45-1107 Modification of guaranteed asset protection waiver; limitations. - Nebraska Statutes

45-1107. Modification of guaranteed assetprotection waiver; limitations.The creditor or the creditor's designee shall not offera guaranteed asset protection waiver when the guaranteed asset protectionwaiver contains terms that allow the creditor or the creditor's designee tomodify, unilaterally, the guaranteed asset protection waiver, unless (1) themodification is favorable to the borrower and is made without any additionalcharge to the borrower or (2) the borrower is notified of the proposed modificationand has the option to cancel the guaranteed asset protection waiver withoutpenalty. SourceLaws 2010, LB571, § 7.