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Can you summarize NERS 8-815?
BANKS AND BANKING > Terms, defined.
Short Summary
This legal document, Nebraska Revised Statutes » BANKS AND BANKING, applies to the Department of Banking and Finance, banks and trust companies organized under the laws of Nebraska, national banking associations doing business in Nebraska, and national banking associations. It defines ‘Personal loan’ as a loan repayable in two or more installments within one hundred forty-five months, excluding loans with interest exceeding sixteen percent per annum. The definition of ‘Personal loan’ also includes loans for the purchase of mobile homes and loans or advances initiated by credit card or other transaction cards. Additionally, the document defines ‘Transaction card’ as a device or means used to access a prearranged revolving credit plan account. No penalties are mentioned in this document.
Whom does it apply to?
Department, Banks, Personal loan, Transaction card
What does it govern?
Nebraska Revised Statutes >> BANKS AND BANKING
What are exemptions?
Loans on which the interest does not exceed sixteen percent per annum
What are the Penalties?
No penalties mentioned
Jurisdiction
Nebraska