Chapter 45, INTEREST, LOANS, AND DEBT

245 sections in this chapter.

245 sectionsFiltered byCh 45

Neb. Rev. Stat. § 45-1,104 Federal interest rate limitations; rejected by state.
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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 52…
Neb. Rev. Stat. § 45-1,105 Terms, defined.
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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 …
Neb. Rev. Stat. § 45-1,106 Consumer credit transaction; default; notice required.
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(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 consum…
Neb. Rev. Stat. § 45-1,107 Consumer credit transaction; default; consumer's right to cure.
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(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 no…
Neb. Rev. Stat. § 45-1,108 Consumer credit transaction; voluntary surrender of goods; creditor's right to enforce security interest.
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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.
Neb. Rev. Stat. § 45-1,109 Consumer credit transactions; procedures; when applicable.
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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.
Neb. Rev. Stat. § 45-1,110 Consumer credit default procedures; not applicable to certain licensees.
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Sections 45-1,105 to 45-1,110 shall not apply to any licensee operating under the Nebraska Installment Loan and Sales Act.
Neb. Rev. Stat. § 45-1,111 Forced sale; disposition of certain proceeds.
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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.
Neb. Rev. Stat. § 45-1,112 Terms, defined.
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For purposes of sections 45-1,112 to 45-1,115: (1)(a) Credit agreement means: (i) A contract, promise, undertaking, offer, or commitment to loan money or to grant or extend credit; or (ii) A contract, promise, undertaking, or offer to forebear repayment of money or to make any ot…
Neb. Rev. Stat. § 45-1,113 Action or defense based on credit agreement; requirements.
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(1) A debtor or a creditor may not maintain an action or assert a defense in an action based on a credit agreement unless the credit agreement is in writing, expresses consideration, sets forth the relevant terms and conditions of the credit agreement, and is signed by the credit…
Neb. Rev. Stat. § 45-1,114 Implied credit agreement; limitations.
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A credit agreement shall not be implied under any circumstances from (1) the relationship, fiduciary or otherwise, of the creditor and the debtor, (2) the rendering of financial advice by a creditor to a debtor, or (3) consultation by a creditor with a debtor.
Neb. Rev. Stat. § 45-1,115 Sections; applicability.
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Sections 45-1,112 to 45-1,115 shall apply to credit agreements entered into on or after July 10, 1990.
Neb. Rev. Stat. § 45-101.02 Terms, defined.
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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) …
Neb. Rev. Stat. § 45-101.03 General interest rate; maximum; variable rate authorized; conditions.
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(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 s…
Neb. Rev. Stat. § 45-101.04 General interest rate; maximum; when not applicable.
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The limitation on the rate of interest provided in section 45-101.03 shall not apply to: (1) Other rates of interest authorized for loans made by any licensee or permittee operating under a license or permit duly issued by the Department of Banking and Finance pursuant to the Cre…
Neb. Rev. Stat. § 45-101.05 Mortgage loan; escrow account; how established and maintained.
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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 re…
Neb. Rev. Stat. § 45-101.06 Escrow accounts; not required.
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It is not the intent of sections 45-101.05 to 45-101.07 to require that escrow accounts be required or established.
Neb. Rev. Stat. § 45-101.07 Violations; penalty.
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Any lender who violates any of the provisions of section 45-101.05 shall be guilty of a Class IV misdemeanor.
Neb. Rev. Stat. § 45-102 Interest; legal rate; exception.
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Interest upon the loan or forbearance of money, goods or things in action shall be at the rate of twelve percent per annum for the period commencing on March 19, 1980, through August 31, 1983, and at the rate of six percent per annum commencing on September 1, 1983, on the unpaid…
Neb. Rev. Stat. § 45-103 Interest; judgments; decrees; rate; exceptions.
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For decrees and judgments rendered before July 20, 2002, interest on decrees and judgments for the payment of money shall be fixed at a rate equal to one percentage point above the bond equivalent yield, as published by the Secretary of the Treasury of the United States, of the a…
Neb. Rev. Stat. § 45-103.01 Postjudgment interest; accrual; when.
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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.
Neb. Rev. Stat. § 45-103.02 Prejudgment interest; accrual; when; conditions.
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(1) Except as provided in section 45-103.04, interest as provided in section 45-103 shall accrue on the unpaid balance of unliquidated claims from the date of the plaintiff's first offer of settlement which is exceeded by the judgment until the entry of judgment if all of the fol…
Neb. Rev. Stat. § 45-103.03 Interest; how computed.
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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.
Neb. Rev. Stat. § 45-103.04 Prejudgment interest; exceptions.
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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 subdiv…
Neb. Rev. Stat. § 45-104 Interest; other contract obligations.
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Unless otherwise agreed, interest shall be allowed at the rate of twelve percent per annum on money due on any instrument in writing, or on settlement of the account from the day the balance shall be agreed upon, on money received to the use of another and retained without the ow…
Neb. Rev. Stat. § 45-104.01 Interest; political subdivisions; delinquent taxes; special assessments.
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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.
Neb. Rev. Stat. § 45-104.02 Interest; State of Nebraska; delinquent taxes; special assessments; credits or refunds.
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(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 determin…
Neb. Rev. Stat. § 45-105 Usury; penalty.
