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2023 Nebraska Revised Statutes
Chapter 45 - Interest, Loans, and Debt
45-1003 - Installment loans; financial institution ineligible; license required, when.
Universal Citation: NE Code § 45-1003 (2023)
45-1003. Installment loans; financial institution ineligible; license required, when.
No financial institution is eligible for a license or to make loans under the Nebraska Installment Loan Act.
A license shall be required for any person that is not a financial institution who, at or after the time a loan is made by a financial institution, markets, owns in whole or in part, holds, acquires, services, or otherwise participates in such loan.
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, LB 131, § 31;
- Laws 2003, LB 217, § 39;
- Laws 2023, LB92, § 71.
- Operative Date: June 7, 2023
Annotations
Notwithstanding interest rate limits under Nebraska statutes, national bank in Nebraska can legally charge, on credit card transactions, same rates allowed by section 45-114 et seq. Fisher v. First Nat. Bank of Omaha, 548 F.2d 255 (8th Cir. 1977).
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