Chapter 45 — INTEREST, LOANS, AND DEBT
464 sections in this chapter.
Neb. Rev. Stat. § 45-364 Installment sales contract; requirements.
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(1) Each retail installment sales contract shall be in writing, shall be signed by both the buyer and the seller, and shall contain the following items, and a copy thereof shall be delivered to the buyer at the time the instrument is signed, except for contracts made in conforman…
Neb. Rev. Stat. § 45-365 Installment sales contract; time-price differential; rate; maximum; origination fee.
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(1)(a) Notwithstanding the provisions of any other law, the time-price differential for any goods or services sold under an installment sales contract shall be stated as a fixed or variable annual percentage rate and shall be at a rate agreed to in writing, not to exceed eighteen…
Neb. Rev. Stat. § 45-366 Installment sales contract; insurance; policy; cancellation; premium refund; fee.
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(1) The amount, if any, included for insurance, which may be purchased by the holder of the contract, shall not exceed the applicable premium rates chargeable in accordance with filings, if any, with the Department of Insurance. If dual interest insurance on the goods is purchase…
Neb. Rev. Stat. § 45-367 Installment sales contract; prepayment; rebate; how computed.
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(1) Notwithstanding the provisions of any contract to the contrary, any buyer may prepay in full at any time before maturity the obligation of any contract. (2) If such obligation is prepaid in full by cash, a new loan, or otherwise after the first installment due date, the borro…
Neb. Rev. Stat. § 45-368 Installment sales contract; subsequent purchases; consolidate with previous contract; requirements.
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(1) Where a buyer makes any subsequent purchases of goods or services from a seller from whom such buyer has previously purchased goods or services under one or more installment sales contracts and the amounts under such contract or contracts to the extent of cash sale price ther…
Neb. Rev. Stat. § 45-369 Installment sales contract; delinquency charges; limitations; fee.
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(1) An installment sales contract may provide and the holder thereof may collect, in addition to any time-price differential, a delinquency charge on each installment in default for a period of not less than fifteen days, if provided for in the contract, not in excess of five per…
Neb. Rev. Stat. § 45-370 Installment sales contract; extension or deferment authorized; when; fee.
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The holder of a retail installment sales contract may, upon agreement with the buyer: (1) Extend the scheduled due date or defer the scheduled payment of any installment payment under the retail installment sales contract; and (2) Charge and collect a reasonable flat service fee …
Neb. Rev. Stat. § 45-371 Installment sales contract; excess charges; contract void and uncollectible; civil suit.
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(1) If any seller or sales finance company, in the making or collection of an installment sales contract, shall, directly or indirectly, contract for, take, or receive charges in excess of those authorized by the Nebraska Installment Loan and Sales Act except as a result of an ac…
Neb. Rev. Stat. § 45-372 Licensee; prohibited acts; cease and desist order; false statement; penalty.
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(1) A licensee shall not refuse to enter into a loan or impose finance charges or other terms or conditions of credit more onerous than those regularly extended by that licensee to borrowers of similar economic backgrounds because of the age, color, creed, national origin, politi…
Neb. Rev. Stat. § 45-373 License and registration under Nationwide Mortgage Licensing System and Registry; department; powers and duties; director; powers and duties; information sharing.
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(1) The department shall require licensees 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 participate in the Nationwide Mortgage Licensing System and Registry. Fo…
Neb. Rev. Stat. § 45-374 Rules and regulations; orders, rulings, demands, and findings.
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The director may adopt and promulgate rules and regulations and issue orders, rulings, demands, and findings to carry out the purposes of the Nebraska Installment Loan and Sales Act.
Neb. Rev. Stat. § 45-375 Installment loans; violations; penalty; effect on loan; liability.
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Any person violating subsection (4) of section 45-345 or section 45-349, 45-356, or 45-359 is guilty of a Class II misdemeanor. If, in the making of, or collection on, any loan contract, any act is done which constitutes a Class II misdemeanor under this section, that loan shall …
Neb. Rev. Stat. § 45-376 Violations by licensee; action by borrower; damages; liability.
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Any violation of section 45-372, in connection with any loan transaction, however acquired, shall not render the indebtedness, any interest, or other charges void or uncollectible. In an action, other than a class action, the borrower may recover from the licensee violating secti…
Neb. Rev. Stat. § 45-377 Installment loans; enforcement of provisions; cease and desist order; injunction.
