closing, disbursing, servicing, extending, transferring, or renewing of a loan, including but not limited to (a) prepayment charges, (b) delinquency charges, (c) premiums for hazard, private mortgage, disability, life, or title insurance, (d) fees for escrow, appraisal, abstracting, title examination, surveys, inspections, credit reports, and recording of documents, (e) origination fees, (f) interest on interest after default, and (g) costs and charges incurred for determining qualification for the loan proceeds and disbursement of the loan proceeds; and
(3) Discount points means any charges except actual loan service costs whether or not actually denominated as discount points paid to a lender which directly or indirectly affect the ability of the borrower to secure a loan. For the purpose of determining the rate of interest on any loan, discount points, if any, shall be amortized over the original term of the loan.
Source
Laws 1975, LB 349, § 1;
Laws 1997, LB 137, § 19.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-101.03 - General interest rate; maximum; variable rate authorized; conditions.

45-101.03.
General interest rate; maximum; variable rate authorized; conditions.
(1) Except as provided in section 45-101.04, any rate of interest which may be agreed upon, not exceeding sixteen percent per annum on the unpaid principal balance, shall be valid upon any loan or forbearance of money, goods, or things in action and may be taken yearly, for any shorter period, or in advance, if so expressly agreed.
(2) Such rate of interest so long as it does not violate sections 45-101.02 to 45-113 or any federal usury law may be charged on a variable rate basis, except that if the lender proposes to increase the interest rate during the term of a loan on consumer goods notice of such proposed increase shall be communicated in writing to the person or persons primarily obligated on such loan at least ten days prior to the proposed increase. Deposit of such notice in the United States mails, postage prepaid, shall be deemed communication for the purpose of this section.
Source
Laws 1975, LB 349, § 2;
Laws 1979, LB 390, § 1;
Laws 1980, LB 276, § 6;
Laws 1982, LB 778, § 1.
Annotations
Notwithstanding limitations on interest rates imposed on state banks by Nebraska law, national bank in Nebraska can charge, with respect to credit card transactions, rates allowed by Nebraska law for "small loan companies". Fisher v. First Nat. Bank of Omaha, 548 F.2d 255 (8th Cir. 1977).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-101.05 - Mortgage loan; escrow account; how established and maintained.

45-101.05.
Mortgage loan; escrow account; how established and maintained.
No lender, in connection with a mortgage loan, shall require the borrower or prospective borrower:
(1) To deposit in any escrow account which may be established in connection with such loan for the purpose of assuring payment of taxes, insurance premiums, or other charges with respect to the property, prior to or upon the date of settlement, an aggregate sum in excess of the total amount of such taxes, insurance premiums, and other charges which are attributable to the period beginning on the last date on which each such charge would have been paid under the normal lending practice of the lender if the selection of each such date constitutes prudent lending practice and ending on the due date of its first full installment payment under the mortgage plus a cushion that shall be no greater than one-sixth of the estimated total annual payments to be made from the escrow account for such taxes, insurance premiums, and other charges during the twelve-month period beginning on the date of settlement; or
(2) To deposit in any such escrow account in any month beginning after the date of settlement a sum for the purpose of assuring payment of taxes, insurance premiums, or other charges with respect to the property in excess of one-twelfth of the total annual escrow account payments which the lender reasonably anticipates paying from the escrow account for such taxes, insurance premiums, and other charges plus a cushion that shall be no greater than one-sixth of the estimated total annual payments to be made from the escrow account for such taxes, insurance premiums, and other charges, except that if the lender determines that a shortage exists or that there will be a deficiency on the due date the lender shall not be prohibited from requiring additional monthly deposits in such escrow account of pro rata portions of the shortage or deficiency corresponding to the number of months from the date of the lender's determination of such shortage or deficiency to the date upon which such taxes, insurance premiums, and other charges would be paid under the normal lending practice of the lender if the selection of each such date constitutes prudent lending practice.
Source
Laws 1976, LB 502, § 1;
Laws 1997, LB 554, § 1.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-101.06 - Escrow accounts; not required.

45-101.06.
Escrow accounts; not required.
It is not the intent of sections 45-101.05 to 45-101.07 to require that escrow accounts be required or established.
Source
Laws 1976, LB 502, § 2.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-101.07 - Violations; penalty.

