45-1,100 – Transferred to section 45-1064.

45-1,100. Transferred to section 45-1064.

45-1,101 – Transferred to section 45-1065.

45-1,101. Transferred to section 45-1065.

45-1,102 – Transferred to section 45-1066.

45-1,102. Transferred to section 45-1066.

45-1,103 – Transferred to section 45-1067.

45-1,103. Transferred to section 45-1067.

45-1,104 – Federal interest rate limitations; rejected by state.

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 […]

45-1,105 – Terms, defined.

45-1,105. Terms, defined. 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 of a transaction if the money, […]

45-1,106 – Consumer credit transaction; default; notice required.

45-1,106. Consumer credit transaction; default; notice required. (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 […]

45-1,107 – Consumer credit transaction; default; consumer’s right to cure.

45-1,107. Consumer credit transaction; default; consumer’s right to cure. (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 notice of the consumer’s […]

45-1,108 – Consumer credit transaction; voluntary surrender of goods; creditor’s right to enforce security interest.

45-1,108. Consumer credit transaction; voluntary surrender of goods; creditor’s right to enforce security interest. 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. Source Laws 1983, […]

45-1,109 – Consumer credit transactions; procedures; when applicable.

45-1,109. Consumer credit transactions; procedures; when applicable. 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. Source Laws 1983, LB 111, § 5; […]

45-1,110 – Consumer credit default procedures; not applicable to certain licensees.

45-1,110. Consumer credit default procedures; not applicable to certain licensees. Sections 45-1,105 to 45-1,110 shall not apply to any licensee operating under the Nebraska Installment Loan Act. Source Laws 1983, LB 111, § 6; Laws 1997, LB 555, § 26; Laws 2001, LB 53, § 100. Cross References Nebraska Installment Loan Act, see section 45-1001.

45-1,111 – Forced sale; disposition of certain proceeds.

45-1,111. Forced sale; disposition of certain proceeds. 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. Source Laws 1987, LB 335, § 3.

45-1,112 – Terms, defined.

45-1,112. Terms, defined. 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 other financial accommodation in connection with a […]

45-1,113 – Action or defense based on credit agreement; requirements.

45-1,113. Action or defense based on credit agreement; requirements. (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 […]

45-1,114 – Implied credit agreement; limitations.

45-1,114. Implied credit agreement; limitations. 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. Source Laws 1989, LB 606, § […]

45-1,115 – Sections; applicability.

45-1,115. Sections; applicability. Sections 45-1,112 to 45-1,115 shall apply to credit agreements entered into on or after July 10, 1990. Source Laws 1989, LB 606, § 4; Laws 1990, LB 1199, § 4.

45-1,116 – Transferred to section 45-1068.

45-1,116. Transferred to section 45-1068.

45-1001 – Act, how cited.

45-1001. Act, how cited. Sections 45-1001 to 45-1070 shall be known and may be cited as the Nebraska Installment Loan Act. Source Laws 2001, LB 53, § 29; Laws 2005, LB 533, § 57; Laws 2009, LB328, § 40; Laws 2018, LB194, § 20.

45-1002 – Terms, defined; act; applicability.

45-1002. Terms, defined; act; applicability. (1) For purposes of the Nebraska Installment Loan Act: (a) Applicant means a person applying for a license under the act; (b) Breach of security of the system means unauthorized acquisition of data that compromises the security, confidentiality, or integrity of the information maintained by the Nationwide Mortgage Licensing System […]

45-1003 – Installment loans; financial institution ineligible.

45-1003. Installment loans; financial institution ineligible. No financial institution is eligible for a license or to make loans under the Nebraska Installment Loan Act. Source Laws 1965, c. 31, § 3, p. 214; R.S.1943, (1987), § 8-817; Laws 1988, LB 795, § 6; R.S.1943, (1998), § 45-115; Laws 2001, LB 53, § 31; Laws 2003, […]