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Whenever the director has reasonable cause to believe that any person is violating or is threatening to or intends to violate the Nebraska Installment Loan and Sales Act, the director may, in addition to any action provided in the act and without prejudice thereto, enter an order…
Neb. Rev. Stat. § 45-378 Cease and desist order; hearing; judicial review; enforcement; fine.
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(1) The department may order any person to cease and desist whenever the department determines that the person has violated any provision of the Nebraska Installment Loan and Sales Act. Upon entry of a cease and desist order, the director shall promptly notify the affected person…
Neb. Rev. Stat. § 45-379 Administrative fine; procedure; lien.
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(1) The director may, following a hearing under the Administrative Procedure Act, impose an administrative fine against any officer, director, shareholder, partner, or member of a licensee, if the director finds the licensee or any such person participated in or had knowledge of …
Neb. Rev. Stat. § 45-380 Fees, charges, and costs; remittance.
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All original license fees, annual renewal fees, investigation and examination fees, charges, and costs collected by or paid to the department pursuant to the Nebraska Installment Loan and Sales Act shall be remitted to the State Treasurer for credit to the Financial Institution A…
Repealed. Laws 1973, LB 3, § 1.
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[Repealed or reserved.]
Repealed. Laws 1973, LB 3, § 1.
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[Repealed or reserved.]
Repealed. Laws 1973, LB 3, § 1.
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[Repealed or reserved.]
Repealed. Laws 1973, LB 3, § 1.
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[Repealed or reserved.]
Repealed. Laws 1973, LB 3, § 1.
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[Repealed or reserved.]
Repealed. Laws 1973, LB 3, § 1.
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[Repealed or reserved.]
Repealed. Laws 1973, LB 3, § 1.
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[Repealed or reserved.]
Repealed. Laws 1989, LB 3, § 2.
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[Repealed or reserved.]
Repealed. Laws 1969, c. 45, § 3.
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[Repealed or reserved.]
Repealed. Laws 1969, c. 45, § 3.
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[Repealed or reserved.]
Neb. Rev. Stat. § 45-601 Act, how cited; collection agency; license required; violation; penalty; foreign agency; communication authorized.
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Sections 45-601 to 45-622 shall be known and may be cited as the Collection Agency Act. No person, firm, corporation, or association shall conduct or operate a collection agency or do a collection agency business as defined in the act until he, she, or it has secured a license as…
Neb. Rev. Stat. § 45-602 Terms, defined.
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For purposes of the Collection Agency Act: (1) Board means the Collection Agency Licensing Board; (2) Collection agency means and includes: (a) All persons, firms, corporations, and associations directly or indirectly engaged in soliciting, from more than one person, firm, corpor…
Neb. Rev. Stat. § 45-603 Collection Agency Licensing Board; created; members; term; expenses; employees; Secretary of State; duties.
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(1) There is hereby created the Collection Agency Licensing Board which shall consist of the Secretary of State, who shall be chairperson of the board, and four members appointed by the Governor. Three of the members appointed by the Governor shall be licensees actively engaged i…
Neb. Rev. Stat. § 45-604 Board; adopt rules and regulations.
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The board may enact rules and regulations relating to the administration of, but not inconsistent with, the Collection Agency Act.
Neb. Rev. Stat. § 45-605 Board; duties; application for license; filing; issuance; denial; appeal.
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The board shall be responsible for the administration of the Collection Agency Act. All applications for licenses provided for in the act shall be made to the board. If the applicant is an individual, the application shall include the applicant's social security number. The board…
Neb. Rev. Stat. § 45-605.01 Nationwide Mortgage Licensing System and Registry; licensure and registration; requirements.
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(1) Effective October 1, 2020, or within one year after the Nationwide Mortgage Licensing System and Registry is capable of processing licenses issued under the Collection Agency Act, whichever is later, the board, upon its discretion, may require licensees under the act to be li…
Neb. Rev. Stat. § 45-606 License; application; fees; financial statement; form.
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(1) Any person, firm, corporation, or association desiring to engage in this state in the collection business under the Collection Agency Act shall make written and sworn application for such license to the board upon a form to be prescribed by the board, which application shall …
Neb. Rev. Stat. § 45-607 License; qualifications of licensee.
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(1) The license provided for by section 45-606 shall be granted only to applicants who are trustworthy, who have a good reputation for honesty and fair dealings, who are financially responsible, and who are, in the opinion of the board, competent to engage in the collection of ac…
Neb. Rev. Stat. § 45-608 Licensee; bond; conditions.