45-101.07.
Violations; penalty.
Any lender who violates any of the provisions of section 45-101.05 shall be guilty of a Class IV misdemeanor.
Source
Laws 1976, LB 502, § 3;
Laws 1977, LB 41, § 39.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-103.01 - Postjudgment interest; accrual; when.

45-103.01.
Postjudgment interest; accrual; when.
Interest as provided in section 45-103 shall accrue on decrees and judgments for the payment of money from the date of entry of judgment until satisfaction of judgment.
Source
Laws 1986, LB 298, § 2;
Laws 1994, LB 1183, § 2;
Laws 1999, LB 43, § 20.
Annotations
Judgment interest accrues on the judgment, even if that judgment is made up in part of interest already accrued. Heritage Bank v. Bruha, 283 Neb. 263, 812 N.W.2d 260 (2012).
This section allows parties to contractually agree to a rate of postjudgment interest and does not impose additional conditions for the recovery of such interest. Folgers Architects v. Kerns, 262 Neb. 530, 633 N.W.2d 114 (2001).
Interest accrues from the date the original judgment is due, regardless of whether an appeal is taken prior to that date. Gallner v. Gallner, 257 Neb. 158, 595 N.W.2d 904 (1999).
Based on the mandatory language contained herein, a court of equity does not have discretion to withhold interest on decrees or judgments for the payment of money. Welch v. Welch, 246 Neb. 435, 519 N.W.2d 262 (1994).
The court did not err in awarding postjudgment interest on the wife's fixed dollar amount share of her husband's profit-sharing plan from the date of entry of the decree, even though the qualified domestic relations order called for by the decree was not entered for over 2 years. Fry v. Fry, 18 Neb. App. 75, 775 N.W.2d 438 (2009).
When a judgment is modified upon appeal, interest runs on the full amount of the judgment as modified from the date the original judgment was rendered by the trial court. Ramaekers, McPherron & Skiles v. Ramaekers, 4 Neb. App. 733, 549 N.W.2d 662 (1996).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-103.03 - Interest; how computed.

45-103.03.
Interest; how computed.
All payments made prior to trial by or on behalf of the defendant shall be subtracted from the judgment before interest as provided in subsection (1) of section 45-103.02 is added.
Source
Laws 1986, LB 298, § 4;
Laws 1994, LB 1183, § 4.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-103.04 - Prejudgment interest; exceptions.

45-103.04.
Prejudgment interest; exceptions.
Interest as provided in section 45-103.02 shall not accrue prior to the date of entry of judgment for:
(1) Any action arising under Chapter 42; or
(2) Any action involving the state, a political subdivision of the state, or any employee of the state or any of its political subdivisions for any negligent or wrongful act or omission accruing within the scope of such employee's office or employment.
Source
Laws 1986, LB 298, § 5;
Laws 1994, LB 1183, § 5;
Laws 1999, LB 43, § 22.
Annotations
This section does not limit a court's equitable powers to order a party to pay interest. Becher v. Becher, 311 Neb. 1, 970 N.W.2d 472 (2022).
Subsection (2) of this section prohibits prejudgment interest for (1) any action involving the state, (2) any action involving a political subdivision of the state, or (3) any action involving an employee of the state or political subdivision for any negligent or wrongful act or omission accruing within the scope of such employee's office or employment. Eikmeier v. City of Omaha, 280 Neb. 173, 783 N.W.2d 795 (2010).
Claims against political subdivisions which accrued on or after January 1, 1987, are not subject to prejudgment interest. Hammond v. City of Broken Bow, 239 Neb. 437, 476 N.W.2d 822 (1991).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-104.01 - Interest; political subdivisions; delinquent taxes; special assessments.

