Nebraska § 45-704 Registration required;
registration statement; fee; procedure; bond; registrant; duties; renewal

Nebraska Statutes

§ 45-704 — Registration required; registration statement; fee; procedure; bond; registrant; duties; renewal

Nebraska·Ch. 45 Interest, Loans, and Debt

(1)Notwithstanding any other provision of the Residential Mortgage Licensing Act, no person exempt from licensing under section 45-703 who employs or enters into an independent agent agreement with an individual who is required to obtain a mortgage loan originator license in this state pursuant to section 45-727 shall act as a mortgage banker until such person has registered with the department.

(2)Any person required to register pursuant to subsection (1) of this section shall submit to the department a registration statement on a form prescribed by the department. The form shall contain such information as the department may prescribe as necessary or appropriate, including, but not limited to, (a) all addresses at which business is to be conducted, (b) the names and titles of each

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(1) Notwithstanding any other provision of the Residential Mortgage
Licensing Act, no person exempt from licensing under section 45-703 who employs
or enters into an independent agent agreement with an individual who is required
to obtain a mortgage loan originator license in this state pursuant to section 45-727 shall act as a mortgage banker until such person has registered with
the department.
(2) Any person required to register pursuant to subsection (1) of this
section shall submit to the department a registration statement on a form prescribed by the department.
The form shall contain such information
as the department may prescribe as necessary or appropriate, including, but
not limited to, (a) all addresses at which business is to be conducted, (b)
the names and titles of each director and principal officer of the business,
and (c) a description of the activities of the applicant in such detail as
the department may require.
(3) The registration statement required in subsection (2) of this section
shall be accompanied by a registration fee of two hundred dollars.
(4) The department shall acknowledge the registration by issuing to
the registrant a receipt or other form of acknowledgment.
(5) A registrant shall maintain a surety bond as required by section 45-724 , submit mortgage reports
of condition as required by section 45-726 , and comply with the requirements
of section 45-735 pertaining to the employment of mortgage loan originators.
(6) A registration under this section shall not be assignable.
(7) After original registration, all registrations shall remain in full
force and effect until the next succeeding December 31. Thereafter, a registration
under this section may be renewed on an annual basis for a renewal fee of
one hundred dollars.
(8)(a) If a registrant fails to maintain a surety bond as required by
section 45-724 , the department may issue a notice of cancellation of the registration.
(b) If a registrant fails to renew his, her, or its registration as
required by this section and does not voluntarily surrender the registration
by delivering to the director written notice of the surrender, the department
may issue a notice of expiration of the registration.

Nebraska § 45-704 (Registration required; registration statement; fee; procedure; bond; registrant; duties; renewal) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Source: Laws 1989, LB 272, § 7; Laws 1999, LB 396, § 32; Laws 2003, LB 218, § 2; Laws 2005, LB 533, § 51; Laws 2008, LB851, § 21; Laws 2009, LB328, § 6; Laws 2010, LB892, § 6.