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Nebraska Revised Statutes Chapter 45. Interest, Loans, and Debt § 45-340. License; renewal; application; fees; failure to renew; effect; denial; appeal

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

(1) For the annual renewal of an original license under the Nebraska Installment Loan and Sales Act, the licensee shall file a renewal application containing such information as the director may require to indicate any material change in the information contained in the original application or succeeding renewal applications, along with a renewal fee and any processing fee allowed for by section 45-373.

(2) The renewal fee shall be:

(a) Two hundred fifty dollars for an installment loan license;

(b) One hundred twenty-five dollars for an installment loan branch license;

(c) One hundred fifty dollars for an installment sales license; and

(d) One hundred dollars for an installment sales branch license.

(3) If a licensee fails to renew such licensee's license and does not voluntarily surrender the license pursuant to this section, the department may issue a notice of expiration of the license to the licensee in lieu of revocation proceedings.

(4) Renewal of a license originally granted under the Nebraska Installment Loan and Sales Act may be denied by the director on the following grounds:

(a) Material misstatement in the application for a license;

(b) Willful failure to comply with any provision of the Nebraska Installment Loan and Sales Act relating to installment sales contracts or installment loans;

(c) Failure to continue to meet the conditions under which the original license was granted;

(d) Defrauding any buyer to the buyer's damage; or

(e) Fraudulent misrepresentation, circumvention, or concealment by the licensee through whatever subterfuge or device of any of the material particulars or the nature thereof required to be stated or furnished to a consumer.

(5) Any person, licensee, or applicant potentially aggrieved by an order of the director entered under this section may appeal the order. The appeal shall be in accordance with the Administrative Procedure Act.

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Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 45. Interest, Loans, and Debt § 45-340. License; renewal; application; fees; failure to renew; effect; denial; appeal - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-45-interest-loans-and-debt/ne-rev-st-sect-45-340/

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