45-104.01.
Interest; political subdivisions; delinquent taxes; special assessments.
Unless otherwise specifically provided, the interest rate assessed on delinquent payments of any taxes or special assessments owing to any political subdivision of the State of Nebraska shall be assessed at a rate of fourteen percent per annum.
Source
Laws 1981, LB 167, § 1;
Laws 1992, Fourth Spec. Sess., LB 1, § 4.
Annotations
Under the former law, if an obligation to pay interest arises under section 67-405 and the rate is not specified, the rate is that specified in this section. Robertson v. Jacobs Cattle Co., 285 Neb. 859, 830 N.W.2d 191 (2013).
This statutory provision does not mandate the assessment of interest on delinquent taxes; rather, it sets the rate at which such interest will be assessed. Ameritas Life Ins. Corp. v. Balka, 257 Neb. 878, 601 N.W.2d 508 (1999).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-104.02 - Interest; State of Nebraska; delinquent taxes; special assessments; credits or refunds.

45-104.02.
Interest; State of Nebraska; delinquent taxes; special assessments; credits or refunds.
(1) Unless otherwise specifically provided, the interest rate assessed on delinquent payments of any taxes or special assessments owing to the State of Nebraska shall be assessed at a rate of fourteen percent per annum through December 31, 1992, and at the per annum rate determined pursuant to subsection (2) of this section after such date.
(2) Commencing January 1, 1993, the interest rate assessed pursuant to subsection (1) of this section shall be redetermined every other year. The rate shall be determined by the Tax Commissioner and shall be equal to the average short-term borrowing rate for the federal government during July of the previous year rounded to the nearest whole percentage point plus three percentage points. If the new rate does not increase or decrease the old rate by at least two percentage points, the old rate shall continue in effect.
(3)(a) The rate determined pursuant to subsection (2) of this section shall apply for the period from its effective date through the date of payment or up to the effective date of the succeeding new rate, whichever is earlier.
(b) Interest on taxes or special assessments shall be calculated using the different rates which are effective over the period of delinquency.
(c) For any taxes or special assessments that were delinquent and unpaid on or before December 31, 1992, the interest rate shall be fourteen percent per annum through December 31, 1992.
(4) For any credits or refunds of taxes or special assessments on which interest is to be determined at the rate specified in this section, the calculation of interest shall use the same rates for the same periods that are used for interest on delinquent payments.
(5) For refunds applied for on or after May 1, 1993, for any taxes that were overpaid as of December 31, 1992, the interest rate shall be seven percent per annum from the date of overpayment through December 31, 1992.
Source
Laws 1992, Fourth Spec. Sess., LB 1, § 5;
Laws 1993, LB 345, § 2.
Annotations
Absent evidence in the record about what the rate should be, an appellate court cannot rule that the rate used by the trial judge was wrong. Holman v. Papio-Missouri River Nat. Resources Dist., 246 Neb. 787, 523 N.W.2d 510 (1994).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-105.01 - Unconstitutional.

45-105.01.
Unconstitutional.
Annotations
This section enacted by 1963 Special Session as a part of Legislative Bill 11 was unconstitutional as special legislation. State Securities Co. v. Ley, 177 Neb. 251, 128 N.W.2d 766 (1964).
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-106 - Interest; warrants or orders.

45-106.
Interest; warrants or orders.
All warrants or orders issued by the proper authorities of any county, city, township, school district, other municipal subdivision less than a county, or sanitary district, whose area is located partly within a municipality, shall draw interest from and after the date of presentation for payment at such rate as is fixed by the issuing authority and endorsed on the warrant. All warrants issued by the state shall draw interest at the rate of four percent per annum from the date the same are presented for payment.
Source
Laws 1879, § 10, p. 115;
Laws 1895, c. 43, § 1, p. 185;
Laws 1895, c. 44, § 1, p. 186;
Laws 1899, c. 48, § 1, p. 260;
Laws 1903, c. 54, § 1, p. 345;
R.S.1913, § 3355;
Laws 1919, c. 108, § 1, p. 264;
C.S.1922, § 2843;
Laws 1929, c. 125, § 1, p. 472;
C.S.1929, § 45-110;
R.S.1943, § 45-106;
Laws 1945, c. 110, § 1, p. 354;
Laws 1947, c. 171, § 2, p. 519;
Laws 1969, c. 51, § 109, p. 340.
Cross References
For other provisions as to interest on warrants:
Counties, see section 23-1602.
Drainage districts, see section 31-416.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-107 - Interest; effect on purchase of certain lands.

