45-190 Terms, defined. - Nebraska Statutes

45-190. Terms, defined.For purposes of sections 45-189 to 45-191.11, unless thecontext otherwise requires:(1) Advance fee means any fee, deposit, or considerationwhich is assessed or collected, prior to the closing of a loan, by a loanbroker and includes, but is not limited to, any money assessed or collectedfor processing, appraisals, credit checks, consultations, or expenses;(2) Borrower means a person obtaining or desiring to obtaina loan of money;(3) Department means the Department of Banking and Finance;(4) Director means the Director of Banking and Finance;(5) Loan broker means any person, except any bank, trustcompany, savings and loan association or subsidiary of a savings and loanassociation, building and loan association, credit union, licensed or registeredmortgage banker, Federal Housing Administration or United States Departmentof Veterans Affairs approved lender as long as the loan of money made by theFederal Housing Administration or the United States Department of VeteransAffairs approved lender is secured or covered by guarantees or commitmentsor agreements to purchase or take over the same by the Federal Housing Administrationor the United States Department of Veterans Affairs, credit card company,installment loan licensee, or insurance company which is subject to regulationor supervision under the laws of the United States or this state, who:(a) For or in expectation of an advance fee from a borrower, procures, attemptsto procure, arranges, or attempts to arrange a loan of money for a borrower;(b) For or in expectation of an advance fee from a borrower, assists a borrowerin making an application to obtain a loan of money;(c) Is employed as an agent for the purpose of solicitingborrowers as clients of the employer; or(d) Holds himself or herself out, through advertising, signs,or other means, as a loan broker;(6) Loan brokerage agreement means any agreement for servicesbetween a loan broker and a borrower; and(7) Person means natural persons, corporations, trusts, unincorporatedassociations, joint ventures, partnerships, and limited liability companies. SourceLaws 1981, LB 154, § 2; Laws 1982, LB 751, § 1; Laws 1985, LB 86, § 1; Laws 1989, LB 272, § 3; Laws 1993, LB 121, § 271; Laws 1993, LB 270, § 1; Laws 1995, LB 599, § 11; Laws 2001, LB 53, § 87; Laws 2003, LB 131, § 26; Laws 2009, LB327, § 16.