There is a newer version of the Nebraska Revised Statutes
2006 Nebraska Revised Statutes - § 45-1049 — Borrower; default; agreement; extent of enforceability.
Section 45-1049Borrower; default; agreement; extent of enforceability.
An agreement of the parties to a loan, with respect to default on the part of the borrower, is enforceable only to the extent that:
(1) The borrower fails to make a payment on the loan or other charges required by the agreement; or
(2) The prospect of payment, performance, or realization of collateral is significantly impaired. The burden of establishing the prospect of significant impairment is on the licensee.
Source:
- Laws 1979, LB 87, § 12
R.S.1943, (1998), § 45-179
Laws 2001, LB 53, § 77
~Reissue Revised Statutes of Nebraska
Disclaimer: These codes may not be the most recent version. Nebraska may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.