Chapter 8, Article 27

To print a PDF version without annotations or a complete source,  Click Here. This file is placed on our website for your reference and convenience only. For an official version, please click on the listed statute below or visit the Nebraska Unicameral website.

8-2701 Act, how cited.
8-2702 Definitions, where found.
8-2703 Applicant, defined.
8-2704 Authorized delegate, defined.
8-2705 Breach of security of the system, defined.
8-2706 Control, defined.
8-2707 Controlling person, defined.
8-2708 Department, defined.
8-2709 Director, defined.
8-2710 Electronic instrument, defined.
8-2711 Executive officer, defined.
8-2712 Key shareholder, defined..
8-2713 Licensee, defined.
8-2714 Material litigation, defined.
8-2715 Monetary value, defined.
8-2716 Money transmission, defined.
8-2717 Nationwide Mortgage Licensing System and Registry, defined.
8-2718 Outstanding payment instrument, defined.
8-2719 Payment instrument, defined.
8-2720 Permissible investments, defined.
8-2721 Person, defined.
8-2722 Remit, defined.
8-2723 Stored value, defined.
8-2724 Licensure requirement; applicability.
8-2725 License required; license not transferable or assignable.
8-2726 License; applicant; qualifications; requirements.
8-2727 License applicant; surety bond; alternate security; duration.
8-2728 Licensee; investments required; waiver.
8-2729 License application; form; contents.
8-2730 Licensee; license and registration through Nationwide Mortgage Licensing System and Registry; department; powers; director; reports; duties; department; duties.
8-2731 Supervisory information sharing; information and material; how treated; applicability; director; powers.
8-2732 Application fee; processing fee.
8-2733 Application; director; duties; powers; onsite investigation; costs; denial of application; reasons; hearing.
8-2734 License; renewal application; licensing fee; processing fee; report; contents.
8-2735 Licensee; notice to director; when; report; contents.
8-2736 Acquisition of control of licensee; notice to director; director; duties; powers; disapproval; grounds; notice; hearing.
8-2737 Examination of licensee; notice; director; powers; charge
8-2738 Licensee; books, accounts, and records.
8-2739 Licensee; authorized delegate; contract; contents.
8-2740 Authorized delegate; duties.
8-2741 License; suspension or revocation; grounds; director; powers and duties; hearing; surrender; cancellation; expiration.
8-2742 Authorized delegate; suspension or revocation of designation; grounds; director; powers and duties; hearing; final order; application to modify or rescind.
8-2743 Cease and desist order; notice; hearing; vacation or modification of order; when; judicial review; enforcement.
8-2744 Violations; orders authorized.
8-2745 Violations; penalties.
8-2746 Rules and regulations.
8-2747 Fees, charges, costs, and fines; disposition.
8-2748 Repealed. Laws 2016, LB778, §9.

The Nebraska Department of Banking and Finance uses the Nationwide Mortgage Licensing System (NMLS). All entities applying for a new money transmitter license or renewing a license are required to use the NMLS.

Money Transmitter Financial Statement (Individual)
Money Transmitter Permissible Investment Worksheet (New Applicant)
Affidavit of Prior Activity

Any person or business wishing to conduct lending businesses with Nebraska residents must be licensed with the Nebraska Department of Banking & Finance. This section applies to installment loan and sales finance lenders and loan brokers. See the Consumer Lending Regulation page for information regarding each of these businesses.

Installment Loan License Requirements

An Installment Loan License must be issued before any business is conducted. This license is valid from the date of issuance until the following December 31, at which time the license must be renewed. To obtain an Installment Loan License, an applicant must submit:

• a complete Installment Loan License Application (no unanswered questions);
• an original surety bond in the amount of $50,000 issued by a surety company authorized to do business in Nebraska;
• a current (not over six months old), audited corporate financial statement; and
• a non-refundable application fee in the amount of $500 made payable to the Nebraska Department of Banking and Finance.

Once the application has been determined to be complete and all information has been submitted, a hearing may be scheduled. A notice of the filing of the application will be published in appropriate newspapers. Costs of the hearing and notice publication are the responsibility of the applicant. Once all procedures have been completed, the department will approve or deny the license application. The applicant will be notified in writing of the department's determination within 90 days of the date the completed application was filed.

Installment Sales License Requirement

An Installment Sales License must be issued before any business is conducted. This license is valid from the date of issuance until December 31, at which time the license must be renewed.

Obtaining a License

All applications for an installment sales license must be submitted via the NMLS. Sample forms and detailed instructions are available on the NMLS website. To expedite this process you may wish to complete the paper format of each necessary form to use as a tool to ensure that you have collected all necessary information before you log into the NMLS website. However, the process will only be able to be completed online and any application or fees that are mailed or hand delivered to our Lincoln office will be returned to the applicant without being processed.

All application fees as well as any NMLS processing fees will be processed electronically through the NMLS. You may pay the fees via ACH or by Visa or Mastercard. No other payment method will be accepted.

If you have any questions or problems regarding the NMLS, please call the NMLS call center at (240) 386-4444.

View the Uniform Licensing Forms

No Paper License

The Department no longer issues paper licenses. All license approvals, renewals, branches or cancellations are updated on the NMLS to reflect the current license status.

Consumer lenders that have a license to operate within Nebraska must renew their licenses annually.

Sales Finance License Renewals

The Department will be transitioning all licensing for Sales Finance onto the NMLS in 2013. The NMLS utilizes a uniform renewal date of December 31st each year.

Installment Loan License Renewals

The Department accepts Installment Loan License Applications via the Nationwide Mortgage Licensing System. The NMLS utilizes a uniform renewal date of December 31st each year.

Consumer lending encompasses lenders not operating through a bank, savings bank or credit union (considered traditional lenders). Consumer lenders are considered non-traditional.

Nebraska has three different types of businesses that operate under the consumer lending division. These businesses are: installment loan companies, sales finance companies and loan brokers. Consumer lending does not include home mortgages (but can include home equity loans). The mortgage lending section of our web site addresses mortgage activities and regulation.

Installment loan companies regulated by our agency must be physically located in Nebraska. They specialize in personal and consumer loans, usually of a smaller amount and can include home equity lines of credit.

Sales finance companies purchase and service retail installment contracts. These contracts are usually in larger amounts and are involved in the purchase of material items, such as vehicles. Dealerships, and other businesses, typically sell these retail payment agreements to a third party - a sales finance company - who then becomes the responsible party for accepting and processing payments until the loan is paid in full.

A loan broker is a person or company that arranges for or helps to obtain a loan. These types of loans are commercial, consumer or personal loans. Loan brokers are not allowed to arrange or help obtain a loan secured by residential property in Nebraska without a mortgage banker license.

Installment Loan Forms - New License

The Nebraska Department of Banking and Finance uses the Nationwide Mortgage Licensing System (NMLS). All entities applying for a new installment loan license or renewing a license are required to use the - NMLS.

Installment Loan License Bond Form
Installment Loan License Supplemental Bond Form

Other Installment Loan Forms

Installment Loan Real Estate Valuation Model Application
Notice of Right to Cure Loan Default (SAMPLE FORM)
Notice to Cosigner or Guarantor (SAMPLE FORM)

Loan Broker Forms

Please contact our consumer lending division at (402) 471-2171 for information regarding a loan broker license in Nebraska.

Sales Finance Forms

Sales Finance License Bond Form