45-107.
Interest; effect on purchase of certain lands.
The rate of interest fixed by sections 45-101.02 to 45-106 shall not affect interest on purchase money of school, university, and agricultural college lands, or on lands delinquent or sold for the nonpayment of taxes.
Source
Laws 1879, § 11, p. 115;
R.S.1913, § 3356;
C.S.1922, § 2844;
C.S.1929, § 45-111;
R.S.1943, § 45-107.
Cross References
For provisions for payment of interest on redemption from sale for taxes, see sections 77-1824 and 77-1830.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-108 - Interest; rate; when calculated by the year.

45-108.
Interest; rate; when calculated by the year.
When in any law, or in any instrument in writing specifying a rate of interest, no period of time is mentioned for which such rate is to be calculated, it shall be deemed to be by the year.
Source
Laws 1879, § 9, p. 115;
R.S.1913, § 3354;
C.S.1922, § 2842;
C.S.1929, § 45-109;
R.S.1943, § 45-108.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-109 - Contracts for payment of money or indebtedness; when usurious.

45-109.
Contracts for payment of money or indebtedness; when usurious.
Any contract for the payment of money in satisfaction of indebtedness which seeks, directly or indirectly, to prevent the debtor from discharging his obligation in full in any lawful money of the United States with the same number of dollars he originally contracted to pay, plus interest not in excess of the maximum legal contract rate, is hereby declared to constitute usury, the same as if the contract sought to bind the debtor to pay more than the maximum legal rate of interest.
Source
Laws 1935, c. 126, § 1, p. 452;
C.S.Supp.,1941, § 45-128;
R.S.1943, § 45-109.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-110 - Usurious contracts; limit of recovery.

45-110.
Usurious contracts; limit of recovery.
All such contracts are hereby declared contrary to public policy and usurious, and in any action therefor the plaintiff shall recover only the same number of dollars in any lawful money of the United States as the number of dollars contracted for at the time the original contract was entered into, plus interest not exceeding the maximum legal contract rate and costs, and no more.
Source
Laws 1935, c. 126, § 2, p. 452;
C.S.Supp.,1941, § 45-129;
R.S.1943, § 45-110.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-111 - Usury; civil proceedings; testimony of lender compellable.

45-111.
Usury; civil proceedings; testimony of lender compellable.
Any person charged with taking illegal interest may be required to answer touching the same, on oath, in any civil proceeding.
Source
Laws 1879, § 6, p. 114;
R.S.1913, § 3351;
C.S.1922, § 2839;
C.S.1929, § 45-106;
R.S.1943, § 45-111.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-112 - Usury; relief; tender of principal unnecessary.

45-112.
Usury; relief; tender of principal unnecessary.
Relief to the complaining party in case of an usurious loan may be given without payment or tender by him of the principal sum.
Source
Laws 1879, § 7, p. 115;
R.S.1913, § 3352;
C.S.1922, § 2840;
C.S.1929, § 45-107;
R.S.1943, § 45-112.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-113 - Usury; witness; testimony not evidence in criminal proceeding, when.

45-113.
Usury; witness; testimony not evidence in criminal proceeding, when.
Any officer or agent of a person or a corporation, whether interested or not, may be summoned as a witness in any action for usury against such person or corporation, and required to disclose all the facts of the case, but the testimony of such witness, or the answer of the party as required in section 45-111, shall not be used against such witness or party in any criminal prosecution for perjury.
Source
Laws 1879, § 8, p. 115;
R.S.1913, § 3353;
C.S.1922, § 2841;
C.S.1929, § 45-108;
R.S.1943, § 45-113.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-189 - Loan brokers; legislative findings.

45-189.
Loan brokers; legislative findings.
The Legislature finds that:
(1) Many professional groups are presently licensed or otherwise regulated by the State of Nebraska in the interest of public protection;
(2) Certain questionable business practices, such as the collection of an advance fee prior to the performance of the service, misleads the public;
(3) Such practices are avoided by many professional groups and many professional groups are regulated by the state to restrict practices which tend to mislead or deceive the public;
(4) Loan brokers in Nebraska have engaged in the practice of collecting an advance fee from borrowers in consideration for attempting to procure a loan of money;
(5) Such practice, as well as others, by loan brokers has led the public to believe that the loan broker has agreed to procure a loan for the borrower when in fact the loan broker has merely promised to attempt to procure a loan; and
(6) Regulation of loan brokers by the state, in similar fashion to that of other professions, is necessary in order to protect the public welfare and to promote the use of fair and equitable business practices.
Source
Laws 1981, LB 154, § 1;
Laws 2011, LB75, § 2.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-190 - Terms, defined.

45-190.
Terms, defined.
For purposes of sections 45-189 to 45-191.11, unless the context otherwise requires:
(1) Advance fee means any fee, deposit, or consideration which is assessed or collected, prior to the closing of a loan, by a loan broker and includes, but is not limited to, any money assessed or collected for processing, appraisals, credit checks, consultations, or expenses;
(2) Borrower means a person obtaining or desiring to obtain a loan of money;
(3) Department means the Department of Banking and Finance;
(4) Director means the Director of Banking and Finance;
(5)(a) Loan broker means any person who:
(i) For or in expectation of consideration from a borrower, procures, attempts to procure, arranges, or attempts to arrange a loan of money for a borrower;
(ii) For or in expectation of consideration from a borrower, assists a borrower in making an application to obtain a loan of money;
(iii) Is employed as an agent for the purpose of soliciting borrowers as clients of the employer; or
(iv) Holds himself or herself out, through advertising, signs, or other means, as a loan broker; and
(b) Loan broker does not include: (i) A bank, bank holding company, trust company, savings and loan association or subsidiary of a savings and loan association, building and loan association, or credit union which is subject to regulation or supervision under the laws of the United States or any state; (ii) a mortgage banker or an installment loan company licensed or registered under the laws of the State of Nebraska; (iii) a credit card company; (iv) an insurance company authorized to conduct business under the laws of the State of Nebraska; or (v) a lender approved by the Federal Housing Administration or the United States Department of Veterans Affairs, if the loan is secured or covered by guarantees, commitments, or agreements to purchase or take over the same by the Federal Housing Administration or the United States Department of Veterans Affairs;
(6) Loan brokerage agreement means any agreement for services between a loan broker and a borrower; and
(7) Person means natural persons, corporations, trusts, unincorporated associations, joint ventures, partnerships, and limited liability companies.
Source
Laws 1981, LB 154, § 2;
Laws 1982, LB 751, § 1;
Laws 1985, LB 86, § 1;
Laws 1989, LB 272, § 3;
Laws 1993, LB 121, § 271;
Laws 1993, LB 270, § 1;
Laws 1995, LB 599, § 11;
Laws 2001, LB 53, § 87;
Laws 2003, LB 131, § 26;
Laws 2009, LB327, § 16;
Laws 2011, LB75, § 3;
Laws 2013, LB279, § 1;
Laws 2017, LB184, § 1.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191 - Loan brokers; prohibited acts.

45-191.
Loan brokers; prohibited acts.
No loan broker shall:
(1) Assess or collect an advance fee from a borrower under a contract to provide services for the procurement of a loan of money;
(2) Willfully, either orally or in writing, misrepresent the terms, benefits, privileges, or provisions of any service contract issued or to be issued by the loan broker or by any lender; or
(3) Represent or imply that the loan broker has been sponsored, recommended, or approved by the department or that the loan broker's abilities or qualifications have been passed upon by the department.
Source
Laws 1981, LB 154, § 3;
Laws 1993, LB 270, § 2.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.02 - Loan brokers; filings with department required; filing fees.

45-191.02.
Loan brokers; filings with department required; filing fees.
(1) Before advertising or making any oral or written representation or acting as a loan broker in this state a loan broker shall file with the department one copy of the disclosure statement and one copy of any loan brokerage agreement.
(2) The loan broker shall renew these filings no less than annually and shall also file any amendment to the disclosure statement within forty-five days after any material change in information required to be disclosed in the disclosure statement.
(3) The loan broker shall pay a one-hundred-fifty-dollar filing fee upon filing the initial disclosure statement and a one-hundred-dollar filing fee upon the filing of a renewal of the disclosure statement. The loan broker shall pay a fifty-dollar filing fee for each amendment filed. All funds collected by the department under this section shall be remitted to the State Treasurer for credit to the Securities Act Cash Fund.
(4) The information contained or filed under this section may be made available to the public under such rules and regulations as the department may prescribe.
Source
Laws 1993, LB 270, § 4;
Laws 2001, LB 53, § 88;
Laws 2003, LB 217, § 33;
Laws 2020, LB909, § 23.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.03 - Prohibited acts; violations; penalties.

45-191.03.
Prohibited acts; violations; penalties.
(1) A loan broker who fails to make accurate and timely filings as required by section 45-191.02 shall be guilty of a Class I misdemeanor.
(2) A loan broker who willfully violates subdivision (1) of section 45-191 shall be guilty of:
(a) A Class IV felony if the advance fee assessed or collected is greater than three hundred dollars; or
(b) A Class I misdemeanor if the advance fee assessed or collected is three hundred dollars or less.
(3) A willful violation of any other provision of sections 45-189 to 45-191.11 by a loan broker shall be a Class IV felony.
Source
Laws 1993, LB 270, § 5.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.04 - Loan brokerage agreement; requirements; right to cancel.

45-191.04.
Loan brokerage agreement; requirements; right to cancel.
(1) A loan brokerage agreement shall be in writing and shall be signed by the loan broker and the borrower. The loan broker shall furnish the borrower a copy of such signed loan brokerage agreement at the time the borrower signs it.
(2) The borrower has the right to cancel a loan brokerage agreement for any reason at any time within five business days after the date the parties sign the agreement. The loan brokerage agreement shall set forth the borrower's right to cancel and the procedures to be followed when an agreement is canceled.
(3) A loan brokerage agreement shall set forth in at least ten-point type, or handwriting of at least equivalent size, the following:
(a) The terms and conditions of payment;
(b) A full and detailed description of the acts or services the loan broker will undertake to perform for the borrower;
(c) The loan broker's principal business address, telephone number, and electronic mail and Internet address and the name, address, telephone number, and electronic mail and Internet address, if any, of its agent in the State of Nebraska authorized to receive service of process;
(d) The business form of the loan broker, whether a corporation, partnership, limited liability company, or otherwise; and
(e) The following notice of the borrower's right to cancel the loan brokerage agreement pursuant to this section:
"You have five business days in which you may cancel this agreement for any reason by mailing or delivering written notice to the loan broker. The five business days shall expire on ................... (last date to mail or deliver notice), and notice of cancellation should be mailed to .......................................... (loan broker's name and business street address). If you choose to mail your notice, it must be placed in the United States mail properly addressed, first-class postage prepaid, and postmarked before midnight of the above date. If you choose to deliver your notice to the loan broker directly, it must be delivered to the loan broker by the end of the normal business day on the above date. Within five business days after receipt of the notice of cancellation, the loan broker shall return to you all sums paid by you to the loan broker pursuant to this agreement."
The notice shall be set forth immediately above the place at which the borrower signs the loan brokerage agreement.
Source
Laws 1993, LB 270, § 6;
Laws 2001, LB 53, § 89;
Laws 2007, LB124, § 30;
Laws 2017, LB184, § 3;
Laws 2023, LB92, § 68.
Operative Date: June 7, 2023
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.05 - Waiver of sections; attempt; prohibited.

45-191.05.
Waiver of sections; attempt; prohibited.
A waiver of sections 45-189 to 45-191.11 by a borrower prior to or at the time of entering into a loan brokerage agreement is contrary to public policy and shall be void. Any attempt by a loan broker to have a borrower waive any rights pursuant to sections 45-189 to 45-191.11 shall be a violation of such sections.
Source
Laws 1993, LB 270, § 7.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.06 - Department; adopt rules and regulations.

45-191.06.
Department; adopt rules and regulations.
The department may adopt, promulgate, amend, and rescind such rules and regulations as necessary or appropriate to implement the purposes of sections 45-189 to 45-191.11.
Source
Laws 1993, LB 270, § 8.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.07 - Violation of loan brokerage agreement by loan broker; effect.

45-191.07.
Violation of loan brokerage agreement by loan broker; effect.
(1) If a loan broker materially violates the loan brokerage agreement, the borrower may upon written notice void such loan brokerage agreement. In addition, the borrower may recover all money paid to the loan broker and any other damages, including reasonable attorney's fees. The loan broker shall be deemed to have materially violated the loan brokerage agreement if the loan broker does any of the following:
(a) Makes false or misleading statements relating to the loan brokerage agreement;
(b) Does not comply with the loan brokerage agreement or any obligations arising from the loan brokerage agreement;
(c) Does not grant the borrower a loan or diligently attempt to obtain a loan for the borrower; or
(d) Does not comply with the requirements of sections 45-189 to 45-191.11.
(2) Remedies under this section shall be in addition to any other remedies available in law or equity.
Source
Laws 1993, LB 270, § 9.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.08 - Director; enforcement powers.

45-191.08.
Director; enforcement powers.
(1)(a) The director in his or her discretion may make such investigations within or without this state as necessary to determine whether any person has violated or is about to violate sections 45-189 to 45-191.11 or to aid in the enforcement of such sections or in the adopting or promulgating of rules, regulations, and forms under such sections. In the discretion of the director, the actual expense of any such investigation may be charged to any person who is the subject of such investigation.
(b) The department may publish information concerning any violation of such sections or any rule, regulation, or order of the department.
(c) For purposes of any investigation or proceeding under such sections, the director or any officer designated by him or her may administer oaths and affirmations, subpoena witnesses, compel their attendance, take evidence, and require the production of any books, papers, correspondence, memoranda, agreements, or other documents or records which the director deems relevant or material to the inquiry.
(2)(a) In case of contumacy by or refusal to obey a subpoena issued to any person, any court of competent jurisdiction, upon application by the director, may issue an order to that person requiring him or her to appear before the director or an officer designated by the director to produce documentary evidence or to give evidence touching on a matter under investigation or in question. Any failure to obey an order of the court may be punished by the court as a contempt of court.
(b) The request for order of compliance may be addressed to either (i) the district court of Lancaster County or the district court in the county where service may be obtained on the person refusing to testify or produce, if the person is within this state, or (ii) the appropriate district court of this state having jurisdiction over the person refusing to testify or produce, if the person is outside this state.
Source
Laws 1993, LB 270, § 10.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.10 - Persons exempt.

45-191.10.
Persons exempt.
The following persons are exempt from sections 45-189 to 45-191.11 if such person does not hold himself or herself out, through advertising, signs, or other means, as a loan broker: Securities broker-dealer, real estate broker or salesperson, attorney, certified public accountant, or investment adviser.
Source
Laws 1993, LB 270, § 12;
Laws 1995, LB 599, § 12;
Laws 2013, LB279, § 2.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-191.11 - Burden of proof.

45-191.11.
Burden of proof.
In any proceeding under the provisions of sections 45-189 to 45-191.11, the burden of proving an exemption or an exception from a definition shall be upon the person claiming it.
Source
Laws 1993, LB 270, § 13.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,104 - Federal interest rate limitations; rejected by state.

45-1,104.
Federal interest rate limitations; rejected by state.
The federal limits on interest rates as provided in sections 501(a)(1), 511, and 524 of Public Law 96-221 shall not apply to loans, mortgages, credit sales, and advances made in Nebraska and are hereby rejected by the State of Nebraska pursuant to this section. Sections 521 to 523 of Public Law 96-221 are not rejected. Subject to the foregoing, the State of Nebraska elects to retain the power to establish or not establish usury limits provided under the Nebraska statutes and the Nebraska Constitution and retains the power to have such limits, if any, apply to any loan, mortgage, credit sale, or advance made in this state after July 17, 1982.
Source
Laws 1982, LB 623, § 2;
Laws 1988, LB 913, § 2.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,105 - Terms, defined.

