Bill > LB185

This bill provides procedure and notice requirements and powers and duties for the Department of Banking and Finance with respect to certain abandoned license applications. The key provisions are: 1. The Department of Banking and Finance can deem a license application under the Nebraska Money Transmitters Act, the Nebraska Installment Sales Act, or the Nebraska Residential Mortgage Licensing Act as abandoned if the applicant does not complete the application and fail to respond to notices from the Department to correct deficiencies for over 120 days. In such cases, the Department can issue a notice of abandonment to the applicant instead of denying the application. 2. The bill amends existing statutes to include these provisions related to abandoned license applications.

Business and Industry

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=30983