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No license shall be issued under section 45-607 until the applicant has furnished a good and sufficient corporate surety bond in the sum of fifteen thousand dollars for those agencies or foreign corporations having sixteen or more licensed solicitors, ten thousand dollars for any…
Neb. Rev. Stat. § 45-609 License; form; display.
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The license provided for in section 45-607 shall be in such form as prescribed by the board. If the licensee maintains a branch office, the licensee shall not do a collection agency business in such branch office until the licensee has secured a branch office certificate for such…
Neb. Rev. Stat. § 45-610 Licensee; employees; solicitor's certificates; form.
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The board shall, upon written application by a licensee and the payment of the fee as set forth in section 45-620 and any processing fee allowed under section 45-605.01, issue solicitor's certificates to employees of the licensee who solicit or collect accounts, which certificate…
Neb. Rev. Stat. § 45-611 Licenses; certificates; expiration; renewal; application; time.
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(1) All licenses and certificates issued under the Collection Agency Act shall expire on December 31 following the date of issuance unless renewed as provided in this section prior to such date. All branch office certificates and solicitor's certificates shall continue in full fo…
Neb. Rev. Stat. § 45-612 Licensee; solicitor; violation; conviction; revocation; hearing; order.
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Upon final conviction of any licensee or solicitor by any court in Nebraska of fraud or embezzlement or upon final judgment against such licensee or solicitor in any court in Nebraska for fraud or embezzlement or for failure to account to his, her, or its client or customer withi…
Neb. Rev. Stat. § 45-613 Licensee; solicitor; complaint; citation; notice; hearing.
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The board may, upon its own motion, and shall, upon the sworn complaint of any customer or client of a licensee, cite such licensee or solicitor of such licensee to appear before it at a time and place as set forth in such citation to show cause, if any, why such license or certi…
Neb. Rev. Stat. § 45-614 Licensee; solicitor; citation; power to issue subpoenas; depositions.
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In the preparation for and the conduct of a hearing held pursuant to section 45-613, the board may issue subpoenas to require the attendance and testimony of witnesses and the production of any pertinent records, papers, books, and documents and may administer oaths, examine witn…
Neb. Rev. Stat. § 45-615 Licensee; solicitor; citation; hearing; board; findings; powers.
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After a hearing held pursuant to sections 45-613 and 45-614, the board shall state in writing its findings in the matter. If the board finds that the cited licensee or solicitor has failed to comply with the intent and purposes of the Collection Agency Act or, in the case of a li…
Neb. Rev. Stat. § 45-616 License; solicitor's certificate; appeals; procedure.
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Any refusal to grant a license or solicitor's certificate under the Collection Agency Act or the suspension or revocation of a license or solicitor's certificate may be appealed, and the appeal shall be in accordance with the Administrative Procedure Act.
Neb. Rev. Stat. § 45-617 Licensee; solicitor's certificate; appeal; effect.
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Pending final determination of an appeal as provided in section 45-616, the holder of a license or the holder of a solicitor's certificate shall be permitted to do business as a collection agency or as a collection agency solicitor the same as though such license or certificate w…
Neb. Rev. Stat. § 45-618 Licensee; change place of business; notify Secretary of State; new license; issuance; solicitor; employment terminated; return certificate.
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If a licensed collection agency or its branch office changes the location of its place of business, the licensee shall forthwith notify the Secretary of State of such change and the Secretary of State shall thereupon issue a new license or branch office certificate, as the case m…
Neb. Rev. Stat. § 45-619 Licensee; board; require financial statement; confidential.
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The board may, at any time, require a licensee to submit a verified financial statement for examination so that it may determine whether the licensee is financially responsible to carry on a collection agency business within the intents and purposes of the Collection Agency Act. …
Neb. Rev. Stat. § 45-620 License; certificates; fees.
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No license, renewal of license, branch office certificate, or solicitor's certificate, as provided for in the Collection Agency Act, shall be issued by the board until any processing fee allowed under section 45-605.01 has been paid and the following fees have been paid to the Se…
Repealed. Laws 2020, LB910, § 49.
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[Repealed or reserved.]
Neb. Rev. Stat. § 45-622 Licensee; solicitor; prohibited from practice of law.
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Nothing in the Collection Agency Act shall be construed to authorize or permit the holder of a license or the holder of a solicitor's certificate, as provided for in the act, to engage in the practice of law.