45-746 Enforcement of act; director; powers; construction of act; failure to comply with act; effect. - Nebraska Statutes

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Statutes > Nebraska > Chapter45 > 45-746

45-746. Enforcement of act; director;powers; construction of act; failureto comply with act; effect.(1) The director may requestthe Attorney General to enforce the ResidentialMortgage Licensing Act. A civil enforcement action by the AttorneyGeneral may be filed in the district court of Lancaster County. A civil enforcementaction by the Attorney General may seek temporary and permanent injunctiverelief, restitution for a borrower aggrieved by a violation of the act, andcosts for the investigation and prosecution of the enforcement action.(2) Except when expresslyauthorized, there shall be no private cause of action for any violation ofthe act.(3) Nothing in the actshall limit any statutory or common-law right of any person to bring any actionin any court for any act involved in the mortgage banking business or theright of the state to punish any person for any violation of law.(4) Failure to comply with the act shall not affect the validity or enforceabilityof any residential mortgageloan. A person acquiring a residential mortgageloan or an interest in a residential mortgageloan is not required to ascertain the extent of compliance with the act. SourceLaws 2006, LB 876, § 35; R.S.Supp.,2008, § 45-717.02; Laws 2009, LB328, § 31.

State Codes and Statutes

Statutes > Nebraska > Chapter45 > 45-746

45-746. Enforcement of act; director;powers; construction of act; failureto comply with act; effect.(1) The director may requestthe Attorney General to enforce the ResidentialMortgage Licensing Act. A civil enforcement action by the AttorneyGeneral may be filed in the district court of Lancaster County. A civil enforcementaction by the Attorney General may seek temporary and permanent injunctiverelief, restitution for a borrower aggrieved by a violation of the act, andcosts for the investigation and prosecution of the enforcement action.(2) Except when expresslyauthorized, there shall be no private cause of action for any violation ofthe act.(3) Nothing in the actshall limit any statutory or common-law right of any person to bring any actionin any court for any act involved in the mortgage banking business or theright of the state to punish any person for any violation of law.(4) Failure to comply with the act shall not affect the validity or enforceabilityof any residential mortgageloan. A person acquiring a residential mortgageloan or an interest in a residential mortgageloan is not required to ascertain the extent of compliance with the act. SourceLaws 2006, LB 876, § 35; R.S.Supp.,2008, § 45-717.02; Laws 2009, LB328, § 31.

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State Codes and Statutes

Statutes > Nebraska > Chapter45 > 45-746

45-746. Enforcement of act; director;powers; construction of act; failureto comply with act; effect.(1) The director may requestthe Attorney General to enforce the ResidentialMortgage Licensing Act. A civil enforcement action by the AttorneyGeneral may be filed in the district court of Lancaster County. A civil enforcementaction by the Attorney General may seek temporary and permanent injunctiverelief, restitution for a borrower aggrieved by a violation of the act, andcosts for the investigation and prosecution of the enforcement action.(2) Except when expresslyauthorized, there shall be no private cause of action for any violation ofthe act.(3) Nothing in the actshall limit any statutory or common-law right of any person to bring any actionin any court for any act involved in the mortgage banking business or theright of the state to punish any person for any violation of law.(4) Failure to comply with the act shall not affect the validity or enforceabilityof any residential mortgageloan. A person acquiring a residential mortgageloan or an interest in a residential mortgageloan is not required to ascertain the extent of compliance with the act. SourceLaws 2006, LB 876, § 35; R.S.Supp.,2008, § 45-717.02; Laws 2009, LB328, § 31.