Skip to main content
Find a Lawyer

Nebraska Revised Statutes Chapter 45. Interest, Loans, and Debt § 45-190. Terms, defined

Current as of January 01, 2024 | Updated by Findlaw Staff

For purposes of sections 45-189 to 45-191.11, unless the context otherwise requires:

(1)Advance fee means any fee, deposit, or consideration which is assessed or collected, prior to the closing of a loan, by a loan broker and includes, but is not limited to, any money assessed or collected for processing, appraisals, credit checks, consultations, or expenses;

(2)Borrower means a person obtaining or desiring to obtain a loan of money;

(3)Department means the Department of Banking and Finance;

(4)Director means the Director of Banking and Finance;

(5)(a)Loan broker means any person who:

(i) For or in expectation of consideration from a borrower, procures, attempts to procure, arranges, or attempts to arrange a loan of money for a borrower;

(ii) For or in expectation of consideration from a borrower, assists a borrower in making an application to obtain a loan of money;

(iii) Is employed as an agent for the purpose of soliciting borrowers as clients of the employer; or

(iv) Holds himself or herself out, through advertising, signs, or other means, as a loan broker; and

(b) Loan broker does not include: (i) A bank, bank holding company, trust company, savings and loan association, credit union, or subsidiary of a bank, savings and loan association, building and loan association, or credit union which is subject to regulation or supervision under the laws of the United States or any state; (ii) a mortgage banker or an installment loan company licensed or registered under the laws of the State of Nebraska; (iii) a credit card company; (iv) an insurance company authorized to conduct business under the laws of the State of Nebraska; or (v) a lender approved by the Federal Housing Administration or the United States Department of Veterans Affairs, if the loan is secured or covered by guarantees, commitments, or agreements to purchase or take over the same by the Federal Housing Administration or the United States Department of Veterans Affairs;

(6)Loan brokerage agreement means any agreement for services between a loan broker and a borrower; and

(7)Person means natural persons, corporations, trusts, unincorporated associations, joint ventures, partnerships, and limited liability companies.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 45. Interest, Loans, and Debt § 45-190. Terms, defined - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-45-interest-loans-and-debt/ne-rev-st-sect-45-190/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard