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Nebraska Revised Statutes Chapter 45. Interest, Loans, and Debt § 45-191.07. Violation of loan brokerage agreement by loan broker; effect

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

(1) If a loan broker materially violates the loan brokerage agreement, the borrower may upon written notice void such loan brokerage agreement. In addition, the borrower may recover all money paid to the loan broker and any other damages, including reasonable attorney's fees. The loan broker shall be deemed to have materially violated the loan brokerage agreement if the loan broker does any of the following:

(a) Makes false or misleading statements relating to the loan brokerage agreement;

(b) Does not comply with the loan brokerage agreement or any obligations arising from the loan brokerage agreement;

(c) Does not grant the borrower a loan or diligently attempt to obtain a loan for the borrower; or

(d) Does not comply with the requirements of sections 45-189 to 45-191.11.

(2) Remedies under this section shall be in addition to any other remedies available in law or equity.

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Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 45. Interest, Loans, and Debt § 45-191.07. Violation of loan brokerage agreement by loan broker; effect - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-45-interest-loans-and-debt/ne-rev-st-sect-45-191-07/

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