reglab/statecodes huggingface dataset:
Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 13 - SPORTS WAGERING › Section 296-13.001 - GENERAL CONDUCT OF SPORTS WAGERING

Current through June 17, 2024
13.001.01 It is the
				policy of the commission to require that all industry participants conduct
				sports wagering in a manner suitable to protect the public health, safety,
				morals, good order, and general welfare of the state. Responsibility for
				selecting, implementing, and maintaining suitable methods of operation rests
				with the Authorized Gaming Operator or its Sports Wagering Services Provider
				and must be reflected in MICS that have been approved by the Commission.
				Willful or persistent use or toleration of methods of operation that fail to
				follow the Act, these regulations, or the MICS are subject to being deemed an
				unsuitable manner of operation and in the sole discretion of the commission may
				constitute grounds for disciplinary action, up to and including
				revocation.
13.0001.02 Authorized
				Gaming Operators or Sports Wagering Services Providers shall use a sports
				wagering system to offer, conduct, or operate sports wagering in accordance
				with applicable laws, these rules and the MICS. Only an Authorized Gaming
				Operator or its Sports Wagering Services Provider may process, accept, offer,
				or solicit sports wagers. If an Authorized Gaming Operator does not utilize a
				Sports Wagering Services Provider and, instead, develops its own sports
				wagering system, the Authorized Gaming Operator is considered both an
				Authorized Gaming Operator and a Sports Wagering Services Provider.
13.001.03 An Authorized Gaming Operator or
				Sports Wagering Services Provider is expressly prohibited from the following
				activities:
13.001.03A Failing to conduct
				advertising and public relations activities in accordance with decency,
				dignity, good taste, and honesty.
13.001.03B Failing to comply with or make
				provision for compliance with all federal, state, and local laws and rules
				pertaining to the operation of a sports wagering operation including, but not
				limited to, payment of license fees, withholding payroll taxes, and violations
				of alcoholic beverage laws or regulations.
13.001.03C Permitting cheating, failing to
				discover cheating that should have been discovered with reasonable inquiry, or
				failing to take action to prevent cheating.
13.001.03D Failing to conduct sports wagering
				operations in accordance with proper standards of custom, decorum, and decency;
				or permitting any type of conduct that reflects negatively on the state or
				commission or acts as a detriment to the sports wagering industry.
13.001.03E Performing any type of sports
				wagering activity, at any time, that is contrary to the representation made to
				the commission, commission representatives, or the public.
13.001.03F Denying a commissioner or
				commission representative, upon proper and lawful demand, information,
				documents, or access to inspect any portion of the sports wagering
				operation.
Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 13 - SPORTS WAGERING › Section 296-13.002 - INTERNAL CONTROLS AND WAGERING RULES

Current through June 17, 2024
13.002.01 Prior to
				beginning sports wagering operations, an Authorized Gaming Operator or Sports
				Wagering Services Provider must submit for approval under Chapter 4 internal
				controls which comply with the MICS.
13.002.02 An Authorized Gaming Operator or
				Sports Wagering Services Provider must adopt comprehensive wagering rules,
				which must be approved by the Commission and comply with the MICS.
13.002.03 The Authorized Gaming Operator or
				Sports Wagering Services Provider shall not implement any changes or
				modifications of the practices, procedures, or representations upon which the
				approval was based without the prior written approval of the
				Commission.
13.002.04 Available
				wagers must be displayed to the public and the gaming facility's surveillance
				system. The display must include the odds and a brief description of the event
				and wagering proposition.
13.002.05
				An Authorized Gaming Operator or Sports Wagering Services Provider may not
				accept a sports bet on an event unless a wagering proposition is posted on the
				sports wagering system.
13.002.06
				An Authorized Gaming Operator or Sports Wagering Services Provider may not set
				lines or odds or offer wagering propositions designed for the purposes of
				ensuring that a patron will win a sports bet or a series of sports bets unless
				the lines, odds, or wagering propositions are offered in connection with a
				bonus or promotional offer approved by the commission.
13.002.07 Sports wagering may only be
				conducted in person or at a wagering kilsk in the designated sports wagering
				are at the license racetrack enclosure from:
13.002.07A A sports wagering window located
				in the sports wagering area or other window locations as approved by the
				Commission;
13.002.07B Wagering
				kiosks in locations approved by the Commission; or
13.002.07C A designated window in the
				cashier's cage for the redemption of winning sports wagers.
13.002.07D Alternate means approved by the
				Commission.
Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 13 - SPORTS WAGERING › Section 296-13.003 - AUTHORIZED AND PROHIBITED EVENTS AND WAGER TYPES

