Chapter 45, INTEREST, LOANS, AND DEBT
245 sections in this chapter.
Neb. Rev. Stat. § 45-809 Waiver of rights; void.
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A credit services organization shall not attempt to cause a buyer to waive a right under the Credit Services Organization Act. A purported waiver by a buyer of any part of the act shall be void.
Neb. Rev. Stat. § 45-810 Damages.
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A buyer injured by a violation of the Credit Services Organization Act may bring an action for recovery of damages. The damages awarded shall not be less than the amount paid by the buyer to the credit services organization plus reasonable attorney's fees and court costs.
Neb. Rev. Stat. § 45-811 Violation; injunction.
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The Attorney General or a buyer may bring an action in district court to enjoin a violation of the Credit Services Organization Act.
Neb. Rev. Stat. § 45-812 Violation; deceptive trade practice.
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A violation of the Credit Services Organization Act shall be a deceptive trade practice under the Uniform Deceptive Trade Practices Act.
Neb. Rev. Stat. § 45-813 Statute of limitations.
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An action may not be brought under section 45-810 or 45-812 after four years after the date of the execution of the contract for services to which the action relates.
Neb. Rev. Stat. § 45-814 Violation; penalty.
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A person who violates the Credit Services Organization Act shall be guilty of a Class II misdemeanor.
Neb. Rev. Stat. § 45-815 Remedies.
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The remedies provided by the Credit Services Organization Act shall be in addition to other remedies provided by law.
Neb. Rev. Stat. § 45-901 Act, how cited.
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Sections 45-901 to 45-931 shall be known and may be cited as the Delayed Deposit Services Licensing Act.
Neb. Rev. Stat. § 45-902 Terms, defined.
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For purposes of the Delayed Deposit Services Licensing Act: (1) Annual percentage rate means an annual percentage rate as determined under section 107 of the federal Truth in Lending Act, 15 U.S.C. 1606, as such section existed on January 1, 2020, and includes all fees, interest,…
Neb. Rev. Stat. § 45-903 Act; not applicable to financial institutions.
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The Delayed Deposit Services Licensing Act shall not apply to a financial institution organized under the laws of this state or the laws of the United States.
Neb. Rev. Stat. § 45-904 License required; void transaction; effect.
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No person shall operate a delayed deposit services business or make or offer a delayed deposit transaction in this state unless the person is licensed by the director as provided in the Delayed Deposit Services Licensing Act. Any delayed deposit transaction that is made by a pers…
Neb. Rev. Stat. § 45-905 Application for license; form; contents; criminal history record information check.
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(1) An applicant for a license shall submit an application, under oath, to the director on forms prescribed by the director. The forms shall contain such information as the director may prescribe, including, but not limited to: (a) The applicant's financial condition; (b) The qua…
Neb. Rev. Stat. § 45-905.01 Nationwide Mortgage Licensing System and Registry; licensees; requirements; director; powers and duties.
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(1) On and after January 1, 2021, licensees under the Delayed Deposit Services Licensing Act are required to be licensed and registered through the Nationwide Mortgage Licensing System and Registry. In order to carry out this requirement, the department is authorized to participa…
Neb. Rev. Stat. § 45-906 Application; fees; bond.
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The application required by section 45-905 shall be accompanied by: (1) A nonrefundable application fee of five hundred dollars and any processing fee allowed under subsection (2) of section 45-905.01; and (2) A surety bond in the base amount of fifty thousand dollars which, on o…
Neb. Rev. Stat. § 45-907 Application; notice of filing; publication; hearing; investigation; costs.
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(1) When an application for a delayed deposit services business license has been accepted by the director as substantially complete, notice of the filing of the application shall be published by the director for three successive weeks in a legal newspaper published in or of gener…
Neb. Rev. Stat. § 45-908 License; issuance; conditions.
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The director shall issue a license to an applicant, if, after public hearing and any investigation of the applicant, the director determines that: (1) The experience, character, and general fitness of the applicant and its officers, directors, shareholders, partners, or members a…
Neb. Rev. Stat. § 45-909 Application for license; timely action of director required; appeal.
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The director shall approve or deny an application for a license by written order not more than ninety days after the filing of a substantially complete application. Failure of the director to act on a substantially complete application within ninety days shall constitute approval…
Neb. Rev. Stat. § 45-910 License; posting; renewal; fees.
