Nebraska § 8-2731 Surety bond

Nebraska Statutes

§ 8-2731 — Surety bond

Nebraska § 8-2731

Ch. 8Banks and Banking

This text of Nebraska § 8-2731 (Surety bond) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 8-2731 (2026).

Text

(1)An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the director.

(2)The amount of the surety bond required by subsection (1) of this section shall be the greater of one hundred thousand dollars or an amount equal to one hundred percent of the licensee's average daily money transmission liability in this state calculated for the most recently completed three-month period, up to a maximum of five hundred thousand dollars. A licensee that maintains a bond in the maximum amount provided for in this subsection shall not be required to calculate its average daily money transmission liability in this state for purposes of this subsection.

(3)The surety bond required by subsec

Free access — add to your briefcase to read the full text and ask questions with AI

(1) An applicant for a money transmission license shall provide, and a licensee at all times shall maintain, security consisting of a surety bond in a form satisfactory to the director.
(2) The amount of the surety bond required by subsection (1) of this section shall be the greater of one hundred thousand dollars or an amount equal to one hundred percent of the licensee's average daily money transmission liability in this state calculated for the most recently completed three-month period, up to a maximum of five hundred thousand dollars. A licensee that maintains a bond in the maximum amount provided for in this subsection shall not be required to calculate its average daily money transmission liability in this state for purposes of this subsection.
(3) The surety bond required by subsection (1) of this section shall remain in effect until cancellation, which may occur only after thirty days' written notice to the director. Cancellation shall not affect any liability incurred or accrued during the period the surety bond was in effect.
(4) Any claimant against the licensee may file a claim or bring suit directly on the surety bond required by subsection (1) of this section. The director may also file a claim or bring suit on behalf of any claimant, either in one action or in successive actions.