45-1041 Installment loans; enforcement. - Nebraska Statutes

45-1041. Installment loans; enforcement.Whenever the director has reasonable cause to believe that any person is violating or is threatening to or intends to violate section 45-1024 or 45-1025, the director may, in addition to all actions provided for in the Nebraska Installment Loan Act, and without prejudice thereto, enter an order requiring such person to cease and desist or to refrain from such violation. An action may also be brought, on the relation of the Attorney General and the director, to enjoin such person from engaging in or continuing such violation or from doing any act or acts in furtherance of such violation. In any such action an order or judgment may be entered awarding such preliminary or final injunction as may be deemed proper. In addition to all other means provided by law for the enforcement of a restraining order or injunction, the court, in which such action is brought, has power and jurisdiction to impound and appoint a receiver for the property and business of the defendant, including books, papers, documents, and records pertaining thereto or so much thereof as the court may deem reasonably necessary to prevent violations of the act through or by means of the use of such property and business. Such receiver, when so appointed and qualified, has such powers and duties as to custody, collection, administration, winding up, and liquidation of such property and business as shall, from time to time, be conferred upon the receiver by the court. SourceLaws 1943, c. 107, § 8, p. 374; R.S.1943, § 45-157; R.S.1943, (1998), § 45-157; Laws 2001, LB 53, § 69. AnnotationsImposition of civil penalty is recognized. State ex rel. Beck v. Associates Discount Corp., 168 Neb. 803, 97 N.W.2d 583 (1959).Receiver appointed under this section was entitled to allowance of fair and reasonable fees. State ex rel. Beck v. Associates Discount Corp., 168 Neb. 298, 96 N.W.2d 55 (1959).Equity will provide the same measure of relief for individual borrowers. McNish v. General Credit Corp., 164 Neb. 526, 83 N.W.2d 1 (1957).Remedies of injunction and receivership are expressly authorized. State ex rel. Beck v. Associates Discount Corp., 162 Neb. 683, 77 N.W.2d 215 (1956).