2006 Nebraska Revised Statutes - § 45-1007 — Installment loans; license; bond.
Section 45-1007Installment loans; license; bond.
(1) Except as otherwise provided in this section, a license shall not be issued until the applicant gives to the department a bond in the penal sum of fifty thousand dollars to be executed by the applicant and a surety company authorized to do business in the State of Nebraska, conditioned for the faithful performance by the applicant, as a licensee, of the duties and obligations pertaining to the business of lending money and the prompt payment of any judgment recovered against the applicant, as a licensee, under the Nebraska Installment Loan Act.
(2) The bond or a substitute bond shall remain in effect or the licensee shall immediately cease making loans and the license shall be canceled by the director.
Source:
- Laws 1941, c. 90, § 31, p. 357
C.S.Supp.,1941, § 45-157
R.S.1943, § 45-119
Laws 1997, LB 555, § 7
R.S.1943, (1998), § 45-119
Laws 2001, LB 53, § 35
Laws 2003, LB 218, § 13
Laws 2006, LB 876, § 49.
~ Revised Statutes Cumulative Supplement, 2006
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