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2012 Nebraska Revised Statutes
Chapter 45 - INTEREST, LOANS, AND DEBT
45-1015 - Installment loans; doing business without license; penalty.


NE Code § 45-1015 (2012) What's This?
45-1015. Installment loans; doing business without license; penalty.

Any person who, by any device, subterfuge, or pretense whatsoever, engages in or continues any of the kinds of business or enterprise permitted to licensees by the Nebraska Installment Loan Act without having obtained the license required by the act, with intent to evade the provisions of the act, is guilty of a Class I misdemeanor.

Source
    Laws 1941, c. 90, § 14, p. 350;
    C.S.Supp.,1941, § 45-142;
    R.S.1943, § 45-128;
    Laws 1977, LB 40, § 248;
    Laws 1993, LB 121, § 266;
    Laws 1997, LB 555, § 11;
    R.S.1943, (1998), § 45-128;
    Laws 2001, LB 53, § 43.

Annotations
Conviction under this section is not a condition precedent to imposition of civil penalty. State ex rel. Beck v. Associates Discount Corp., 168 Neb. 803, 97 N.W.2d 583 (1959).

Statute is penal in character and voids entire contract in case of violation. State ex rel. Beck v. Associates Discount Corp., 168 Neb. 298, 96 N.W.2d 55 (1959).

Penalties of act applied to nonlicensees. State ex rel. Beck v. Associates Discount Corp., 162 Neb. 683, 77 N.W.2d 215 (1956).

If exactions of interest are usurious, whole obligation is void and uncollectible. State ex rel. Beck v. Associates Discount Corp., 161 Neb. 410, 73 N.W.2d 673 (1955).

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