§ 45-747 — Prohibited acts; penalty

(1) Any person required to be licensed or
registered under the Residential
Mortgage Licensing Act who, without first obtaining a license
or registration under the act or while such license is on inactive status or expired or has been suspended,
revoked, or canceled by the director,
engages in the business of or occupation of, advertises or holds himself or
herself out as, claims to be, or temporarily acts as a mortgage banker or mortgage loan originator in
this state is guilty of a Class II misdemeanor.
(2) Any individual who has been convicted of, pleaded guilty to, or
been found guilty after a plea of nolo contendere to (a) a misdemeanor under
any state or federal law which involves dishonesty or fraud or which involves
any aspect of the mortgage banking business, depository institution
business, or installment loan company business
or (b) any felony under state or federal law, and is employed by or maintains
a contractual relationship as an agent of, any person required to be licensed
or registered under the act, is guilty of a Class I misdemeanor.

Legislative History

Source: Laws 1989, LB 272, § 11; Laws 1999, LB 396, § 34; Laws 2007, LB124, § 44; R.S.Supp.,2008, § 45-708; Laws 2009, LB328, § 32.