Current through June 17, 2024
13.003.01
				The commission may permit an Authorized Gaming Operator or Sports Wagering
				Services Provider to offer sports wagering on the following event categories:
13.003.01A Professional sporting
				events
13.003.01B Collegiate
				sporting events
13.003.01C
				International sporting events
13.003.01D Professional motor race
				events
13.003.01E Professional
				sports drafts
13.003.01F Individual
				sports awards
13.003.01G Electronic
				sports
13.003.01H Simulated
				games
13.003.01I Any other sporting
				events as approved by the commission.
Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 13 - SPORTS WAGERING › Section 296-13.004 - PROHIBITING WAGERS FOR GOOD CAUSE

Current through June 17, 2024
13.004.01 A sports
				governing body may request sports wagering information or may request the
				Commission to restrict, limit, or exclude sports wagering on a particular event
				or a particular wager type.
13.004.02 The request must be submitted in
				the form and manner prescribed by the Commission and must include all of the
				following:
13.004.02A The identity of the
				sports governing body and contact information for at least one specific
				individual who will be the primary point of contact for questions related to
				the request;
13.004.02B A
				description of the sports wagering information, event, or wager type that is
				the subject of the request;
13.004.02C Information explaining why
				granting the request is necessary to protect the integrity of the event, or
				public confidence in the integrity of the event, that is the subject of the
				request. This may include information regarding any credible threat to the
				integrity of the event that is beyond the control of the sports governing body
				to preemptively remedy or mitigate; and
13.004.02D Any other information required by
				the Commission.
Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 13 - SPORTS WAGERING › Section 296-13.005 - SPORTS WAGERING EQUIPMENT AND SYSTEMS

Current through June 17, 2024
13.005.01 Prior to
				conducting sports wagering, and annually thereafter, all equipment and systems
				integral to the conduct of sports wagering must be submitted to a
				commission-designated independent testing laboratory for evaluation.
				Certification and commission approval must be received prior to the use of any
				equipment or system to conduct sports wagering.
13.005.02 If the equipment and systems
				integral to the conduct of sports wagering meets or exceeds the specifications
				set forth in the MICS or other technical specifications as prescribed by the
				Commission, the independent testing laboratory approved by the Commission shall
				certify the equipment and systems. Authorized Gaming Operators and Sports
				Wagering Services Providers are prohibited from offering sports wagering in
				this state without such certification. The Sports Wagering Services Providers
				is responsible for all costs associated with testing and obtaining such
				certifications.
Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 13 - SPORTS WAGERING › Section 296-13.006 - RESERVE REQUIREMENT - SPORT BETTING

Current through June 17, 2024
13.006.01 Each
				Authorized Gaming Operator must submit a plan to maintain a reserve in the
				amount necessary to ensure the security of funds held in patron accounts to
				protect patrons against defaults in payment of winnings owed by the holder of
				an Authorized Gaming Operator License. All plans and any changes thereto will
				require Commission approval.
13.006.02 The reserve must be in the form of:
13.006.02A Cash or cash equivalents
				maintained in a Nebraska bank account segregated from the Authorized Gaming
				Operator's operational funds. Cash equivalents are defined as all highly liquid
				investments with an original maturity of 3 months or less;
13.006.02B An irrevocable letter of credit
				from a bank located either in the State of Nebraska or at a minimum charted in
				the State of Nebraska;
13.006.02C A
				bond;
13.006.02D Payment processor
				reserves and receivables;
13.006.02E
				Any other form acceptable to the Commission; or
13.006.02F Any combination of the allowable
				forms described in paragraphs (i) to (v).
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-001

Current through June 17, 2024
All applications for real estate broker's or sales person's original
											  licenses must be filed in the Office of the Real Estate Commission and the applicant approved in accordance
											  with the Nebraska Real Estate License Act prior to the date of examination. All applications to re-take an
											  examination must be filed in the Office of the Real Estate Commission and the applicant re-approved in
											  accordance with the Nebraska Real Estate License Act prior to the date of re-examination.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-002