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(1) A license issued pursuant to the Delayed Deposit Services Licensing Act shall be conspicuously posted at the licensee's place of business. (2)(a) Except as provided in subdivision (2)(b) of this section, all licenses shall remain in effect until the next succeeding May 1, unl…
Neb. Rev. Stat. § 45-911 Surrender of license; effect.
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A licensee may surrender a delayed deposit services business license by delivering to the director written notice that the license is surrendered and any processing fee allowed under subsection (2) of section 45-905.01. The department may issue a notice of cancellation of the lic…
Neb. Rev. Stat. § 45-912 Licensee; duty to inform director; when; breach of security of the system; notification.
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(1) A licensee shall be required to notify the director in writing through the Nationwide Mortgage Licensing System and Registry within thirty days after the occurrence of any material development, including, but not limited to: (a) Bankruptcy or corporate reorganization; (b) Bus…
Neb. Rev. Stat. § 45-913 License; not transferable or assignable.
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A license issued pursuant to the Delayed Deposit Services Licensing Act shall not be transferable or assignable.
Neb. Rev. Stat. § 45-914 Change in control of licensee; approval required.
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The prior written approval of the director shall be required whenever a change in control of a licensee is proposed. Control in the case of a corporation shall mean (1) direct or indirect ownership or the right to control ten percent or more of the voting shares of the corporatio…
Neb. Rev. Stat. § 45-915 Licensee; principal place of business; change of location; branch offices; approval required; fees.
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(1) Except as provided in subsection (2) of this section, a licensee, on or before December 31, 2020, may offer a delayed deposit services business only at an office designated as its principal place of business in the application. A licensee may change the location of its design…
Neb. Rev. Stat. § 45-915.01 Licensee; books and records.
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(1) Each licensee shall keep or make available the books and records relating to transactions made under the Delayed Deposit Services Licensing Act as are necessary to enable the department to determine whether the licensee is complying with the act. The books and records shall b…
Neb. Rev. Stat. § 45-916 Operating with other business; conditions.
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A licensee may operate a delayed deposit services business at a location where any other business is operated or in association or conjunction with any other business if: (1) The books, accounts, and records of the delayed deposit services business are kept and maintained separat…
Neb. Rev. Stat. § 45-917 Licensee; written notice; contents; fees, charges, and penalties; posting required.
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(1)(a) Every licensee shall, at the time any delayed deposit transaction is made, give to the maker of the check, or if there are two or more makers, to one of them, a notice written in plain English disclosing: (i) The name of the maker, transaction date, and transaction amount;…
Neb. Rev. Stat. § 45-918 Annual percentage rate; violation; effect; fee; limitation.
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(1) A licensee shall not impose an annual percentage rate greater than thirty-six percent in connection with a delayed deposit transaction. Any delayed deposit transaction made in violation of this section is void, and the licensee making such delayed deposit transaction has no r…
Neb. Rev. Stat. § 45-918.01 Returned check; collection; returned check charge; court costs; attorney's fees.
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If a check held by a licensee as a result of a delayed deposit transaction is returned unpaid to the licensee from a payor financial institution due to insufficient funds, a closed account, a stop-payment order, or any other reason, not including a bank error, the licensee shall …
Neb. Rev. Stat. § 45-918.02 Prepayment; how treated.
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A licensee shall accept prepayment from a maker prior to the due date without charging the maker a penalty of any kind.
Neb. Rev. Stat. § 45-918.03 Rescission; redemption.
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(1) A maker shall have the right to rescind a delayed deposit transaction before 5 p.m. the next business day following the delayed deposit transaction. (2) Prior to the licensee negotiating or presenting the check, the maker shall have the right to redeem any check held by a lic…
Neb. Rev. Stat. § 45-918.04 Licensee; payment options; electronic payment with authorization.
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(1) A licensee may pay the proceeds from a delayed deposit transaction or rebate to the maker in the form of check, money order, cash, stored value card, Internet transfer, or authorized automated clearinghouse transaction. Neither the licensee nor any affiliate of the licensee s…
Neb. Rev. Stat. § 45-919 Acts prohibited.
