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