Current through June 17, 2024
An applicant shall forfeit the examination fee when said applicant fails
											  to appear to take the examination for which said applicant has been scheduled, unless said applicant has
											  given the required cancellation notice as contracted by the Real Estate Commission with the examination
											  provider.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-003

Current through June 17, 2024
Each original application for a broker's or salesperson's original
											  license must include the Social Security Number of the applicant and be accompanied by a passport-type
											  picture of the applicant taken within the past year.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-005

Current through June 17, 2024
All examinations will be given under the supervision of the Director or
											  his or her representative. The examination will be given no less than monthly unless otherwise ordered by the
											  Commission. The Commission will inform applicants of approval to sit for the examination. In conducting the
											  examination, the Commission may utilize professional testing services.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-006

Current through June 17, 2024
The Commission shall pass upon the granting of broker's and salesperson's
											  licenses and upon applications for reciprocal and non-resident licenses.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-007

Current through June 17, 2024
Failure to make application for the renewal of a license prior to
											  December 1st of the year the licensee's renewal is due as defined by Section
											  81-885.14 will automatically
											  cancel the license of a real estate broker or a real estate salesperson as of December 31st of that year and
											  such real estate broker or real estate salesperson is prohibited from engaging in the real estate business in
											  the State of Nebraska until such license has been renewed in accordance with Section
											  81-885.14 of the Nebraska
											  Real Estate License Act.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-008

Current through June 17, 2024
Any licensee whose license has been canceled for failure to pay the
											  renewal fee when due must comply with all requirements of a new applicant and comply with Section
											  81-885.53
											  of the Nebraska Real Estate License Act, if applicable, in order to secure reinstatement of his or her
											  license, except as provided in Section
											  81-885.14(1)
											   of the Nebraska Real Estate License Act.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-009

Current through June 17, 2024
Any inactive broker or salesperson may renew his or her license by making
											  application, before December 1st by submitting the renewal fee, together with the completed renewal
											  application on which he or she has noted his or her present "Inactive Status". Any licensee whose license has
											  been renewed on such "Inactive Status" shall not be permitted to engage in activities which require a real
											  estate license under the Nebraska Real Estate License Act until such time as he or she fulfills the
											  requirements for active status. Any license which has been inactive for a continuous period of more than
											  three years shall be reinstated only after the licensee sits for and passes the applicable licensing
											  examination in use at the time of activating the license and has made-up the required continuing education as
											  set forth in Section
											  81-885.53
											  of the Nebraska Real Estate License Act.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-010

Current through June 17, 2024
All licensees who enter the armed service or are called to active duty
											  after issuance of a real estate license are not required to pay the renewal fee or complete the continuing
											  education requirement during the period of service. Upon discharge from said service the license shall be
											  reinstated if the date of discharge is within three years of the date of beginning such service. In order to
											  be eligible for reinstatement upon discharge from said service, the licensee may make application for said
											  reinstatement within six months of the date of discharge as long as the date of discharge is within three
											  years of the date of beginning such service. In any case of reinstatement, the licensee shall show proof, in
											  the form of a photostatic copy of his or her discharge or papers of separation, that his or her discharge was
											  other than dishonorable. If date of discharge is after three years from the date of beginning such service,
											  the licensee shall be required to meet all the requirements for active status including the successful
											  completion of the current real estate examination before the license will be reinstated.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 1 - LICENSES; APPLICATIONS; TERMS, DEFINED; EXAMINATIONS; SURRENDER, SUSPENSION OR REVOCATION; RENEWAL; CANCELLATION; REINSTATEMENT; TRANSFER OF LICENSE › Section 299-1-011

Current through June 17, 2024
When a licensee is transferring his/her license, the licensee shall not
											  be deemed transferred until all required documents, fees and information have been received by the
											  Commission. The licensee will be considered to be on inactive status from the date employment is terminated
											  until the transfer is completed.
Laws 1973, LB 68 §7; RS 1943, §
									81-885.07(5)
											   R.S. Supp., 1974. Effective date September 2, 1973.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-001

Current through June 17, 2024
It shall be presumed that a duly licensed broker whose principal business is other than that of a real estate broker is unable to supervise licensed employees, and said broker shall not be allowed to employ a real estate salesperson or an associate broker until such presumption is overcome by satisfactory evidence to the contrary.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-002

Current through June 17, 2024
Each broker shall record with the Commission the type of business form under which the broker is doing business, i.e., sole proprietorship, general or limited partnership, corporation, limited liability company, or any other entity authorized by law under which a broker may be operating a real estate business, and the legal name of such entity if it is not a sole proprietorship. A broker may operate only under one business entity. In addition, the broker shall record with the Commission all names under which the broker will be conducting business. All trade names shall be recorded with the Commission only after registration with the Secretary of State's Office.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-004

Current through June 17, 2024
A broker, salesperson, or associate broker, when acting or proposing to act as a licensee involving brokerage services, shall not advertise to sell, buy, exchange, rent, or lease real property in a manner indicating that the offer to sell, buy, exchange, rent, or lease such real property is being made by a private party not engaged in the real estate business, and no advertisement shall be inserted in any publication where only a post office box number, telephone number, or street address appears.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-005

Current through June 17, 2024
Every salesperson, associate broker, and broker is prohibited from advertising under his or her own name the offering for sale, purchase, or exchange of any real property unless he or she is the owner thereof. Every licensee, when advertising his or her own property for sale, purchase, or exchange, or soliciting as a buyer of real property on his or her own behalf including but not limited to any entity in which he or she has a direct or beneficial ownership interest, must disclose in such advertising that he or she is a licensed real estate salesperson, associate broker, or broker acting as a principal in the transaction.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-006

Current through June 17, 2024
Every licensee is prohibited from soliciting or attempting to secure listings or to represent a purchaser or tenant without first advising the owner or prospective purchaser or tenant that he or she is a licensee, and that he or she is engaged in the real estate business.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-007

Current through June 17, 2024
In the event that more than one written offer is made before the owner has accepted an offer and closed on that offer, any other written offer presented to the licensee, whether by a prospective purchaser, an agent of a prospective purchaser, or a cooperating broker, shall be transmitted forthwith to the owner for his or her consideration.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-008

Current through June 17, 2024
A salesperson or associate broker shall not participate in the closing of any real estate transaction except under the supervision and with the consent of the broker under whom such salesperson or associate broker is licensed. A broker shall not authorize any person who is not licensed as a salesperson or associate broker to conduct the closing of a real estate transaction. This shall not prevent an unlicensed person, such as a closing secretary, from doing the preparatory work for the closing, subject to the approval of the licensee conducting the closing; and does not apply to real estate closing agents authorized under Neb. Rev. Stat. 76-2,121 et seq.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-009

Current through June 17, 2024
A broker closing a real estate transaction shall be in compliance with Neb. Rev. Stat. Sections  76-2,121 through  76-2,123.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-010

Current through June 17, 2024
The consent required from the employing broker for an associate broker or salesperson to represent another real estate broker or to accept a commission or other valuable consideration from anyone other than the employing broker as set forth in Neb. Rev. Stat. 81-885.24(7) and (8), respectively, shall be given in writing by the broker in advance of the licensee representing the other broker or the acceptance of the commission or other valuable consideration from the other party. A copy of the consent shall be maintained by the employing broker for five years following the date of such consent.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-011

Current through June 17, 2024
The word "Placing..." as used in 81-885.24(11) of the Nebraska Real Estate License Act shall also be construed to mean the retention of such sign. Written authorization is required to place and retain a sign, and the sign must be removed within a reasonable period of time after the termination of such written authorization.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-012

Current through June 17, 2024
A branch office is any location, other than the main office of a real estate business, where:
1) one or more licensees spend a substantial amount of time transacting real estate business requiring a license; and
2) such licensee(s) advertises that they can be contacted for real estate business purposes; and
3) such licensee(s) maintains what would, in the normal business context, be considered a business office. Nothing in this Section should be construed to include the advertising of a home phone number and address by a licensee in the alphabetical listing of subscribers section, or white pages, of the telephone directory to come within the branch office definition. A model home utilized as an office on a temporary basis would not be considered a branch office.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-013