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(1) No licensee shall: (a) At any one time hold from any one maker more than two checks; (b) At any one time hold from any one maker a check or checks in an aggregate face amount of more than five hundred dollars; (c) Hold or agree to hold a check for more than thirty-four days. …
Neb. Rev. Stat. § 45-919.01 Extended payment plan; request; terms; default.
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(1) A maker who cannot pay back a delayed deposit transaction when it is due may elect once in any twelve-month period to repay the delayed deposit transaction to the licensee by means of an extended payment plan. (2) To request an extended payment plan, the maker, before the due…
Neb. Rev. Stat. § 45-920 Director; examination of licensee; powers; costs.
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(1) The director shall examine the books, accounts, and records of each licensee no more often than annually, except as provided in section 45-921. The costs of the director incurred in an examination shall be paid by the licensee as set forth in sections 8-605 and 8-606. (2) The…
Neb. Rev. Stat. § 45-921 Alleged violations; director; powers and duties.
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(1) The director may examine or investigate complaints about or reports of alleged violations of the Delayed Deposit Services Licensing Act or any rule, regulation, or order of the director thereunder. The director may order the actual cost of such examination or investigation to…
Neb. Rev. Stat. § 45-922 Licensee; disciplinary actions; failure to renew.
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(1) The director may, following a hearing in accordance with the Administrative Procedure Act, suspend or revoke any license issued pursuant to the Delayed Deposit Services Licensing Act if he or she finds: (a) A licensee or any of its officers, directors, partners, or members ha…
Neb. Rev. Stat. § 45-923 Cease and desist order; procedure; appeal.
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If the director believes that any person has engaged in or is about to engage in any act or practice constituting a violation of the Delayed Deposit Services Licensing Act or any rule, regulation, or order of the director, the director may issue a cease and desist order and prohi…
Neb. Rev. Stat. § 45-924 Injunction, restraining order, or writ of mandamus.
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If the director believes that any person has engaged in or is about to engage in any act or practice constituting a violation of the Delayed Deposit Services Licensing Act or a violation of any rule, regulation, or order of the director thereunder, the director may initiate an ac…
Neb. Rev. Stat. § 45-925 Violations; orders authorized; administrative fine; lien; failure to pay; separate violation.
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(1) If the director finds, after notice and hearing in accordance with the Administrative Procedure Act, that any person has violated the Delayed Deposit Services Licensing Act or any rule, regulation, or order of the director thereunder, the director may order such person to pay…
Neb. Rev. Stat. § 45-926 Operating without a license; penalty.
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Any person required to be licensed under the Delayed Deposit Services Licensing Act who operates a delayed deposit services business in this state without first obtaining a license under the act or while such license is suspended or revoked by the director shall be guilty of a Cl…
Neb. Rev. Stat. § 45-927 Fees, charges, costs, and fines; distribution.
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(1) The director shall collect fees, charges, costs, and fines under the Delayed Deposit Services Licensing Act and remit them to the State Treasurer. Except as provided in subsection (2) of this section, the State Treasurer shall credit the fees, charges, and costs to the Financ…
Neb. Rev. Stat. § 45-928 Personal jurisdiction over licensee.
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Obtaining a license pursuant to the Delayed Deposit Services Licensing Act shall constitute sufficient contact with the state for the exercise of personal jurisdiction over the licensee in any action arising out of the licensee's activities in this state.
Neb. Rev. Stat. § 45-929 Director; rules and regulations; additional powers.
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The director may adopt and promulgate rules and regulations and issue orders, rulings, findings, and demands as may be necessary to carry out the purposes of the Delayed Deposit Services Licensing Act.
Neb. Rev. Stat. § 45-930 Financial Literacy Cash Fund; created; use; investment.
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The Financial Literacy Cash Fund is created. The fund shall consist of amounts credited to the fund from that portion of each renewal fee as provided in section 45-927, such other revenue as is incidental to administration of the fund, and transfers authorized by the Legislature.…
Neb. Rev. Stat. § 45-931 Licensees; annual report; contents; department; duties; report.
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(1) Licensees shall, on an annual basis, provide the following information to the director, in a uniform manner prescribed by the department: Total number of makers; total number of transactions; average transaction size; total contracted transaction charges; total transaction ac…