45-1,105.
Terms, defined.
As used in sections 45-1,105 to 45-1,110, unless the context otherwise requires:
(1) Collateral shall mean the property subject to a security interest as defined by the Uniform Commercial Code;
(2) Consumer shall mean a natural person to whom credit is offered or extended by way of a transaction if the money, property, or services of the transaction are primarily for personal, family, or household purposes;
(3) Credit shall mean the right granted by a creditor to a debtor to defer payment of debt or to incur debt and defer its payment;
(4) Creditor shall mean creditors who regularly extend, or arrange for the extension of, credit which is payable by agreement in more than four installments or for which payment of a finance charge is or may be required, whether in connection with loans, sale of property or services, or otherwise; and
(5) Default shall mean either of the following, if without justification under any law:
(a) The consumer fails to make a payment required by the agreement; or
(b) The prospect of payment, performance, or realization of collateral is significantly impaired. The burden of establishing the prospect of significant impairment shall be on the creditor.
Source
Laws 1983, LB 111, § 1.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,106 - Consumer credit transaction; default; notice required.

45-1,106.
Consumer credit transaction; default; notice required.
(1) With respect to a consumer credit transaction, after a consumer has been in default for ten days, a creditor may give the consumer the notice described in this section. A creditor gives notice to the consumer under this section when he or she delivers the notice to the consumer or delivers or mails the notice to the consumer's last-known residence address.
(2) The notice shall be in writing and shall conspicuously state: The name, address, and telephone number of the creditor to which payment is to be made; a brief identification of the credit transaction; the consumer's right to cure the default; and the amount of payment and date by which payment must be made to cure the default, or any other performance necessary to cure the default and the date by which such performance must be tendered.
Source
Laws 1983, LB 111, § 2.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,107 - Consumer credit transaction; default; consumer's right to cure.

45-1,107.
Consumer credit transaction; default; consumer's right to cure.
(1) With respect to a consumer credit transaction, after a default a creditor may neither accelerate maturity of the unpaid balance of the obligation nor take possession of collateral, except voluntarily surrendered collateral, because of such default until twenty days after a notice of the consumer's right to cure is given. The consumer shall have twenty days after the notice is given to cure any default by tendering the amount of all unpaid sums due at the time of the tender, without acceleration, plus any unpaid charges, or by tendering any other performance necessary to cure the default as specified in the notice of right to cure. Cure shall restore the consumer to his or her rights under the agreement as though the default had not occurred.
(2) With respect to defaults on the same obligation after a creditor has once given notice of the consumer's right to cure, the consumer shall have no further right to cure and the creditor has no obligation to proceed against the consumer or the collateral.
Source
Laws 1983, LB 111, § 3.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,108 - Consumer credit transaction; voluntary surrender of goods; creditor's right to enforce security interest.

45-1,108.
Consumer credit transaction; voluntary surrender of goods; creditor's right to enforce security interest.
Sections 45-1,105 to 45-1,107 shall not prohibit a consumer from voluntarily surrendering possession of goods which are collateral and shall not prohibit the creditor from thereafter enforcing any security interest in the goods at any time after default.
Source
Laws 1983, LB 111, § 4.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,109 - Consumer credit transactions; procedures; when applicable.

45-1,109.
Consumer credit transactions; procedures; when applicable.
Sections 45-1,105 to 45-1,110 shall apply to all consumer credit transactions in this state subject to a security interest, as defined in subdivision (35) of section 1-201, Uniform Commercial Code, entered into, extended, or renewed on or after January 1, 1984.
Source
Laws 1983, LB 111, § 5;
Laws 2005, LB 570, § 1.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,110 - Consumer credit default procedures; not applicable to certain licensees.

45-1,110.
Consumer credit default procedures; not applicable to certain licensees.
Sections 45-1,105 to 45-1,110 shall not apply to any licensee operating under the Nebraska Installment Loan Act.
Source
Laws 1983, LB 111, § 6;
Laws 1997, LB 555, § 26;
Laws 2001, LB 53, § 100.
Cross References
Nebraska Installment Loan Act, see section 45-1001.
2023 Nebraska Revised Statutes › Chapter 45 - Interest, Loans, and Debt › 45-1,111 - Forced sale; disposition of certain proceeds.

45-1,111.
Forced sale; disposition of certain proceeds.
In any forced sale of real or personal property conducted to satisfy the claims of creditors, any proceeds of such sale which exceed the claims of such creditors shall be retained by the debtor.
Source
Laws 1987, LB 335, § 3.