Current through June 17, 2024
A real estate broker, who is not otherwise involved in the real estate transaction before a written agreement has been entered into for the purchase, sale, or exchange of the real estate, may close the real estate transaction as long as the broker complies with all provisions of the Nebraska Real Estate License Act and Rules of the Commission.
013.01 For the purpose 013 above, the word "close" refers to services as an independent party to perform the ministerial actions necessary to complete the transaction, which may include the receipt and disbursement of funds. When providing only the above ministerial actions, the broker shall disclose, in writing, to all parties to the transaction, prior to the closing of the transaction, that the broker is only providing this ministerial service and is not acting as an agent for either party. The disclosure shall be signed by both parties and a copy shall be maintained in accordance with 299 NAC 3-001.
013.02 Whenever a broker participates in a real estate transaction before a written agreement has been entered into for the purchase, sale, or exchange of real estate, the broker must fulfill the applicable obligations of a broker to the seller and the buyer in accordance with the provisions of the Nebraska Real Estate License Act and the Rules of the Commission.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-014

Current through June 17, 2024
In the event that a team or group leader's license is suspended or revoked, unless dissolved, the team or group must forthwith designate a new leader and provide the name of the new group leader to the team's designated broker. If a team or group member for whom the team or group is named has his or her license suspended or revoked the team must forthwith designate a new name for the team or group which does not use or incorporate the revoked or suspended licensee's name. This provision shall not apply to periods when a team or group member for whom the team or group is named is serving his or her suspension on probation.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 2 - BUSINESS PRACTICES; EMPLOYMENT OF SALESPERSON OR ASSOCIATE BROKER; ADVERTISING; SOLICITING LISTINGS OR REPRESENTATION; TRANSMISSION OF WRITTEN OFFERS TO OWNER; CLOSING REAL ESTATE TRANSACTIONS; GOOD FUNDS; REPRESENTING ANOTHER BROKER; RETENTION OF SIGNS; BRANCH OFFICES › Section 299-2-015

Current through June 17, 2024
The operative date of the amendments found in section 003 and 014 of this chapter shall be July 1, 2017.
Laws 1973, LB 68, §7; RS 1943, '81-885.07 (5) R. S. Supp., 1974. Effective date September 2, 1973.
Laws 1994, LB 1275, §3; RS 1943, '76-2,123 R.S. Cum. Supp., 1994. Effective date July 16, 1994.
Laws 2016, LB678, §3: RS 1943, §
									81-885.56 R.S. Cum. Supp., 2016, Effective Date, October 1, 2016.
Laws 2016, LB678, §4: RS 1943, §
									81-885.24 R.S. Cum. Supp., 2016, Effective Date, October 1, 2016.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-001

Current through June 17, 2024
A designated broker shall maintain a trust account as provided in §
									81-885.21
											  unless a waiver of the trust account requirement has been approved by the Director. When reviewing a waiver
											  application the Director may consider the volume of transactions the broker completes as well whether audit
											  reports on the broker indicate the required use of a trust account. A designated broker who obtains a trust
											  account waiver shall be required to maintain complete and accurate record of all client funds they may
											  receive or distribute.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-002

Current through June 17, 2024
A broker trust account will accurately and clearly disclose full
											  compliance with the law relating to the maintaining of such accounts including but not limited to, the
											  Nebraska Real Estate License Act and the Nebraska Real Estate Commission Trust Account Manual, which is
											  incorporated by reference into these regulations.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-003

Current through June 17, 2024
Every designated broker shall maintain and preserve records subject to
											  audit as identified in the Nebraska Real Estate Commission Trust Account Manual, Section II, B, Sales
											  Accounts, and Section III, B, Property Management Accounts under the broker's supervision as provided below:
003.01 instances where there is a real estate transaction which is
										consummated, records relating to the transaction shall be preserved for five years following its
										consummation.
003.02 In instances where a written listing or
										other agency agreement, is entered into, but no real estate transaction is consummated, records relating to
										such listing or agency shall be maintained for five years after the agency agreement is terminated or
										expires.
003.03 instances where a fully executed real estate
										purchase contract, lease, or other agreement creating or transferring title or an interest in real estate is
										entered into, but such contract or agreement is not consummated, records relating to the contract or
										agreement shall be maintained for five years after the agreement is terminated, expires, or ends through
										breach or default.
003.04 In instances where a broker's price
										opinion or comparative market analysis is performed for compensation other than a real estate commission or
										brokerage fee charged or paid for brokerage services rendered in connection with the sale of real estate,
										records related to such opinion or analysis shall be maintained for five years after such opinion or analysis
										is completed.
003.05 Records of team members and team leaders as
										required by Neb. Rev. Stat. §
									81-885.24(32)
										 shall be maintained for five years after such team dissolves or cease to
										engage in or hold itself out as engaging in real estate activity.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-004