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If a greater rate of interest than is allowed in section 45-101.03 shall be contracted for or received or reserved, the contract shall not on that account be void, but if in any action on such contract, proof be made that illegal interest has been directly or indirectly contracte…
Neb. Rev. Stat. § 45-106 Interest; warrants or orders.
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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 present…
Neb. Rev. Stat. § 45-107 Interest; effect on purchase of certain lands.
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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.
Neb. Rev. Stat. § 45-108 Interest; rate; when calculated by the year.
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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.
Neb. Rev. Stat. § 45-109 Contracts for payment of money or indebtedness; when usurious.
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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 …
Neb. Rev. Stat. § 45-110 Usurious contracts; limit of recovery.
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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…
Neb. Rev. Stat. § 45-1101 Act, how cited.
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Sections 45-1101 to 45-1107 shall be known and may be cited as the Guaranteed Asset Protection Waiver Act.
Neb. Rev. Stat. § 45-1102 Purpose of act; exclusions from act; exemption from insurance requirements.
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(1) The purpose of the Guaranteed Asset Protection Waiver Act is to provide a framework within which guaranteed asset protection waivers are offered, sold, and provided in this state. (2) The act does not apply to: (a) An insurance policy offered by an insurer under the insurance…
Neb. Rev. Stat. § 45-1103 Terms, defined.
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For purposes of the Guaranteed Asset Protection Waiver Act: (1) Borrower means a debtor, retail buyer, or lessee under a finance agreement; (2) Creditor means: (a) The lender in a loan or credit transaction involving a motor vehicle; (b) The lessor in a lease transaction involvin…
Neb. Rev. Stat. § 45-1104 Guaranteed asset protection waivers; not insurance; exempt from insurance laws; sale options; separate statement of cost; part of finance agreement; sale and marketing restrictions.
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(1) Guaranteed asset protection waivers offered, sold, or provided to borrowers under the terms of the Guaranteed Asset Protection Waiver Act are not insurance and are exempt from the insurance laws of this state. Persons marketing, selling, or offering to sell guaranteed asset p…
Neb. Rev. Stat. § 45-1105 Guaranteed asset protection waiver; disclosures required.
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Guaranteed asset protection waivers shall disclose, as applicable, in writing and in clear, understandable language that is easy to read, the following: (1) The name and address of the initial creditor or the creditor's designee and the borrower at the time of sale; (2) The purch…
Neb. Rev. Stat. § 45-1106 Guaranteed asset protection waiver agreement; authorized terms; cancellation or early termination of finance agreement; refund; calculation; disposition.
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(1) Guaranteed asset protection waiver agreements may be cancelable or noncancelable after the free-look period. A creditor or the creditor's designee may offer a borrower a waiver that does not provide for a refund if the creditor or the creditor's designee also offers the borro…
Neb. Rev. Stat. § 45-1107 Modification of guaranteed asset protection waiver; limitations.
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The creditor or the creditor's designee shall not offer a guaranteed asset protection waiver when the guaranteed asset protection waiver contains terms that allow the creditor or the creditor's designee to modify, unilaterally, the guaranteed asset protection waiver, unless (1) t…
Neb. Rev. Stat. § 45-111 Usury; civil proceedings; testimony of lender compellable.
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Any person charged with taking illegal interest may be required to answer touching the same, on oath, in any civil proceeding.
Neb. Rev. Stat. § 45-112 Usury; relief; tender of principal unnecessary.
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Relief to the complaining party in case of an usurious loan may be given without payment or tender by him of the principal sum.
Neb. Rev. Stat. § 45-113 Usury; witness; testimony not evidence in criminal proceeding, when.
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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…
Neb. Rev. Stat. § 45-1201 Act, how cited.
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Sections 45-1201 to 45-1211 shall be known and may be cited as the Nebraska Construction Prompt Pay Act.
Neb. Rev. Stat. § 45-1202 Terms, defined.
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For purposes of the Nebraska Construction Prompt Pay Act: (1) Contractor includes individuals, firms, partnerships, limited liability companies, corporations, or other associations of persons engaged in the business of the construction, alteration, repairing, dismantling, or demo…
Neb. Rev. Stat. § 45-1203 Contractor; payment; payment request; subcontractor; payment; retainage; payment.
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(1) When a contractor has performed work in accordance with the provisions of a contract with an owner, the owner shall pay the contractor within thirty days after receipt by the owner or the owner's representative of a payment request made pursuant to the contract. (2) When a su…
Neb. Rev. Stat. § 45-1204 Withholdings; authorized.
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When work has been performed pursuant to a contract, an owner, a contractor, or a subcontractor may only withhold payment: (1) For retainage, in an amount not to exceed the amount specified in the applicable contract, which shall not exceed a rate of ten percent. If the scope of …
Neb. Rev. Stat. § 45-1205 Delay in payment; additional interest payment.
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Except as provided in section 45-1204, if a periodic or final payment to (1) a contractor is delayed by more than thirty days after receipt of a properly submitted periodic or final payment request by the owner or owner's representative or (2) a subcontractor is delayed by more t…
Neb. Rev. Stat. § 45-1206 Other remedies available.
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The Nebraska Construction Prompt Pay Act shall not modify the remedies available to any person under the terms of a contract in existence prior to October 1, 2010, or by any other statute.
Neb. Rev. Stat. § 45-1207 Residential real property; applicability of act.
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The Nebraska Construction Prompt Pay Act does not apply to improvements to real property intended for residential purposes when the residence consists of no more than four residential units.