45-747 Prohibited acts; penalty. - Nebraska Statutes

45-747. Prohibitedacts; penalty.(1) Any person required to be licensed orregistered under the ResidentialMortgage Licensing Act who, without first obtaining a licenseor 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 orherself out as, claims to be, or temporarily acts as a mortgage banker or mortgage loan originator inthis state is guilty of a Class II misdemeanor.(2) Any individual who has been convicted of, pleaded guilty to, orbeen found guilty after a plea of nolo contendere to (a) a misdemeanor underany state or federal law which involves dishonesty or fraud or which involvesany aspect of the mortgage banking business, depository institutionbusiness, or installment loan company businessor (b) any felony under state or federal law, and is employed by or maintainsa contractual relationship as an agent of, any person required to be licensedor registered under the act, is guilty of a Class I misdemeanor. SourceLaws 1989, LB 272, § 11; Laws 1999, LB 396, § 34; Laws 2007, LB124, § 44; R.S.Supp.,2008, § 45-708; Laws 2009, LB328, § 32.