Nebraska Revised Statute 45-1003

Chapter 45

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

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).