45-1008 License; issuance; requirements; term. - Nebraska Statutes

State Codes and Statutes

Statutes > Nebraska > Chapter45 > 45-1008

45-1008. License; issuance; requirements; term.Uponthe filing of an application under the Nebraska Installment Loan Act, thepayment of the license fee, and the approval of the required bond, the directorshall investigate the facts regarding the applicant. If the director findsthat (1) the experience, character, and general fitness of the applicant,of the applicant's partners or members if the applicant is a partnership,limited liability company, or association, and of the applicant's officersand directors if the applicant is a corporation, are such as to warrant beliefthat the applicant will operate the business honestly, fairly, and efficientlywithin the purposes of the act, and (2) allowing the applicant to engage inbusiness will promote the convenience and advantage of the community in whichthe business of the applicant is to be conducted, the department shall issueand deliver an original license to the applicant to make loans at the locationspecified in the application, in accordance with the act. The license shallremain in full force and effect until the following March 1 and from yearto year thereafter, if and when renewed under the act, until it is surrenderedby the licensee or canceled, suspended, or revoked under the act. Beginning January 1, 2010, initial licensesshall remain in full force and effect until the next succeeding December 31. SourceLaws 1941, c. 90, § 12, p. 349; C.S.Supp.,1941, § 45-140; R.S.1943, § 45-120; Laws 1993, LB 121, § 265; Laws 1997, LB 555, § 8; R.S.1943, (1998), § 45-120; Laws 2001, LB 53, § 36; Laws 2009, LB328, § 43.AnnotationsDepartment of Banking may restrict number of licensees. Motors Acceptance Corp. v. McLain, 154 Neb. 354, 47 N.W.2d 919 (1951).

State Codes and Statutes

Statutes > Nebraska > Chapter45 > 45-1008

45-1008. License; issuance; requirements; term.Uponthe filing of an application under the Nebraska Installment Loan Act, thepayment of the license fee, and the approval of the required bond, the directorshall investigate the facts regarding the applicant. If the director findsthat (1) the experience, character, and general fitness of the applicant,of the applicant's partners or members if the applicant is a partnership,limited liability company, or association, and of the applicant's officersand directors if the applicant is a corporation, are such as to warrant beliefthat the applicant will operate the business honestly, fairly, and efficientlywithin the purposes of the act, and (2) allowing the applicant to engage inbusiness will promote the convenience and advantage of the community in whichthe business of the applicant is to be conducted, the department shall issueand deliver an original license to the applicant to make loans at the locationspecified in the application, in accordance with the act. The license shallremain in full force and effect until the following March 1 and from yearto year thereafter, if and when renewed under the act, until it is surrenderedby the licensee or canceled, suspended, or revoked under the act. Beginning January 1, 2010, initial licensesshall remain in full force and effect until the next succeeding December 31. SourceLaws 1941, c. 90, § 12, p. 349; C.S.Supp.,1941, § 45-140; R.S.1943, § 45-120; Laws 1993, LB 121, § 265; Laws 1997, LB 555, § 8; R.S.1943, (1998), § 45-120; Laws 2001, LB 53, § 36; Laws 2009, LB328, § 43.AnnotationsDepartment of Banking may restrict number of licensees. Motors Acceptance Corp. v. McLain, 154 Neb. 354, 47 N.W.2d 919 (1951).

State Codes and Statutes

Back To Homepage

State Codes and Statutes

Statutes > Nebraska > Chapter45 > 45-1008

45-1008. License; issuance; requirements; term.Uponthe filing of an application under the Nebraska Installment Loan Act, thepayment of the license fee, and the approval of the required bond, the directorshall investigate the facts regarding the applicant. If the director findsthat (1) the experience, character, and general fitness of the applicant,of the applicant's partners or members if the applicant is a partnership,limited liability company, or association, and of the applicant's officersand directors if the applicant is a corporation, are such as to warrant beliefthat the applicant will operate the business honestly, fairly, and efficientlywithin the purposes of the act, and (2) allowing the applicant to engage inbusiness will promote the convenience and advantage of the community in whichthe business of the applicant is to be conducted, the department shall issueand deliver an original license to the applicant to make loans at the locationspecified in the application, in accordance with the act. The license shallremain in full force and effect until the following March 1 and from yearto year thereafter, if and when renewed under the act, until it is surrenderedby the licensee or canceled, suspended, or revoked under the act. Beginning January 1, 2010, initial licensesshall remain in full force and effect until the next succeeding December 31. SourceLaws 1941, c. 90, § 12, p. 349; C.S.Supp.,1941, § 45-140; R.S.1943, § 45-120; Laws 1993, LB 121, § 265; Laws 1997, LB 555, § 8; R.S.1943, (1998), § 45-120; Laws 2001, LB 53, § 36; Laws 2009, LB328, § 43.AnnotationsDepartment of Banking may restrict number of licensees. Motors Acceptance Corp. v. McLain, 154 Neb. 354, 47 N.W.2d 919 (1951).