Current through June 17, 2024
Funds referred to in Subsection (1) Section
											  81-885.21
											  of the Nebraska Real Estate License Act shall include but not be limited to earnest money deposits, money
											  received upon final settlements, rents, security deposits, money advanced by a buyer or seller for the
											  payment of expenses in connection with the closing of real estate transactions and money advanced by a
											  broker's principal for expenditures on behalf of such principal.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-005

Current through June 17, 2024
Funds deposited in the trust account will necessarily include monies
											  which will ultimately belong to the broker but such monies shall be separately identified in his or her trust
											  account records and shall be paid to the broker by check drawn on the trust account after the same are due
											  the broker. The fact that a trust account contains money belonging to the broker does not constitute
											  "commingling the money or other property of his or her principals with his or her own," as prohibited by
											  Subsection (4) Section
											  81-885.24
											  of the Nebraska Real Estate License Act.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-006

Current through June 17, 2024
Earnest money deposits and other deposits relating to the sale of real
											  estate shall be kept in a separately identified trust account and all other trust funds may be deposited in
											  another separately identified trust account.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-007

Current through June 17, 2024
In the case of cooperative sales between brokers, the selling broker,
											  unless all parties to the transaction with an interest in the funds have agreed otherwise in writing, shall
											  deposit the earnest money payment in his or her real estate trust account within 72 hours or before the end
											  of the next banking day, after an offer is accepted, in writing, and then forthwith transfer such earnest
											  money deposit to the listing broker by issuing a check drawn on the selling broker's trust account.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 3 - RECORDS; TRUST ACCOUNTS; REQUIREMENTS; DISPOSITION OF EARNEST DEPOSITS › Section 299-3-008

Current through June 17, 2024
In the event of a dispute over the return or forfeiture of any earnest
											  deposit held by a broker, the broker shall continue to hold said deposit in his or her trust account until he
											  or she has a written release from all parties consenting to its disposition or until a civil action is filed
											  to determine its disposition at which time the broker may pay it into court.
008.01 In the absence of a pending civil action, it shall not be grounds
										for disciplinary action where a broker returns an earnest money deposit to a purchaser, where the return of
										such deposit is based upon a good faith decision that a contingency in the purchase agreement has not been
										met, notwithstanding the failure of the seller to agree to said return.
008.02 In the absence of a pending civil action and upon the passage of
										one-year's time from the date of an accepted offer to purchase, it shall not be considered grounds for
										disciplinary action for a broker to pay out an earnest money deposit to a seller when the payment of such
										earnest money deposit has been based on a good faith decision that the buyer has abandoned any claim to such
										earnest money deposit.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 4 - SUBDIVISIONS; ADVERTISING; DESIGNATED NEBRASKA REAL ESTATE BROKER; FINANCIAL STATEMENT REQUIREMENTS › Section 299-4-001

Current through June 17, 2024
All advertising used in Nebraska, by a subdivider of subdivided lands in
											  promoting the sale of subdivided lands, must contain the name and address of the designated Nebraska real
											  estate broker representing the subdivider.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 4 - SUBDIVISIONS; ADVERTISING; DESIGNATED NEBRASKA REAL ESTATE BROKER; FINANCIAL STATEMENT REQUIREMENTS › Section 299-4-002

Current through June 17, 2024
Every designated broker promoting the sale of subdivided lands shall
											  submit a statement on forms provided by the Commission, accepting said designation and acknowledging
											  responsibility for the subdivider's actions in this state.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 4 - SUBDIVISIONS; ADVERTISING; DESIGNATED NEBRASKA REAL ESTATE BROKER; FINANCIAL STATEMENT REQUIREMENTS › Section 299-4-003

Current through June 17, 2024
The certified audited financial statement required by Neb. Rev. Stat.
											  Section
											  81-885.34(7)
											   shall be prepared in accordance with generally accepted accounting
											  principles and shall be the report of an independent certified public accountant, which report shall contain:
											  a balance sheet reporting assets, liabilities, capital and surplus; cash flows; and a statement of changes in
											  capital and surplus including all notes, references, and explanations of the accountant.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 5 - DISCIPLINARY MATTERS; COMMISSION DISPUTES; DISCUSSION BY COMMISSIONERS; ACTIONS DEMONSTRATING NEGLIGENCE, INCOMPETENCY, OR UNWORTHINESS › Section 299-5-001

Current through June 17, 2024
The Commission will not enter into disputes between licensees over
											  payment or division of commissions.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 5 - DISCIPLINARY MATTERS; COMMISSION DISPUTES; DISCUSSION BY COMMISSIONERS; ACTIONS DEMONSTRATING NEGLIGENCE, INCOMPETENCY, OR UNWORTHINESS › Section 299-5-002

Current through June 17, 2024
It shall be improper for a Real Estate Commissioner to discuss with a
											  licensee or any other person, except members of the Commission staff, any matter of a disciplinary nature
											  which is set for hearing by the Commission.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 7 - CONTINUING EDUCATION ACTIVITIES; REQUIRED HOURS; APPROVAL; RESTRICTIONS; DENIAL; REVOCATION; APPEAL PROCESS; RECORD KEEPING › Section 299-7-001

Current through June 17, 2024
Of the twelve hours of continuing education required in Section
											  81-885.51
											  of the Nebraska Real Estate License Act (a) six hours in each two-year period shall be taken in continuing
											  education activities which are derived from material covering ethical decision-making or federal or state
											  laws, rules, or regulations dealing with or pertaining to real estate or real estate transactions, and which
											  are approved and designated by the Commission as meeting this six-hour requirement, (b) three hours shall be
											  required in each two year period in a property management course or courses approved and designated by the
											  Commission as meeting this requirement for all licensees who provide property management services during such
											  two year period, or who supervise a licensee or licensees who provide property management services during
											  such two year period, and (c) three hours shall be required in courses on teams or team leadership which are
											  approved and so designated by the Commission for all team members, team leaders, and designated brokers who
											  supervise teams within 180 days after being designated a team member or team leader, or in the case of a
											  designated broker within 180 days of the creation of any team under the broker's supervision. Continuing
											  education taken on or after January 1, 2017 may be used to meet the requirements of section (c) of this
											  section.
001.01 Continuing education activities approved under this
										Section are not subject to the duplication provision as set forth in Section
										004.07 of this Chapter, except that continuing education
										activities approved under this Section and which are of the same content, or if in the opinion of the
										Commission so similar as to be indistinguishable in content, cannot be duplicated within the same two-year
										continuing education period.
001.02 For purposes of this chapter
										property management shall mean and include: Acting under a written contract as a third party for a landlord
										or owner of property in the collection and or holding of rent, deposits, or other monies from tenants for the
										benefit of the property owner.
001.03 Continuing education
										activities required under Section 001 (c) of this section shall meet the education requirements for the two
										year continuing education period in which they are taken and the ensuing two year continuing education
										period. Team members, team leaders and designated brokers who supervise teams shall complete the required
										team training a minimum of once every four years.
Nebraska Administrative Code › Topic - REAL ESTATE COMMISSION › Title 299 - NEBRASKA REAL ESTATE COMMISSION › Chapter 7 - CONTINUING EDUCATION ACTIVITIES; REQUIRED HOURS; APPROVAL; RESTRICTIONS; DENIAL; REVOCATION; APPEAL PROCESS; RECORD KEEPING › Section 299-7-002

Current through June 17, 2024
The six hours of training required in Section
											  81-885.51
											  of the Nebraska Real Estate License Act may be fulfilled by satisfactorily completing training activities
											  approved by the licensee's designated broker and recognized by the Commission
OR
by
											  satisfactorily completing Commission approved continuing education activities
OR
by some
											  combination of both. Training activity shall be required to be met and submitted as provided in the License
											  Act and these regulations beginning in calendar year 2012.